Tag Archives: FSC

Authorities in South Korea have warned local financial institutions from offering spot crypto ETFs following SEC approval in the US. South Korea’s financial regulator, the Financial Services Commission (FSC), has said that the spot Bitcoin ETFs recently approved in the US may contravene the country’s law. In an official statement published on Friday, the regulator sounded a note of warning without providing extensive details: “Domestic securities firms brokering overseas-listed Bitcoin...

By compelling influential political leaders and bureaucrats to share their virtual currency investments, South Korea hopes to heighten transparency surrounding public-sector finances. South Korea is set to begin disclosing the cryptocurrency holdings of top public officials beginning in 2024, marking a monumental push toward transparency and accountability in government services. According to an announcement from the Ministry of Personnel Management, approximately 5,800 elected officials...

The Taiwanese government is planning to release guiding principles by the month end, in order to boost information disclosure for crypto exchanges. Taiwan is preparing to introduce some sweeping regulatory changes while restricting offshore exchanges from operating in the country without any proper compliance in place. The Financial Supervisory Commission (FSC) of Taiwan has formulated ten guiding principles for virtual asset service providers to establish their own self-regulatory...

CoinspeakerSouth Korea Floats New Crypto Rules to Promote Transparency According to the FSC, the main aim of the proposed new rules is to encourage firms to have accounting transparency. South Korea Floats New Crypto Rules to Promote Transparency

As per the VAUP legislation, the Financial Services Commission (FSC) will get the authority to oversee crypto operators as well as crypto custodians. South Korea has now implemented the first independent bill for digital assets in order to boost investor protection in the region. The development comes one year after the country’s biggest implosion of the Terra ecosystem last year which triggered the $2 trillion crypto market rout. On Friday, the South Korean parliament passed the Virtual...

Speaking to the parliament, Chairman Huang pointed out that the Financial Supervisory Commission was working on a crypto regulatory framework. The Financial Supervisory Commission of Taiwan (FSC) has announced that it will now be the primary regulatory body for cryptocurrencies in Taiwan. Some lawmakers had called for the Ministry of Digital Affairs (MODA) as the chief crypto regulator. However, FSC made it known in a statement by its chairman, Huang Tien-mu while addressing the Taiwan...

Hiobs-Botschaft: Indem Korea kleinere Altcoins delistet und Börsen schließt, besteht das Risiko für Anleger mehr als 2,6 Milliarden Dollar zu verlieren Es besteht das Risiko, dass mehr als die Hälfte der Kryptowährungsbörsen in Südkorea aufgrund von Verstößen gegen neue regulatorische Anforderungen geschlossen werden müssen, berichtet die Financial Times. Dies deshalb, weil die Frist, bis zu der die betroffenen Börsen die neuen Auflagen erfüllen...