🏦📋 South Korea's Financial Intelligence Unit (FIU) plans to introduce a system to suspend the review of virtual asset business operators (VASPs) reports, aiming to streamline the virtual asset business review process. A 'Virtual Asset Business Report Review Committee' is being considered to be incorporated into the Enforcement Decree of the Virtual Asset User Protection Act. 🇰🇷💼 #Cryptoregulations

#SEC Crypto Regulation: The U.S. SEC may focus on regulating cryptocurrency custodians and decentralized exchanges (DEXs) in the coming year, potentially leading to an increase in enforcement cases against crypto firms. The CFTC is also considering measures to enhance consumer protection in cryptocurrency transactions. #Cryptoregulations 📊💼

📣 The Digital Asset Exchange Joint Association (DAXA) partners with the Financial Intelligence Unit (FIU) to accept reports on undeclared virtual asset businesses, targeting both domestic and foreign operators not complying with Article 7 of the Specific Financial Information Act. DAXA conducts initial reviews and shares findings with FIU. 👥📊 #Cryptoregulations

📉 Bloomberg analyst reports US SEC concerns over BTC spot ETF, citing worries about potential money laundering; emphasizes focus on the closed system of the proposed method. #Cryptoregulations 🕵️‍♂️💼

Coinbase mandates suitability assessments for UK users in compliance with FCA regulations; deadline extended to January 8th. Similar actions taken by OKX, per The Block. 🇬🇧💼 #Cryptoregulations

📢 Anthony Bassili, Coinbase's Head of Tokenization Technology, shares key amendment highlights: 1️⃣ Large-scale crypto infrastructure and eligible orgs in sandboxes 🏗️ 2️⃣ Public blockchains welcomed 🌐 3️⃣ Inclusion of stablecoins and asset trading pairs 💱 4️⃣ Funds and utility tokens permitted. #Cryptoregulations #coinbase

#cryptocurrency Regulations: Important Or Needless?

#Cryptoregulations #crypto2023

The International Organization of Securities Commissions (IOSCO), a global finance organization comprising securities regulators, has recently proposed a set of international regulations for crypto assets and digital tokens.

IOSCO’s proposal aims to create greater consistency across the cryptocurrency landscape, ensuring that similar activities are subject to the same regulatory outcomes. By implementing these recommendations, regulators hope to prevent conflicts of interest and ensure that customer assets are adequately protected. The principle of “same activities, same risks, same regulatory outcomes” underpins IOSCO’s approach, emphasizing the need for uniform cryptocurrency regulations across jurisdictions.

What are ur thoughts?

🇮🇩 Indonesia's private cryptocurrency exchanges must register with CFX, the state-run exchange, and undergo regulatory review as per 2019 regulations. A local license, PFAK, is required for recognition as a legal business. CFX serves as a gateway for monitoring transactions for tax collection. There are currently 29 operating cryptocurrency exchanges, with the registration deadline set for August 17, 2024. 💼📈 #Cryptoregulations

⚠️ Texas Regulator Accuses GS Partners of Metaverse Fraud! 🏛️ The Texas State Securities Board alleges fraud against GS Partners, a German company selling Metaverse real estate ownership tokens. 🕵️‍♂️ GS Partners faces accusations of massive commissions, multi-level marketing tactics, and celebrity endorsements by Floyd Mayweather and Roberto Carlos. 📉 The token's value plummeted on Pancake Swap, leading to regulatory action in Texas and California. Stay informed as the case unfolds! #MetaverseFraud #GSpartners #Cryptoregulations

**FCA Warns Lykke for Operating Without License** 🚫: The UK's Financial Conduct Authority (FCA) has issued a warning that cryptocurrency exchange Lykke is operating without a license. The FCA stated that "Lykke is promoting financial services and products without the approval of the regulator." This follows a similar warning issued to Poloniex, a cryptocurrency exchange owned by Tron (TRX) founder Justin Sun, for operating without a license. Regulatory scrutiny in the crypto space continues. 🇬🇧🛡️ #Cryptoregulations

🇵🇭 The Philippine Securities and Exchange Commission (SEC) issues a warning, stating that individuals acting as brokers, dealers, salespersons, representatives, or influencers for Binance, an unregistered and unlicensed exchange, and promoting its use to Filipino users may face fines and imprisonment. They emphasize that Binance is not authorized to offer securities to Filipino citizens and conducting promotional campaigns targeting Filipinos is illegal and a violation of securities laws. 🚫⚖️ #PhilippineSEC #binanceus #Cryptoregulations

🔒 Coinbase CEO Brian Armstrong reveals the company's multiple meetings with SEC officials over 18 months, seeking feedback on asset classification, but receiving a lawsuit instead. ⚖️ #Coinbase #SecurityBreach #Cryptoregulations

📊📝 The Digital Asset Exchange Association (DAXA) affirms the correctness of adhering to self-regulatory guidelines concerning Korbit's re-listing on Wemix. A DAXA official notes that the exchange decides the area of transaction support and that such details were not shared in advance but underscores their commitment to following guidelines. However, the principle of not disclosing the re-listing prohibition period for virtual assets remains unchanged. 🔄💼 #DAXA #KorbitRelisting #Cryptoregulations

📊 Bloomberg analyst James Seyffart reveals that the US SEC held an additional meeting with Grayscale the day before, signaling ongoing regulatory discussions. 🤝📰 #Cryptoregulations

🇰🇷🚫 Vice Chairman Kim So-young of the Financial Services Commission reiterates the Korean government's stance against Bitcoin spot ETFs, citing concerns about financial companies owning virtual assets and potential violations of existing regulations. 📉🏛️ #Cryptoregulations

📃🇭🇰 The Hong Kong Securities and Futures Commission (SFC) mandates advance application by fund managers if cryptocurrencies make up over 10% of public fund portfolios, with approval and compliance on cryptocurrency platform trading. #Cryptoregulations #HongKong" 📊🧾

🗣️ Coin Center CCO Neeraj Agrawal opposes the bill, stating it goes against liberal values and supports authoritarian surveillance and control. "No room for improvement, only opposition," he emphasizes. 🚫💼 #Cryptoregulations #Opposition

🚨 Breaking News: CFTC Chairman Rostin Banham calls for comprehensive cryptocurrency regulation, stating most cryptos are products under current law, and urges Congress to integrate crypto tech into the financial system. 💼🪙 #Cryptoregulations

**🚨 Breaking News:** 🏛️ Senator Elizabeth Warren (Democratic Party) introduces a bill aimed at preventing digital asset money laundering, potentially impacting the cryptocurrency industry. However, Fortune reports that passing the threshold in the House of Representatives may prove challenging, as House Financial Services Chairman Patrick McHenry has instructed Republican lawmakers not to participate in the bill. Representative Sean Casten (D) is seeking co-sponsors for the House version of the bill. #Cryptoregulations 🇺🇸💼🪙

🚨 Breaking News: #BitcoinWorld 🌐 - Financial Exchange Commission issues warning, emphasizing concerns over sudden closure of virtual asset businesses. New regulations mandate operators to establish user-friendly closure procedures, provide one-month notice, halt new subscriptions, and support existing deposits/withdrawals for an ample period. Financial Services Commission to closely monitor closure details. ⚠️💼 #Cryptoregulations