VirtualAssets
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đľď¸ââď¸ In the investigation of virtual asset cases like WEMIX, prosecutors in South Korea are considering whether virtual assets should be categorized as securities or not, given the absence of a fundamental law distinguishing them from securities. The application of the Capital Markets Act depends on whether a specific virtual asset is considered a security. An official from the Seoul Southern District Prosecutors' Office emphasized the need to evaluate this aspect, stating that virtual assets are not uniformly recognized as securities. đđź #VirtualAssets #LegalReview đđ°đˇ
đ The Financial Supervisory Service is working on guidelines for virtual asset issuance volume, distribution volume, and transaction support, expected to be announced soon. Team Leader Byung-nam Ahn mentioned that while they anticipate creating regulations similar to those in the traditional financial sector, it's a new market with unique challenges, and global considerations are necessary due to the presence of various exchanges and the interconnectedness of markets. đđŚđź #CryptoRegulation #VirtualAssets đ°đˇ
đ° Public institutions, including the Deposit Insurance Corporation, convert virtual assets seized from insolvent individuals into cash for the first time. The move is facilitated under potential law amendments in a bid to recover stolen or hidden public funds via virtual asset exchanges. #VirtualAssets #BitcoinWorld đźđ¸đď¸đ
The Mokpo Marine Police Station has taken action against Mr. Park, a virtual asset price manipulation worker, who was arrested on charges of violating the Smuggling Control Act. Mr. Park, known for his aliases such as 'Coin King' and 'MM Godfather,' has been involved in coin investment techniques and has shared his lifestyle through social media. His arrest and the charges against him are part of efforts to combat illegal activities in the virtual asset market. đľď¸ââď¸đź #VirtualAssets #CryptocurrencyCrime #MarketRegulation đđ°
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Event Update: Samjong KPMG's '10th Content Industry Seminar' on the 29th at POSCO Tower Yeoksam, Gangnam-gu, focuses on 'virtual assets,' delving into accounting and tax considerations for digital assets in content companies and exploring response strategies. đŽđ #ContentIndustry #Seminar #VirtualAssets
đ°đˇ The Child Support Implementation Management Office of the Korea Healthy Family Promotion Agency, under the Ministry of Gender Equality and Family, will collaborate with Korea Credit Bureau (KCB) to seize virtual assets of child support debtors starting next year. This initiative aims to make it easier to view and seize virtual assets through the KCB virtual asset electronic management system. đźđťđ° #ChildSupport #KCB #VirtualAssets đ˘đ
đŚ The Financial Supervisory Service to launch 'Virtual Asset Supervision Bureau' for oversight and market stability, and 'Virtual Asset Investigation Bureau' to combat unfair transactions, responding to the virtual asset market's growth. đđź #CryptoRegulation #FinancialSupervision #VirtualAssets
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Important Update: The Ministry of Personnel Management announces the approval of a partial revision to the Enforcement Decree of the Public Official Ethics Act, effective December 14th. Public officials of grade 4 or higher must now disclose and report virtual assets when registering property, providing detailed information on their formation process and submitting one year of virtual asset transaction details for level 1 or higher property disclosure. đźđť #PublicEthics #VirtualAssets #RegulationUpdate
đŁ Taiwan's Financial Supervisory Commission (FSC) announces new anti-money laundering (AML) regulations for virtual asset service providers (VASPs)!
Starting January 1, 2025, stricter AML rules will come into effect, requiring all cryptocurrency companies to register with the government by September 2025. Non-compliance could result in fines up to $155,900 or even two years in prison. đ¨
Whatâs changing:
All crypto companies, even those already compliant, must re-register with the FSC to avoid penalties.
A new registration system will be launched soon, so itâs best to wait until itâs live before submitting documents.
The FSC is set to propose additional crypto-related laws by June 2025, ensuring security and compliance in Taiwanâs growing crypto market.
For professional investors, Taiwan has opened doors to new opportunities, allowing investments in foreign virtual asset-related ETFs. But keep in mind, these are high-risk investments and are limited to institutional investors, high-net-worth clients, and qualified individuals.
Key safeguards include:
A mandatory risk assessment system and clear risk warnings for non-institutional customers before their first purchase.
Regular training for securities employees to enhance understanding of virtual assets.
Final thoughts: Taiwanâs new regulations will elevate crypto compliance standards, promoting a more secure and sustainable market. While the rules may make it tougher for regular investors, theyâre designed to protect consumer rights and combat money laundering. Meanwhile, professional investors will have fresh avenues to explore, with new investment options like foreign asset ETFs.
How do you feel about Taiwanâs new AML regulations? Will they shape the future of the crypto market? Share your thoughts in the comments below
#Binance
#AML
#InvestmentOpportunities
#VirtualAssets #Write2Earn!
$TAO
$TON
$BNB
Starting January 1, 2025, stricter AML rules will come into effect, requiring all cryptocurrency companies to register with the government by September 2025. Non-compliance could result in fines up to $155,900 or even two years in prison. đ¨
Whatâs changing:
All crypto companies, even those already compliant, must re-register with the FSC to avoid penalties.
A new registration system will be launched soon, so itâs best to wait until itâs live before submitting documents.
The FSC is set to propose additional crypto-related laws by June 2025, ensuring security and compliance in Taiwanâs growing crypto market.
For professional investors, Taiwan has opened doors to new opportunities, allowing investments in foreign virtual asset-related ETFs. But keep in mind, these are high-risk investments and are limited to institutional investors, high-net-worth clients, and qualified individuals.
Key safeguards include:
A mandatory risk assessment system and clear risk warnings for non-institutional customers before their first purchase.
Regular training for securities employees to enhance understanding of virtual assets.
Final thoughts: Taiwanâs new regulations will elevate crypto compliance standards, promoting a more secure and sustainable market. While the rules may make it tougher for regular investors, theyâre designed to protect consumer rights and combat money laundering. Meanwhile, professional investors will have fresh avenues to explore, with new investment options like foreign asset ETFs.
How do you feel about Taiwanâs new AML regulations? Will they shape the future of the crypto market? Share your thoughts in the comments below
#Binance
#AML
#InvestmentOpportunities
#VirtualAssets #Write2Earn!
$TAO
$TON
$BNB
The Financial Supervisory Commission (FSC) of Taiwan has announced that professional investors can now indirectly invest in ETFs based on "virtual assets." This "re-entrustment process" allows large-scale investors to buy foreign crypto ETFs by delegating their investment decisions to third parties.
Financial service providers must evaluate the experience and knowledge of investors before granting access. Retail investors remain prohibited from purchasing foreign Bitcoin spot ETFs due to Taiwan's cautious stance on cryptocurrencies.
The FSC aims to diversify the capital market by limiting access to "professional investors," including high-net-worth individuals and institutions. The U.S. approval of Bitcoin ETFs has influenced Taiwan and other nations to reconsider their regulations on cryptocurrencies.
This trend follows similar approvals in Canada, Hong Kong, and Thailand, and it could help legitimize Bitcoin investments globally, despite ongoing regulatory concerns.
#Taiwan #FSC #CryptoETFs #Bitcoin #Investment #FinancialRegulation #VirtualAssets
Financial service providers must evaluate the experience and knowledge of investors before granting access. Retail investors remain prohibited from purchasing foreign Bitcoin spot ETFs due to Taiwan's cautious stance on cryptocurrencies.
The FSC aims to diversify the capital market by limiting access to "professional investors," including high-net-worth individuals and institutions. The U.S. approval of Bitcoin ETFs has influenced Taiwan and other nations to reconsider their regulations on cryptocurrencies.
This trend follows similar approvals in Canada, Hong Kong, and Thailand, and it could help legitimize Bitcoin investments globally, despite ongoing regulatory concerns.
#Taiwan #FSC #CryptoETFs #Bitcoin #Investment #FinancialRegulation #VirtualAssets
X Empire Prepares for Listing: A Step-by-Step Guide to Accumulating Assets đ
X Empire Prepares for Listing: A Step-by-Step Guide to Accumulating Assets
X Empire is gearing up for a major update with the highly anticipated listing of its in-game currency, offering users the chance to trade or sell their accumulated assets. This move brings real-world value to the time and effort players invest in the game. If youâre part of the X Empire community, hereâs a step-by-step guide to help you gather coins and get ready for the listing.
1. Generate Coins at an Impressive Rate
X Empire allows users to generate coins over time, and the rate increases as you progress in the game. For example, at Level 17, players can earn coins at a rate of +276.1M per hour. The higher your level, the faster youâll accumulate coins, motivating you to stay active and increase your in-game activity.
2. Connect Your Wallet for Real-Time Tracking
To turn your virtual coins into real-world assets, itâs crucial to connect your cryptocurrency wallet to the game. By using the "Connect Wallet" option, users can securely link their wallet, ensuring all coins are tracked and ready for conversion when the listing goes live.
3. Accumulate Coins Efficiently
Your total coin balance reflects your in-game progress. In the example provided, a user has amassed 7,591,407 coins. Based on an exchange rate of 0.00001 USD per coin, this userâs XEM (NEM) holdings are worth $75.9 USD. X Empire makes it simple for players to monitor their coin balance and assess the real-world value of their virtual assets.
4. Donate for Extra Rewards
X Empire also offers the option to donate coins, unlocking extra rewards or increasing your coin generation rate. While donating is optional, it adds another dimension to the game, allowing users to boost their progress and earnings potential through interactive features.
5. Calculate Your Assets
Itâs easy to track the value of your assets. By multiplying your total coin count by the conversion rate (0.00001 USD per XEM), youâll get a clear estimate of your current asset value in USD. This feature helps players stay informed about the real-world worth of their in-game currency.
6. Prepare for the Future Listing
With the upcoming listing, X Empire users will soon be able to trade their coins on exchanges, converting them into real-world currency or other cryptocurrencies. This new marketplace opens financial opportunities for players and marks a major milestone for the platform.
As X Empire nears its listing, itâs the perfect time to focus on generating coins, connecting your wallet, and tracking your assets. This transition will bring real-world rewards, making your virtual efforts even more worthwhile.
X Empire is gearing up for a major update with the highly anticipated listing of its in-game currency, offering users the chance to trade or sell their accumulated assets. This move brings real-world value to the time and effort players invest in the game. If youâre part of the X Empire community, hereâs a step-by-step guide to help you gather coins and get ready for the listing.
1. Generate Coins at an Impressive Rate
X Empire allows users to generate coins over time, and the rate increases as you progress in the game. For example, at Level 17, players can earn coins at a rate of +276.1M per hour. The higher your level, the faster youâll accumulate coins, motivating you to stay active and increase your in-game activity.
2. Connect Your Wallet for Real-Time Tracking
To turn your virtual coins into real-world assets, itâs crucial to connect your cryptocurrency wallet to the game. By using the "Connect Wallet" option, users can securely link their wallet, ensuring all coins are tracked and ready for conversion when the listing goes live.
3. Accumulate Coins Efficiently
Your total coin balance reflects your in-game progress. In the example provided, a user has amassed 7,591,407 coins. Based on an exchange rate of 0.00001 USD per coin, this userâs XEM (NEM) holdings are worth $75.9 USD. X Empire makes it simple for players to monitor their coin balance and assess the real-world value of their virtual assets.
4. Donate for Extra Rewards
X Empire also offers the option to donate coins, unlocking extra rewards or increasing your coin generation rate. While donating is optional, it adds another dimension to the game, allowing users to boost their progress and earnings potential through interactive features.
5. Calculate Your Assets
Itâs easy to track the value of your assets. By multiplying your total coin count by the conversion rate (0.00001 USD per XEM), youâll get a clear estimate of your current asset value in USD. This feature helps players stay informed about the real-world worth of their in-game currency.
6. Prepare for the Future Listing
With the upcoming listing, X Empire users will soon be able to trade their coins on exchanges, converting them into real-world currency or other cryptocurrencies. This new marketplace opens financial opportunities for players and marks a major milestone for the platform.
As X Empire nears its listing, itâs the perfect time to focus on generating coins, connecting your wallet, and tracking your assets. This transition will bring real-world rewards, making your virtual efforts even more worthwhile.
