News with the tag "FSC"

The People Power Party (PPP), one of South Korea’s main right-wing political parties, recently announced plans to push forward a new bill to support the country’s cryptocurrency asset sector. The new legislative initiative, named the ‘Digital Asset Promotion Basic Act’, aims to cement the country’s ...

South Korea’s Financial Intelligence Unit (FIU) is strengthening its Anti-Money Laundering laws to mitigate financial crimes involving cryptocurrencies. The FIU of South Korea’s Financial Services Commission hosted a meeting to discuss countermeasures against new money laundering methods. Let’s expl...

The winds of change are blowing strong in South Korea’s financial sector, and cryptocurrency is right in the eye of the storm. South Korean Financial Services Commission (FSC) Chairman, Kim Byoung-hwan, has stepped into the spotlight, making a compelling case for the accelerated development of a rob...

The South Korean Financial Intelligence Unit has imposed a three-month ban on crypto deposits and withdrawals for new Upbit customers. The South Korean cryptocurrency exchange also emphasized that the ban “may be subject to change” via procedures in accordance with relevant regulations. Upbit iterat...

South Korea’s leading financial regulator will permit charities, universities, and cryptocurrency exchanges to sell specific digital assets in the first half of the year, citing “growing demand” for institutional crypto trading. This decision follows last month’s reported announcement by the Financi...

Korea Exchange chairman Jeong Eun-bo recently pushed for the country’s approval of crypto exchange-traded funds (ETFs). Amid the country’s stock market crisis, he urged revamping South Korea’s financial industry to strengthen the market and compete with other nations. South Korea ‘Needs’ Crypto ETFs...

French Hill, the U.S. House Financial Services Committee Chair, and Bryan Steil, the Digital Assets Subcommittee Chair, released a discussion draft of a bill to regulate stablecoins. The proposed Stable Act of 2025 will impose a two-year ban on stablecoins solely backed by self-issued digital assets...

The Taiwan FSC plans to propose a draft law in June 2025, allowing local banks to issue stablecoins tied to the new Taiwan dollar. According to a report from local media outlet Money UDN, the Taiwan Financial Supervisory Commission wants to introduce a draft law covering virtual asset service provis...

The Taiwan Financial Supervisory Commission (FSC) has revealed plans to propose a draft law on virtual asset service providers (VASPs) in June 2025. The draft will allow Taiwan banks to issue stablecoins for the first time. Although Taiwan’s authorities have not yet approved the stablecoins currentl...

South Korea’s largest crypto exchange, Upbit, has reportedly received a suspension notice from the Financial Services Commission (FSC) for allegedly violating anti-money laundering (AML) and Know-your-client (KYC) requirements. Upbit Faces Suspension Of Up To 6 Months On Thursday, the Maeil Business...