Wednesday, February 8, 2023
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South Korea Issues Guidelines for Regulating Security Tokens as Legislation Looms

Security tokens refer to the digitalization of securities under the Capital Markets Act using distributed ledger technology, according to the guidance, and will apply only to digital assets that qualify. The guidance clarifies that stablecoins, which are crypto pegged to the value of other currencies such as the U.S. dollar

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Solana DeFi protocol Everlend shuts down over liquidity issues

Solana decentralized finance (DeFi) protocol Everlend Finance is closing down its operations and urging clients to withdraw funds from the platform.The company announced the decision on Twitter on Feb. 1, saying that despite having “enough runway” to continue operating, it would be a gamble under current market conditions. In particular,

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US Federal Reserve Board Issues Policy Statement That Limits Banks’ Crypto Related Activities – Regulation Bitcoin News

The United States Federal Reserve Board said on Jan. 27 that both insured and uninsured banks will be subjected to limits on certain activities including those that are associated with crypto assets. The board’s latest action does not preclude a state member bank or prospective applicant from providing crypto-assets safekeeping

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UK’s FCA Issues Advice for Crypto Firms After Only 41 of 300 Applicants Win Regulatory Approval

When preparing their applications, crypto firms should include details of a business model, roles and responsibilities of business partners, and demonstrate comprehensive business-wide risk-assessment capabilities. It should also show that the business has policies, systems and controls to manage risk, the FCA said. Source

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Thailand Issues New Regulations on Custodied Cryptocurrencies – Regulation Bitcoin News

The Securities and Exchange Commission (SEC) of Thailand has issued new regulations on custodied cryptocurrencies. Companies offering crypto custody services are now required to “establish a digital wallet management system to accommodate efficient custody of digital assets and keys and ensure safety of clients’ assets,” the regulator described. Thai SEC’s New

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EU Postpones Final Vote on MiCA Legislation Again Following Issues in Legal Document Translation

The EU deferred its final MiCA legislation vote for the second time in two months.The European Union (EU) has postponed the final vote on its Markets in Crypto Assets regulation (MiCA) until April this year. Due to a technical issue, the 27-member state intergovernmental union decided to defer the decisive

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