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South Korea’s Financial Supervisory Service (FSS) is preparing regulations to supplement the Virtual Asset Users Protection Act passed earlier this year, according to local reports. New regulations should be ready by January, well ahead of the law entering into force, the FSS head said.The South Korean National Assembly Political Affairs
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Under the proposals, which would take effect in 2025, “banks would be required to disclose qualitative information on their activities related to cryptoassets and quantitative information on exposures to cryptoassets and the related capital and liquidity requirements,” said the committee, which is linked to the Bank for International Settlements, a
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A Chinese foreign exchange regulator official showed its support for the CBDC development, the digital yuan. Lu Lei, deputy administrator of the State Administration of Foreign Exchange (SAFE), explained to the CNA agency that some of the main features of CBDC could help enhance the effectiveness of monetary policy tools. The official
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The Autorité de contrôle prudentiel et de résolution (ACPR) published some guidelines on DeFi regulatory framework based on a public consultation. The regulator conducted a series of interviews and assessments with a significant player from the crypto ecosystem to understand the current situation surrounding the defi market. In April 2023, the ACPR
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On Oct. 12, the Autorité de Contrôle Prudentiel et de Résolution (ACPR), part of the French Central Bank, published a summary of its public consultation on a regulatory framework for decentralized finance (DeFi).The public consultation lasted two months, from April to May 2023, in response to the initial paper discussing
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ESMA, responsible for rulemaking under the bloc’s landmark new crypto law MiCA, is worried about new forms of market manipulation when there’s no central counterparty Source
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The North American Securities Administrators Association (NASAA) filed a brief supporting the SEC’s lawsuit against Coinbase. The NASAA, a group of state and provincial regulators from the US, Canada, and Mexico, has joined the SEC and filed a brief supporting its case. NASAA says that the Securities and Exchange Commission (SEC) is
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The United Kingdom’s financial markets regulator, The Financial Conduct Authority (FCA), had a busy Sunday on Oct. 8, as it added several crypto exchanges to its warning list of non-authorized firms that customers “should avoid.”143 new entities were added to the warning list, including major exchanges such as Huobi/HTX and
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The European Securities and Markets Authority (ESMA), the European Union’s markets regulator, released a second consultative paper on Markets in Crypto-Assets (MiCA) mandates on Oct. 5. In the 307-page document, the ESMA seeks stakeholders’ input on five areas of MiCA, including sustainability indicators for distributed ledgers, disclosures of inside information, technical
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The Hong Kong Police Force (HKPF) and the Securities and Futures Commission (SFC) have set up a crypto-focused working group to deal with illicit crypto exchange activities.In an Oct. 4 statement, the SFC said the group was formed after a meeting with the HKPF on Sept. 28 amid continuing arrests
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