Saturday, November 28, 2020
Home > South

Crypto Assets in South Africa Would Be Considered Financial Products Under Regulator Proposal

Cryptocurrency assets would be treated like financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act, under a draft declaration by a financial regulator.“The Declaration would have the effect that any person furnishing advice or rendering intermediary services in relation to crypto assets must be authorised under the

Read More

South Korean Crypto Firms Must Disclose Users’ Identities Under Planned Law Change

South Korea’s Financial Services Commission (FSC) is seeking legal amendments that would make it mandatory for virtual asset service providers (VASPs) within the country to report the names of their customers.According to a press release from the financial watchdog on Wednesday, a proposed update to the Act on Reporting and

Read More

South Korean financial watchdog seeks to ban privacy coins within the country

According to a Nov. 3 announcement from South Korea’s Financial Services Commission, or FSC, virtual asset service providers within the country will no longer be able to handle any digital assets that present a high money laundering risk. These updates were made as part of the guidelines under the Special

Read More

South Korean telecom launches blockchain wallet for official documents

The South Korean telecom giant SK Telecom has announced it will issue its first digital wallet for blockchain-powered digital certificate storage and management with the approval of the Ministry of Public Administration and Security.According to NewsTomato, SK’s Wallet is compatible with the ministry’s own Government24 digital certificate initiative, which promotes

Read More

Mandatory KYC verification may contradict privacy laws in South Korea

With the South Korean government preparing to implement know-your-customer (KYC) and anti-money laundering (AML) compliance processes, there is confusion among legal experts as to whether the requirements contradict other laws.According to Digital Today, the new requirements would contravene the existing Personal Information Protection Act, which stipulates that local companies cannot

Read More

South Australian food and wine tracing platform teams up with Hedera

The Australian government-backed agricultural supply chain platform Entrust has announced it will operate on Hedera Hashgraph — a distributed ledger platform claiming a transactional throughput of 10,000 transactions per second.South Australia’s premier, Steven Marshall, officially launched Entrust on September 20, describing the platform’s initial focus as protecting the wine and

Read More

A Gov official in South Korea proposed the nation’s first blockchain voting platform

On September 11, the head of the Seocho regional government proposed a blockchain-powered voting platform for residents, and praised the recent influx of crypto-related developments across the country.According to UpDown Korea, Cho Eun-hee, who is the local government leader of one of Seoul’s most affluent districts, believes that it is

Read More

South Korean government agency to use blockchain-based employee ID system

The Korea Internet & Security Agency, or KISA, is the first public entity of South Korea to implement a blockchain-powered employee ID system through a smartphone app starting October.According to Yonhap, the agency will also issue tokens called “KISA Coin” to reward KISA’s best employees, enabling them to purchase snacks,

Read More