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ASIAN REGULATION

South Korea to postpone 20% crypto tax for the third time: report

South Korea’s left-wing Democratic Party agreed to push back taxation on crypto gains for another two years. The 20% levy on crypto income has already been postponed twice since 2021.

theblock.co • 02/12/2024 - 02:42 AM

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The Daily: Human outwits Freysa AI agent to win $47,000, Hyperliquid token exceeds $5 billion FDV following airdrop and more

A human crypto user, known as “p0pular.eth,” outsmarted AI agent Freysa to win a $47,000 prize in ether by tricking it into misinterpreting its “approveTransfer” function. Hyperliquid airdropped 310 million HYPE tokens on Friday, which subsequently jumped 47% following the token generation event to $5.72, according to CoinGecko. Taiwan’s Financial Supervisory Commission is set to implement stricter anti-money laundering rules for crypto service providers on Nov. 30 — a month earlier than initially planned. The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

theblock.co • 29/11/2024 - 19:11 PM

ASIAN REGULATION

Taiwan fast-tracks stricter crypto AML rules to take effect Nov. 30

The new rules will require crypto service providers, including crypto exchanges, to complete AML compliance registration. Non-compliance may lead to penalties, including imprisonment for up to two years and a fine of up to NT$5 million ($153,700).

theblock.co • 29/11/2024 - 04:39 AM

ASIAN REGULATION

Crypto clampdown vs. blockchain ambitions: Can China reconcile its policies?

The Chinese government banned crypto trading, but it has long embraced other applications powered by blockchain technology. With the U.S. electing a pro-crypto president, could China reconsider its stance on crypto? What factors could come into play as China seeks to balance crypto regulation with blockchain innovation? This is a guest post written by Anderson Sima, Executive Editor of Foresight News.

theblock.co • 22/11/2024 - 11:14 AM

ASIAN REGULATION

China ousts former digital currency chief over alleged corruption involving crypto

Yao Qian, a former head of China’s central bank digital currency institute, has been expelled from the Chinese Communist Party for alleged corruption. Yao was an influential government figure in the country’s blockchain industry and was appointed as the first head of the central bank’s digital currency research institute.

theblock.co • 20/11/2024 - 09:47 AM

ASIAN REGULATION

South Korea to push 20% crypto tax in 2025 with higher exemption limit: report

South Korea’s ruling Democratic Party plans to forge ahead with the planned crypto tax from the start of 2025. The party, however, is looking to raise the tax exemption limit from about $1,795 to $35,919.

theblock.co • 20/11/2024 - 06:23 AM

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The Daily: Dogecoin investors drop class-action lawsuit against Elon Musk, Michael Saylor plans $100K bitcoin party and more

Dogecoin investors dropped their lawsuit against Musk; JPMorgan forecasts crypto-friendly changes under Trump; RFK Jr. nominated for health position; Upbit faces KYC violations; Saylor plans $100K bitcoin party.

theblock.co • 15/11/2024 - 20:16 PM

ASIAN REGULATION

Hong Kong regulator takes aim at crypto firms posing as banks

The HKMA warns that two overseas crypto firms misrepresented themselves as banks, potentially misleading consumers and violating local banking regulations amid Hong Kong's push to become a crypto hub.

theblock.co • 15/11/2024 - 11:30 AM

ASIAN REGULATION

South Korea’s Upbit under probe for at least 500,000 KYC violations: report

Upbit, South Korea's largest crypto exchange, allegedly failed KYC procedures for 500,000+ accounts, risking fines and license renewal amid regulatory scrutiny.

theblock.co • 15/11/2024 - 11:21 AM

ASIAN REGULATION TOKENIZATION

Singapore plans further commercialization of tokenized assets to ‘deepen liquidity’

MAS has launched two frameworks for asset tokenization in fixed income and funds to enhance efficiency and liquidity in financial markets, involving significant industry collaboration.

theblock.co • 04/11/2024 - 10:44 AM

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