South Korea

South Korea to Implement Stricter Crypto Law with Possibility of Life Sentence

South Korea is tightening crypto rules, with potential life sentences for serious offenders. The new law, starting in July, targets illegal activities in the crypto market, like fraud and manipulation. The Financial Services Commission (FSC) of South Korea announced tough penalties, including jail time and hefty fines, for breaking the crypto law. Offenders could face…

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Hong Kong Regulates OTC Crypto Trading Platforms

Hong Kong, a global financial hub, is introducing regulations for over-the-counter (OTC) crypto trading platforms to enhance transparency and protect investors in the digital asset market. The Financial Services and the Treasury Bureau (FSTB) announced plans for a new regulatory framework in response to rising concerns over risks, including involvement in fraud cases, associated with…

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Canada Proposes Crypto Rules for Public Investment Funds

Securities regulators in Canada are suggesting new rules to bring more clarity and reduce risks for public investment funds involved in crypto assets. The proposed changes aim to limit the actions that public investment funds can take with cryptocurrencies and establish specific standards for holding these digital assets. Proposed Crypto Regulations for Canadian Investment Funds…

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Singapore Enforces Cryptocurrency Trading Rules for Retail Investors

Singapore’s central bank and financial regulator, the Monetary Authority of Singapore (MAS), has introduced stronger regulations. These measures aim to improve the rules that oversee financial activities in the country. Singapore’s central bank and financial regulator, the Monetary Authority of Singapore (MAS), has introduced stronger regulations to protect individuals and restrict their involvement in cryptocurrency…

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European Parliament Approves Crypto Tax Reporting Rule

In a significant move, European Parliament lawmakers have voted overwhelmingly in favor of a continent-wide tax-reporting rule for cryptocurrency transactions. With nearly 90% of votes supporting the measure, this decision underscores Europe’s commitment to combating fraud in the growing crypto market. During a plenary session held in Strasbourg, France, on September 13, European legislators expressed…

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