virtual assets

South Korea maintains its firm stance against recognizing virtual assets as financial assets and continues to prohibit financial institutions from investing in them. In a recent discussion, an official from South Korea's Financial Services Commission reiterated the government's consistent...

Taiwan is cautiously approaching the introduction of cryptocurrency exchange traded funds (ETFs), with the Financial Supervisory Commission (FSC) indicating a need to closely monitor global trends in the crypto market. What Happened: The FSC has noted the significant price volatility in...

The Hong Kong Securities and Futures Professionals Association wants to create an initial coin offering (ICO) portal as part of a broader set of recommendations aimed at enhancing economic recovery post-epidemic. What Happened: In a letter to Financial Secretary Paul Chan Mo-po and Deputy Financial...

Over 130 Hong Kong citizens have fallen prey to a sophisticated cryptocurrency fraud, losing a staggering HK$120 million (US$15.4 million). The victims expressed frustration, stating that the Securities and Futures Commission's (SFC) identification of the involved platform, Hounax, as...

Crypto exchange OKX has applied for a virtual asset trading platform (VATP) license in Hong Kong, positioning its Hong Kong branch, OKX Hong Kong FinTech, at the forefront of the city's efforts to become a key cryptocurrency hub in the region. The application, submitted on Nov. 16, is...

The National Pension Service (NPS) of South Korea purchased a stake in Coinbase (NASDAQ: COIN), the largest virtual asset exchange in the U.S. What Happened: The NPS acquired approximately 282,673 shares, a $20 million (26.1 billion won) value. The deal marks the NPS’s first inclusion of...

Hong Kong's leaders are currently evaluating the potential to open up the market to exchange-traded funds (ETFs) that would invest directly in cryptocurrencies. This move is part of a broader initiative to establish Hong Kong as a central hub for digital assets in the Asia-Pacific region,...

SEBA on Wednesday announced it has extended its regulatory reach to Asia. What Happened: The crypto bank has a new license from the Securities and Futures Commission (SFC) in Hong Kong. Through its subsidiary, SEBA Hong Kong, the firm is now authorized to offer a wide array of regulated...

Hong Kong's key financial regulator, the Securities and Futures Commission (SFC), released a circular with the Hong Kong Monetary Authority (HKMA) on Oct. 20, acknowledging the rapidly evolving virtual asset landscape and its increasing alignment with mainstream finance. This transformation has...

A survey conducted by The Hong Kong University of Science and Technology's School of Business and Management shows a notable uptick in skepticism toward crypto investments among the Hong Kong populace. This shift in public sentiment is noteworthy as the global discourse around digital assets...

Bittrex Global CEO Oliver Linch recently spoke with Benzinga about the transformative potential of blockchain, the UK's regulatory approach, and the rise of decentralized finance (DeFi). "Nobody denies that there is something really important going on here," he stated. Linch...

In a bid to streamline the burgeoning digital currency landscape, Taiwan's Financial Supervisory Commission (FSC) has rolled out a comprehensive set of guidelines. The rules are tailored for virtual asset platforms and transaction business enterprises, or VASPs. The forthcoming Benzinga...

Following the crackdown on crypto exchange JPEX, currently embroiled in a HK$1.3 billion ($166 million) scandal, Hong Kong's Securities and Futures Commission (SFC) is taking decisive steps to bolster transparency and investor protection. One of the most notable actions is the publication...

South Korea's taxation body revealed that this year, individuals and firms disclosed foreign cryptocurrency assets amounting to 130.8 trillion won ($98.5 billion). This comes after South Korea mandated the declaration of foreign crypto assets, The Block reported. Incorporating this into the...

Hong Kong authorities detained eight individuals in connection with the cryptocurrency platform JPEX on charges of conspiracy to defraud. The police disclosed that they had been inundated with 1,641 complaints regarding JPEX, with users alleging their inability to access their funds on the platform...