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Asian Regulators Update Crypto Regulations

Regulators in Asia have made updates to cryptocurrency regulations. Japan will enforce stricter Anti-Money Laundering measures, including the “Travel Rule,” starting from June 1.

South Korea has implemented new laws requiring officials to report their holdings of cryptocurrencies, and the Hong Kong Securities and Futures Commission will soon allow licensed platforms to serve retail investors.

Beijing’s municipal government has also unveiled a white paper to foster innovation and advance the Web3 industry. Meanwhile, the International Organization of Securities Commissions is working to help policymakers regulate cryptocurrency more effectively, and Norges Bank, the central bank of Norway, is considering its own approach to crypto asset regulation.

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