Gyeonggi-Do, South Korea Requires Public Officials Above Level 4 To Report Virtual Asset Holdings by September 1
According to the announcement made by Gyeonggi Province, South Korea today, the revision of the "Behavioral Norms for Gyeonggi Province Public Officials" has been completed. It requires public officials of level 4 or above in Gyeonggi Province to report their holdings of virtual assets such as Bitcoin before September 1st, and if necessary, to verify their relevance to their duties, and take preventive measures based on the information obtained to prevent them from seeking personal gain during their duties.
Vice President of the Asian Society of Financial Technologists: Web3.0 Is a Natural ESG Tool
Chen Yingfeng, Vice Chairman of the Asian Financial Technology Association, stated in a Ming Pao special issue that Web3.0 is a natural tool for ESG, and the two complement each other with mutually beneficial effects.
Members of the Hong Kong Legislative Council: Virtual Asset Exchange License Applications Are Active, and the Salary of the Person in Charge of the ATS License Is High
On August 14th, according to the Ming Pao News website, after Hong Kong's regulatory agency established a regulatory framework for virtual assets, the industry has been actively applying for virtual asset licenses. Legislative Council member Li Wei-hong stated that due to the high demand in the market, the salary of personnel (RO) responsible for the 7th license (ATS, automatic trading system) has been increasing.
HashKey Capital to Launch Regulated Liquid Digital Assets Fund in Hong Kong
Digital asset financial services firm HashKey Capital is set to launch a liquid digital assets fund regulated by the Hong Kong Securities and Futures Commission on September 1. The open-ended fund will focus solely on virtual assets and aims to raise at least $100m. The move comes after Hong Kong emerged as a global crypto hub following the creation of a digital asset regulatory structure. The new fund will open less than nine months after the close of the HashKey FinTech Investment Fund III, which raised $500m from institutional investors.
Xu Zhengyu, Director of the Hong Kong Treasury Bureau: Since October 22, More Than 90 Virtual Asset-Related Companies Have Expressed Their Intention To Settle in Hong Kong
During his visit to the three ASEAN countries (Singapore, Indonesia and Malaysia), Xu Zhengyu, director of the Hong Kong Treasury Bureau, said that since the publication of the "Policy Declaration on the Development of Virtual Assets in Hong Kong" in October last year, more than 90 mainland and overseas companies related to virtual assets Expressed intention to settle in Hong Kong.
Eleven South Korean Parliamentarians Have Voluntarily Declared Virtual Assets and Their Transaction Details, and Plan To Make Them Public Within This Week
Korean media News1 reported that 11 members of South Korea have voluntarily declared their possession of virtual assets and transaction details to the National Assembly Ethics Review Advisory Committee, including the Minister of Unification. After analyzing the cumulative number and total amount of transactions of virtual assets, transaction items, and their standing committees, the Advisory Committee believes that at least half of the 11 members of Congress may have conflicts of interest, including Representative Kim Nam-guk.
South Korean Crypto Finance Company Delio Will Suspend Some Services and Stop Paying Interest on Virtual Assets
South Korean encrypted financial company Delio announced that it will suspend some services and stop paying interest on virtual assets. During the July 18 seizure, all assets owned by the client and the company were confiscated by prosecutors, Delio said.
Hacker Behind $9 Million Crypto Attack on Solana-Based Exchange Charged With Wire Fraud and Money Laundering
In July 2022, a hacker exploited a smart contract bug to steal $9 million in virtual assets from a decentralized Solana-based crypto exchange. The hack took place over the Solana-based liquidity protocol Crema Finance. The accused was charged with wire fraud and money laundering and has been detained in New York. The accused left a trail that law enforcement was able to follow due to the blockchain's ability to track movements. The hacker was allowed to keep $1.6 million as a white hat bounty.
South Korean Government Introduces New Guidelines for Crypto Accounting to Prevent Recurrence of WEMIX Controversy
The South Korean government has introduced new guidelines for the accounting of virtual assets in response to the confusion and market uncertainty caused by the lack of clear accounting standards for cryptocurrencies. The Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) have prepared specific guidelines for supervisory work, which fall within the scope of reasonable interpretation of the International Financial Reporting Standards (IFRS).
Hong Kong Finance School Plans to Teach Virtual Asset Trading
The Hong Kong Securities and Investment Institute (HKSII) is set to train the next generation of licensed crypto traders as the city becomes a confident crypto hub. The HKSII is responsible for training and conducting license exams for brokers and asset managers in Hong Kong, with about 30,000 candidates taking its examinations annually.
