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Binance, the world’s largest cryptocurrency exchange, is facing significant turmoil. It is under investigation by the U.S. government for alleged money laundering and securities violations, with the SEC charging the company and its CEO, Zhao Changpeng, for misleading customers about…
A recent report reveals that South Korean individuals and corporations hold over 130 trillion won in virtual assets (coins) in overseas exchange accounts and wallets. Among individuals, those under 30 hold 8.3 trillion won, making up 80 percent of the…
Mark Cuban, owner of the Dallas Mavericks and a prominent figure in the cryptocurrency industry, recently fell victim to a cyber-phishing attack, losing over $800,000 in cryptocurrency. The attack occurred on September 16 and targeted his MetaMask wallet, resulting in…
The Delaware bankruptcy court has given the green light for FTX, a bankrupt cryptocurrency exchange, to sell its cryptocurrency holdings, totaling $3.4 billion. The court approved FTX’s asset sale plan, allowing them to gradually release up to $100 million of…
On July 26, the Joint Investigation Team for Virtual Asset Crimes, comprising experts from seven organizations, including the Prosecutors’ Office and the Financial Supervisory Services, was officially established. This team is tasked with promptly investigating crimes related to virtual assets,…
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has stood by his call for cryptocurrencies to be subject to the same laws as securities ahead of a hearing. “A lot of problems arise from the (crypto) industry’s failure to…
Upbit, a domestic virtual asset exchange, has recently garnered remarkable attention for its strong commitment to ESG (Environmental, Social, Governance) management. In a survey conducted by Data & Research during the first half of the year, analyzing ESG management interest…
In a recent ruling, the U.S. court rejected the implications of the Ripple case concerning the ongoing legal battles involving Terraform Labs and the U.S. Securities and Exchange Commission (SEC). Judge Jed Rakoff expressed disagreement with the approach taken by…
The Seoul Southern District Prosecutors’ Office’s Virtual Asset Joint Investigation Team, which will deal with virtual asset crimes, will be launched on the 26th. This is the first time a dedicated cryptocurrency organization has been established in the prosecution. With…
The Financial Services Commission has announced new accounting standards aimed at increasing transparency in virtual asset accounting and disclosure. These standards seek to improve transparency through two main ways: establishing accounting standards based on the type of virtual asset transaction…
