New Virtual Asset Protection Act Takes Effect in South Korea

South Korea’s Act on the Protection of Virtual Asset Users went into effect on July 19, 2024, aiming to protect users and ensure market stability. Initially revised in 2021 to mandate virtual asset service providers (VASPs) to register and adhere to anti-money laundering regulations, it became evident that further measures were necessary to combat unfair … Read more

Uzbek Court Sentences Student to 10 Days in Prison for Crypto Sales

A 24-year-old Termez State University graduate has been sentenced to 10 days of administrative imprisonment for selling cryptocurrency notcoin. Termez State University is a public institution located in the capital of Surkhandarya province, Uzbekistan. The court found him guilty of violating laws governing the circulation of crypto assets. The case began when a complaint was … Read more

EU Anti-Money Laundering Laws Ban Provision of Services for Anonymous Cryptocurrency Accounts

A new set of anti-money laundering laws passed by the EU has banned crypto asset service providers from servicing and providing custody to anonymous cryptocurrency accounts. The approved proposal for the “prevention of the use of the financial system for the purposes of money laundering or terrorist financing” alleges these assets present “risks of misuse … Read more

Spanish Court Upholds Privacy Watchdog’s Decision to Halt Worldcoin Activities

The Audiencia Nacional (National Hearing), a Spanish special tribunal, has maintained the measures that the AEPD, the private data watchdog in the country, has taken against Worldcoin. The court determined that the defense of the general interest of protecting the people’s data must prevail over the company’s economic interest. Spanish Audiencia Maintains Suspension of Worldcoin … Read more

Argentine Senate Passes Reform Creating Cryptocurrency Entities Registry

The Argentine Senate passed a law that creates a registry for any institution that offers cryptocurrency services in the country. The CNV, the Argentine securities enforcer, will manage this registry, which also establishes obligations for crypto companies to deliver personal information on their customers and other data to government entities. Argentine Senate Passes Crypto Anti-Money … Read more