Hong Kong’s Crypto Framework Near Completion — 11 Platforms Awaiting Approval

Hong Kong’s Securities and Futures Commission (SFC) has confirmed that the full regulatory framework for digital assets is set to be completed by next year, according to CEO Liang Fengyi. She also noted that 11 more crypto platforms are in the process of applying for licenses, with the first round of assessments already finished. SFC … Read more

Taiwan’s Regulator Allows Professional Investors to Access Digital Asset ETFs

Taiwan’s Financial Supervisory Commission (FSC) has allowed professional investors to venture into foreign virtual asset exchange-traded funds (ETFs) via sub-brokerage. By allowing more diverse investment channels, the FSC aims to boost local brokerage operations while carefully managing the high risks of virtual assets. Stringent measures, including investor suitability checks and mandatory risk disclosures, ensure that … Read more

South Korean Universities Face Banking Hurdles in Converting Crypto Donations to Cash

South Korea’s regulations prohibiting corporations from opening virtual asset exchange accounts are making it impossible for local universities to liquidate their large cryptocurrency donations. Financial authorities cite money laundering concerns as the reason for maintaining the ban. Education Ministry and Financial Intelligence Unit Favor Maintaining Ban South Korean universities are reportedly unable to convert cryptocurrency … Read more

UAE Now Requires Agents to Report Real Estate Transactions Where Virtual Currency Is Used as Payment

The United Arab Emirates (UAE) has said it now requires real estate agents, brokers, and law firms to report to the Financial Intelligence Unit real estate transactions in which virtual currency is used as payment. Similarly, real estate purchases or sales where “the funds used in the transaction are derived from a virtual asset” must … Read more

Tax Friendly Saint Kitts and Nevis Approves Progressive Crypto Bill, Lenient Capital Gains Exemption

The island country of Saint Kitts and Nevis, located in the West Indies, recently passed a bill that legalizes digital currency assets like bitcoin cash. The act is cited as the Virtual Asset Bill 2020 and it aims to provide the regulation of cryptocurrencies for Saint Kitts and Nevis businesses and residents. Also Read: IOTA, … Read more