News list for " Financial Services"
On July 12, local time on Friday, Pulte, the director of the Federal Housing Finance Agency, issued a statement on the rumors that Federal Reserve Chairperson Jerome Powell is considering resigning, saying, "I am encouraged by the reports that Jerome Powell is considering resigning. I think this will be the right decision for the United States and the economy will prosper as a result." Analyst Adam Button said, "This is an odd statement because it indicates that there are reports that Powell is ...
Kim Byung-hwan, chairperson of South Korea's Financial Services Commission (FSC), said he plans to announce his position on allowing businesses to invest in virtual assets (cryptocurrencies) as soon as possible, while also expediting preparations for the stablecoin regulatory system and the second phase of legislation.
South Korea's Financial Services Commission (FSC) has reported its first case of unfair trading under the Virtual Asset User Protection Act, which came into effect in July 2024 and requires local virtual asset service providers (VASPs) to report unusual trading and investigate unfair trading patterns. According to the FSC, the suspect used a "pump and dump" technique to manipulate the market, artificially inflating the price of a cryptocurrency by initiating multiple payers, and then selling a l...
South Korea's Financial Services Commission (FSC) said it plans to gradually lift restrictions on institutional investors opening accounts on cryptocurrency exchanges. The FSC will work with the Digital Assets Commission to open up the participation of non-profit organizations for the first time. Currently, South Korea's Financial Information Use Act only allows real-name verified retail investors to trade cryptocurrencies. The move is part of President Yoon's commitment to promote the developme...
Japan's Financial Services Agency (FSA) recently put forward some ideas on cryptocurrencies and stablecoins to the Financial System Commission's Payment Services Working Group, mentioning reluctance to allow banks other than trust banks to issue stablecoins. For stablecoins issued by trust banks, the FSA wants to relax the current reserve requirement that all assets must be held in the form of bank demand deposits....
The Monetary Authority of Singapore today announced plans to advance the tokenization of financial services, including the formation of commercial networks to deepen the liquidity of tokenized assets; the establishment of a market infrastructure ecosystem; the cultivation of an industry framework for the implementation of tokenized assets; and the use of common settlement facilities for tokenized assets.
South Korea's Financial Services Commission (FSC) is actively pushing for amendments to the law to critically scrutinize major shareholders and governance of crypto exchanges. Currently, the FSC lacks the statutory authority to scrutinize shareholders under existing laws, including the Virtual Asset User Protection Act. In a parliamentary audit, FSC Chairperson Kim Byoung-hwan said that amendments to the Act on Reporting and Use of Specific Financial Transaction Information have been submitted t...
Hong Kong's Deputy Secretary for Financial Services and the Treasury, Chen Hao Lian, called on investors to participate in the trading of virtual currencies through licensed exchanges. Chen Hao Lian said that the Hong Kong government is working hard to build the entire ecosystem. At present, Invest Hong Kong is actively promoting relevant enterprises to expand their business in Hong Kong. The ecosystem of virtual assets is not only exchanges, but also virtual asset exchange traded funds, as well...
According to the official website, Japan's Financial Services Agency said that according to Article 63-16 of the Japanese Securities Law, the Kanto Local Finance Bureau issued a business improvement order to cryptocurrency exchange DMM Bitcoin.
At a House Financial Services Committee hearing, Gary Gensler, chairperson of the Securities Exchange Commission, was criticized by lawmakers and members of his agency for his handling of U.S. cryptocurrency regulation. U.S. Congressman Tom Emmer slammed SEC Chairperson Gary Gensler as the most "disruptive" and "lawless" in the regulator's 90-year history.
