Amendments to the Capital Markets Act and the Electronic Securities Act will be put forward to South Korea's National Assembly in the first half of this year, and could see crypto companies need to self-regulate to remain in compliance. By lavender_au
Crypto players will have to go through their own classification and assess their related tokens to see if they have to put themselves forward to be regulated under the securities regime, Kim said.
Firms that don’t hold securities-related licenses will have to go through the process of obtaining licenses which can take one to two years, depending on the licenses and the business model of the company. Ang expects to see growing pains as businesses and regulators reach agreement on what is and what is not a security.
Still, “the FSC provides detailed guidance to help inform that decision and will likely assess each determination on a case-by-case basis,” Ang said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto Price Chart Widget: Embed or Share Crypto Price DataEnrich your articles, reports or publications with visualizations. Add interactive and responsive cryptocurrency price charts to your website or blog for more than 200 cryptocurrencies. Visit any CoinDesk price page to get started:
Read more »
Bitcoin reclaims $22,000, and Senate Banking Committee holds hearing on crypto crash: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Matt Hougan, the CIO of Bitwise, explains why he believes crypto prices will rally in 2023.
Read more »
South Deering shooting: Man shot in face while driving his car on Chicago's South SideA 23-year-old man was shot in the face while driving his vehicle Monday morning on Chicago's South Side.
Read more »
Regulation comes for crypto staking: Law Decoded, Feb. 6–13From legislative updates in Dubai and South Korea to the attack on crypto staking in the U.S., here’s all the major news in crypto regulation.
Read more »
Crypto, forex platform CEO pleads guilty in $248M fraud schemeEddy Alexandre, the CEO of a purported crypto and forex trading platform promised considerable daily returns for investors but really misdirected millions and used customer funds to buy luxury cars. He pleaded guilty to fraud in court.
Read more »