South Korea plans to make licensing digital currency industry stricter
The FSC report highlights new regulations that introduce stricter licensing requirements for digital currency exchanges and token issuers based on the risks involved.
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South Korea to begin enforcing digital currency regulatory framework by 2024: report
A document titled the 'National Task Implementation Plan' confirmed that South Korean President Yoon Suk-yeol is looking to introduce the Digital Asset Basic Act (DABA) in 2023.
Philippines SEC issues warning vs Leefire digital asset pyramid scheme
The SEC warned that Leefire, which is issuing an ICO and promising lucrative returns, isn’t licensed to service the local market with its pyramid-like products.
Equality of the law
The control of the Bitcoin network is distributed between the developers of the network creating the code and the enforcement through the nodes.
Amended China laws seek 10-year sentence for ICO fundraisers
China’s highest court has amended the country’s laws to impose harsher sentences on those that raise money through ICOs, including over ten years behind bars.
Crowd Machine ICO hit with fraud charges over $41M token sale in 2018
Founder Craig Derel Sproule allegedly diverted some of the funds to gold mining operations in South Africa after promising to fund a decentralized software protocol.
Steve Bannon-linked media outlet ordered to pay $539M in SEC settlement over illegal ICO
The U.S. Securities and Exchange Commission charged New York-based GTV Media Group and Saraca Media Group, as well as Arizona-based Voice of Guo Media Inc. in connection with the illegal stock offering.
Block.one wash trading? New report puts EOS developer in more jeopardy over controversial ICO
Integra FEC recently issued a report authored by University of Texas professor John M. Griffin featuring the provocative title, “Were ETH and EOS Repeatedly Recycled during the EOS Initial Coin Offering?”
Alchemy Coin CEO sentenced to 7 years for $7M COVID relief and ICO scams
Justin Cheng, who is charged with defrauding the U.S. government with over $7 million in a well-orchestrated COVID relief scam, has been sentenced to seven years in prison by a federal court.
California judge sides with OPSkins in WAX ICO lawsuit
OPSkins will be settling their dispute with digital currency asset managers Crypto Asset Fund and Digital Capital Management outside of court.
Texas securities adds crypto to list of top threats to investors
Cryptocurrencies require scrutiny and should be traded with care, according to the Texas State Securities Board.
Blockvest spared default judgment in SEC fraud case
The project was sued by an elderly couple who had lost money in its initial coin offering (ICO).