NewsFeeds: Regulation
Crypto regulation news: SEC and CFTC actions, new laws and court rulings worldwide, rewritten by AI in our own words, credited and linked.
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Tue 3 Nov
South Korea finance ministry says no decision on taxing perpetual futures on overseas exchanges
South Korea's finance ministry says it has not decided whether to tax perpetual futures traded on overseas exchanges.
Thailand SEC proposes letting digital asset operators apply for derivatives licences
Thailand's SEC is consulting on draft rules to bring digital assets within the Derivatives Act as eligible underlying assets, allowing operators to seek derivatives licences without forming a new company. The licence fee would be 500,000 baht, waived for existing exchanges, brokers and dealers.
Thailand's SEC opens consultation on digital asset derivatives licences
Thailand's SEC has opened public consultation until 28 November on draft rules letting digital asset operators apply for derivatives business licences without forming a new company, with a 500,000 baht fee. Existing exchanges, brokers and dealers would be exempt; custodians could not apply for clearing house licences.
Delphi Digital's Gabriel Shapiro says legal risk deters privacy coin rivals
Gabriel Shapiro, legal counsel at Delphi Digital, says privacy coins and protocols are hard for rivals to copy because few developers will risk criminal liability, citing the ongoing trial of Tornado Cash developer Roman Storm. He argues these legal risks can act as an investment factor by blocking competitors.
South Korean Tesla holders face tax on $23.1bn stake if SpaceX merges
South Korean holders of Tesla shares could face a tax bill on a $23.1bn stake without selling if SpaceX merges with the carmaker.
Hyperliquid's Jeff Yan says US entry hinges on compliance of operating entity
Hyperliquid co-founder Jeff Yan says entering the US market depends on an independent operating entity above the protocol completing regulatory compliance. The HIP-3 upgrade lets third parties deploy derivatives markets on assets such as stocks, gold and crude oil, and ICE has invested in ecosystem project Trade.xyz, whose cumulative volume has passed $500bn.
Previous related news
- ICE reissues trade.xyz announcement with 'plans to introduce' and regulatory approval caveats
- NYSE parent ICE deletes post on trade.xyz partnership
- ICE deletes Trade.xyz partnership tweet but keeps repost of promotional copy
Trump backs pro-crypto Harriet Hageman in Wyoming Senate race
Donald Trump has endorsed pro-crypto Republican Representative Harriet Hageman in the Wyoming Senate race against Democrat James Byrd for the seat being vacated by Cynthia Lummis. Hageman backed the CLARITY Act, the GENIUS Act and a CBDC issuance ban in the House in July last year.
Previous related news
- Seth Meyer says midterms usually hurt the ruling party as US stock futures rise
- Lummis says $6.3bn in crypto stolen this week, backs CLARITY intelligence pilot
- Crypto PACs spend nearly $170m ahead of US midterms, favouring Republicans
ZachXBT says suspected hacked EU entity hit by another $27m in withdrawals
ZachXBT says a European institution previously suspected of being hacked saw more than $27m in further abnormal withdrawals from centralised exchanges, bringing the total to over $133m. He says the victim may be a large Western European financial institution concealing the incident, and that over $30m was laundered before EU authorities could act.
Lee Jae Myung calls for cross-government cybersecurity body after crypto thefts
South Korean President Lee Jae Myung, citing a recent multi-billion-dollar crypto theft from Binance, called at a cabinet meeting on 3 November for a cross-government cybersecurity coordination body covering the public and private sectors. He said AI is making hacks more sophisticated, and the National Intelligence Service has begun emergency checks at more than 2,100 government and public bodies.
Previous related news
- Binance uses about half of SAFU Bitcoin reserves with no refill timeline
- CFTC chair Michael Selig says Binance hack shows need for offshore exchange rules
- Binance says it will resume withdrawals in phases across several networks
South Korea's deposit insurer reviews wider coverage including crypto assets
South Korea's Korea Deposit Insurance Corp. is reviewing extending protection to defined benefit pensions and temporarily large deposits above 100m won, plus measures for digital assets and protection based on the actual owner of funds.
Thai police probe crypto gambling site Shuffle and trace fund flows
Thai cyber police have begun tracing funds linked to crypto gambling site Shuffle.com, setting up 80 investigative teams and securing transaction data from three exchanges. Gulf Binance identified two wallets tied to 44 people that handled over 400 Shuffle transactions worth about $113,000.
South Korea FSS chief orders security review including crypto firms
South Korea's FSS chief has ordered a sector-wide security review, including crypto firms, with access to be blocked if flaws are found.
Previous related news
- South Korea's FSC to hold emergency AI security meeting with five bank chiefs on 5 Nov
- Bithumb hack may have exposed customer data, Yonhap says
- South Korean police open preliminary probe into hacks at Mirae Asset, Daishin Securities and Bithumb
Hong Kong SFC's Christina Ng says tokenised gold ETF may be next pilot
Christina Ng of the Hong Kong SFC said an Innovation Pathway will link tokenised funds with digital money, and a tokenised gold ETF may be the next pilot. Hong Kong has 17 approved tokenised retail products with $1.3bn in assets.
South Korea's FSC reviews crypto exchange security after Binance hack
South Korea's Financial Services Commission is reviewing the security of local crypto exchanges following a hack at Binance and is weighing broader withdrawal limits.
North Korea denies link to last year's Bybit hack and accuses US of misleading
North Korea has denied involvement in last year's Bybit hack and accused the US of misleading world opinion, KCNA reported. It also said the US had announced the seizure of stolen crypto assets for a national strategic reserve.
THORChain and Maya hold to censorship resistance as FBI pressure mounts over hacker funds
Decentralised exchanges face a fight over the survival of permissionless finance amid fragile nodes, frequent outages and a rule on criminal funds making up 10% of flows, as THORChain and Maya keep to censorship resistance.
Mon 2 Nov
Custodia asks US Supreme Court to hear Fed master account appeal
Custodia Bank has filed its final reply brief urging the US Supreme Court to review the Federal Reserve's refusal to grant it a master account, arguing the Monetary Control Act of 1980 requires the Fed to serve eligible nonmember banks. The 10th US Circuit Court of Appeals previously sided with the Fed, with Judge Timothy Tymkovich dissenting.
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