South Korea's Supreme Court unveiled draft amendments to formalize seizure and liquidation of cryptocurrencies in civil enforcement. Courts can freeze assets, liquidate via licensed providers, or convert to BTC. Public consultation ends Aug. 11, with October rollout expected.
Tether teams up with Georgia to issue the official Lari-pegged stablecoin GELT, focusing on cross-border payments. The initiative follows Georgia's March stablecoin regulation, but key terms remain undisclosed, signaling early-stage talks.
At least four Taiwanese financial holding groups have reportedly approached local VASP platforms about potential acquisitions, with MaiCoin and BitoGroup seen as prime targets as virtual asset legislation advances.
Taiwan lawmaker Ko Ju-chun proposed tax incentives for VASPs, a domestic Bitcoin ETF, and a virtual asset education fund. The Executive Yuan and financial regulators said review reports on the proposals could be delivered within one month.
Taiwan’s VASP industry association has adopted a new name and created three committees covering token listing reviews, discipline, and anti-fraud compliance, while urging regulators to include a transition period in upcoming legislation.
With MiCA’s July 1 deadline approaching, unlicensed crypto platforms in Europe may have to stop operating. Industry estimates say more than 10 million users could be forced to move, while up to 80% of firms may exit.
VerifyVASP has acquired Japan-based Sygna, aiming to fold its members into the Verified Network and broaden cross-market connectivity for Travel Rule compliance.
The Travel Rule, originally a bank wire standard, now applies to crypto, requiring exchanges to share KYC/AML data. Thresholds vary sharply: US at $3,000, EU at zero. Data moves off-chain via secure channels, not on the blockchain. Privacy and compliance tensions mount.
