The head of enforcement at South Africa’s financial industry watchdog said on Jan. 24 that he expects the organization to decide the fate of 50 crypto firms’ license applicants in the coming weeks. The watchdog stated that from the more than 100 entities that applied for a license, 20 have since withdrawn from their respective […]
South African fintech startup Ukheshe recently announced that it has acquired a 100% stake in EFT Corporation, an Africa-focused payment services provider. According to the startup, the acquisition takes Ukheshe closer to its stated goal of attaining a larger footprint in Africa and beyond. Access to New Technologies and Markets The South African fintech …
Financial authorities are preparing to issue cryptocurrency mixing-specific regulations in South Korea to stop criminal groups from using these tools to launder funds obtained illegally. The Korean authorities are discussing whether to allow virtual asset service providers (VASPs) to reject transactions from these privacy-enhancing services. South Korea Starts Discussing Cryptocurrency Mixing Regulations Korea might enact […]
In the last 100 days, South Korea’s crypto trading activity has experienced a significant upswing. The country’s leading crypto exchanges, Upbit and Bithumb, recorded their highest trading volumes in the initial week of January 2024. Despite the noticeable premium on South Korea’s crypto assets, the most popular traded coins in this region differ from the […]
South Korea persists in its stance against allowing financial institutions to invest in digital currencies, effectively blocking the launch of any crypto exchange-traded fund (ETF) within its borders. A representative from the Financial Services Commission (FSC) clarified to local journalists that this policy will remain in effect. Concurrently, bitcoin’s value in South Korea is experiencing […]