In a surprising turn of events, two major South Korean financial institutions, Samsung Securities and Mirae Asset Securities, have suspended their brokerage services for specific Bitcoin exchange-traded funds (ETFs). This decision follows a cautionary advisory from the Financial Services Commission (FSC), South Korea’s financial watchdog, which has caused significant disruption in the local cryptocurrency scene.The […]
Despite the United States approving 11 spot bitcoin exchange-traded funds (ETFs) earlier this week, South Korea has reiterated its ban on crypto ETFs. The country’s financial institutions are prohibited from owning or buying crypto and investing in businesses offering crypto. The Financial Services Commission (FSC) of South Korea continues to restrict financial institutions from launching […]
The Financial Services Commission (FSC), South Korea’s main financial regulator, has issued a warning to local firms about brokering spot Bitcoin exchange-traded funds (ETFs) from the United States. The FSC’s statement, released on January 12, highlighted that such activities could potentially contravene the government’s current position on virtual assets and the Capital Markets Act.Despite this, […]
South Korea’s Financial Services Commission (FSC) has issued a warning to domestic securities firms brokering overseas-listed Bitcoin spot exchange-traded funds (ETFs), stating that such activities may be in violation of local laws. The notice, issued on January 12, 2024, highlights potential breaches of the Virtual Asset User Protection Act and the Capital Markets Act.The FSC […]
Swiss private bank Julius Bär has hired another executive from its fallen competitor, Credit Suisse, this time for the Southeast Asian market. Julius Bär has appointed Mun Joo Ng as Team Leader for Southeast Asia, effective from January 15, as stated in an announcement. In this newly created role, he will report to Kevin Tay, […]
Despite the recent approval of a spot Bitcoin exchange-traded fund (ETF) by the U.S. Securities and Exchange Commission (SEC), the South Korean government has reiterated its commitment to maintaining its ban on such products. South Korean regulators have made it clear that there will be no policy shift, and cryptocurrencies will not be recognized as […]
Bitwise Asset Management has pledged to donate 10% of the profits from the Bitwise Bitcoin ETF to non-profit organizations that support the open-source development of Bitcoin. The beneficiaries of this generous commitment include Brink, OpenSats, and the Human Rights Foundation’s Bitcoin Development Fund.In a statement on the Bitwise website, CEO Hunter Horsley expressed his excitement […]
Swiss banking giant UBS is looking to sell the Chinese securities business of Credit Suisse, but few potential buyers are showing interest. Amid geopolitical tensions and increasing regulatory challenges, international banks in China are facing difficult conditions. UBS, which has been building an investment banking business in China for nearly two decades, is now trying […]
Polygon Labs has launched the Libre Chain, a protocol powered by the Polygon CDK and supported by major players in institutional blockchain adoption. The Libre Chain aims to provide unparalleled access to global alternative investment funds and enhance distribution capabilities for asset managers.The Libre Chain was introduced in a post by Polygon on the 10th […]
Asia is leading the way in global wealth shift, with a forecasted growth in financial assets in the coming years. HSBC predicts that by 2025, Asia excluding Japan will surpass the US in financial wealth. The number of Asian millionaires outside Japan and China is expected to more than double by 2030. In India, the […]
