Crypto Regulation News

South Korean lawmaker Bae Jun-young has urged the Democratic Party to decide quickly whether to delay the crypto tax due to start on January 1, 2027. He proposed putting related bills before the National Assembly tax subcommittee on November 2, citing unresolved fairness, investor protection and overseas transaction reporting issues.

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Crypto firms already operating in Brazil must apply to the Central Bank by October 30 to remain active under transitional rules. Providers that file on time can continue serving customers while their applications are reviewed. The licensing framework covers governance, client asset safeguards and compliance requirements.

Binance says a security breach affected about $6.3 billion in crypto assets, potentially making it the largest crypto heist on record. TRM Labs attributes the attack to North Korea’s TraderTraitor unit. About $3 billion has been frozen, while Binance says there is no evidence that wallet private keys were compromised.

The FCA is escalating enforcement against crypto exchange HTX, formerly Huobi, over alleged illegal financial promotions to UK users. The regulator says HTX continued publishing promotions across its website and social media despite being placed on the FCA warning list and facing High Court proceedings.

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Russia’s regulated crypto market is moving into operation as approved brokers and financial institutions prepare trading services under Bank of Russia oversight. Retail investors must pass a suitability test and can buy up to 300,000 rubles of eligible crypto per year through each intermediary, while qualified investors receive broader access. crypto.news

Singapore Police are investigating tampered Ledger hardware wallets sold through some local retail stores after at least two cases caused about S$3.5 million in losses. Police said malicious hardware components could capture recovery phrases or private keys, allowing attackers to move crypto without the owner’s knowledge. Ledger is reviewing the affected cases.

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Alipay says it does not support cryptocurrency trading through third-party platforms and warned users about potential account and fund risks. The statement followed Peer’s beta launch allowing users to trade USDC on Base while settling yuan payments through Alipay. Peer says it has no official partnership or integration with Alipay.

Abu Dhabi Global Market has issued new guidance for crypto mining businesses operating in or from ADGM. Mining is treated as a commercial activity rather than a regulated financial service, meaning operators must obtain a Registration Authority Commercial Licence. The framework covers Proof-of-Work, Proof-of-Stake and future consensus models used for a firm’s own account.

Thailand’s Tourist DigiPay sandbox is now supporting WORPT, allowing international visitors to convert USDT and USDC into Thai baht for payments through Thai QR PromptPay. Waan Exchange received SEC approval to participate, while merchants continue receiving baht rather than crypto directly. Visa prepaid card services are also planned.

South Korea is considering a fourth postponement of its planned 22% tax on cryptocurrency gains, currently scheduled for January 2027. Industry groups and lawmakers argue that gaps in regulation and overseas transaction reporting could create uneven treatment, while the presidential office is reviewing whether implementation should move to 2029.

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