Analysis News TheBitTimes.com

South Korea’s Financial Supervisory Service (FSS), the nation’s primary financial regulator , is setting its sights on the United States for guidance on the intricacies of spot Bitcoin exchange-traded funds (ETFs).  With a mission to oversee financial institutions, the FSS operates under the larger umbrella of the Financial Services Commission. In a significant move, FSS chief Lee Bok-Hyun announced a detailed business strategy for the coming year during an event in Seoul on Feb. 5, highlighting plans for engagements with major financial markets, notably New York, to further discussions on the South Korean financial landscape, including the pivotal topic of spot Bitcoin ETFs. This announcement follows the U.S. Securities and Exchange Commission’s (SEC) climacteric approval of the first spot BTC ETFs in January, marking a historical shift in the regulatory stance towards cryptocurrency investments. The SEC had previously declined applications for spot BTC ETFs, citing concerns about

According to the Philippines SEC, entities involved in promoting or trading on Binance could face up to 21 years of imprisonment and $90,000 in penalties. Cryptocurrency exchange Binance has been operating in the Philippines without the necessary approval or license , according to the local securities regulator . The Philippines Securities and Exchange Commission (SEC) issued a warning against Binance on Nov. 28, informing the public that the exchange is not authorized to sell or offer securities in the country. The announcement emphasized that an exchange like Binance must apply for registration and provide detailed information about offered securities before selling them to the public. Such detailed information includes the issuance price, the nature of securities and other data. Related: Philippines to sell $179M in tokenized treasury bonds for the first time The Philippines’ Securities Regulation Code (SRC) also requires securities issuers to be registered in the country before b

The regulator y body intends to release its final report, which will be crafted based on the feedback it receives. Furthermore, it plans to present the draft technical standards to the European Commission by June 2024. On October 5, the European Securities and Markets Authority (ESMA), the regulatory authority responsible for overseeing financial markets in the European Union, issued a second consultative document regarding regulations for Crypto-Assets within Markets (MiCA). This comprehensive 307-page document seeks input from stakeholders in five critical areas of MiCA, including sustainability metrics for distributed ledger technologies, disclosures of confidential information, technical prerequisites for white papers, measures to enhance trade transparency, and requirements for maintaining records for crypto-asset service providers (CASPs). Among the sustainability metrics, the authority places emphasis on quantifiable measures related to energy consumption, greenhouse gas emi