South Korea’s government is set to fast-track pro-business crypto reforms, including stablecoin regulations. The South Korean newspaper Metro Seoul reported that the Presidential Committee on State Affairs announced its plans at a public briefing on August 13. South Korea Crypto Reform Taking Shape The committee spoke of a five-year plan for state administration, naming 123…
Crypto advocacy initiative the DeFi Education Fund and Andreessen Horowitz (a16z) are encouraging the United States Securities and Exchange Commission (SEC) to develop a “safe harbor” for apps pertaining to the blockchain sector, according to an August 13 blog post published on the a16z website. SEC Asked to Create Blockchain Safe Harbor Both the DeFi…
Key Takeaways: U.S. banking associations want Congress to close an interest-payment loophole in the GENIUS Act for stablecoin affiliates. The debate could expand into a broader discussion on the role of U.S. stablecoins in international payment systems. Future political shifts may influence whether current restrictions are tightened, relaxed, or adapted to global regulatory norms. Major…
The U.S. Department of Justice (DOJ) took down multiple servers and domains belonging to the BlackSuit ransomware group, U.S. officials announced on Monday. Over $1 Million Seized In BlackSuit Bust According to an August 11 press release from the DOJ, U.S. officials from four different agencies partnered with international law enforcement from the United Kingdom,…
An official White House fact sheet notes that more than 90 million Americans participate in employer-sponsored defined-contribution plans. Data from the Investment Company Institute further indicates that total U.S. retirement assets were valued at $43.4 trillion as of March 31, 2025. These statistics demonstrate that the majority of Americans plan to have enough financial assets…
Two Estonian nationals avoided additional prison time for orchestrating one of crypto’s largest Ponzi schemes (HashFlare) after receiving sentences matching the 16 months they already served in custody. Sergei Potapenko and Ivan Turõgin, both 40, were sentenced by U.S. District Judge Robert S. Lasnik for their roles in the $577 million HashFlare fraud that victimized…
Renowned blockchain investigator ZachXBT has exposed an elaborate scheme involving five North Korean IT workers who created more than 30 fake identities. These operatives used government-issued ID cards and purchased professional accounts on Upwork and LinkedIn to get jobs with cryptocurrency projects as developers. Anonymous Source Compromises North Korean IT Workers’ Devices to Reveal Operation…
The affluent Seoul district of Gangnam is ramping up its crypto confiscation initiative for tax evaders, seizing 340 million won ($244,796) since the end of last year. The district, which is home to many of East Asia’s richest people, has joined others in cracking down on residents who fail to pay their local taxes. But…
Terraform Labs co-founder Do Kwon has pleaded guilty to two felony counts of wire fraud and conspiracy to defraud, ending a prolonged legal standoff with U.S. prosecutors. The plea deal, entered Tuesday in the Southern District of New York, marks a sharp reversal from Kwon’s earlier not-guilty stance. Under the reported agreement, prosecutors will recommend…
The United States Securities and Exchange Commission (SEC) is planning to focus on developing “clear” crypto regulations after dropping its case against digital payments company Ripple, per a new X post from Commissioner Hester Peirce. Clear Crypto Framework Underway, Hester Peirce Says According to Peirce’s Monday X post, the SEC’s decision to dismiss its legal…