Features Crypto News by Thebittimes.Com

1. South Korea’s Crypto News This Week 1.1 South Korea’s Financial Services Commission Plans to Establish Virtual Asset Committee This Month and Hold First Meeting link The South Korean Virtual Assets Committee is set to be established this month, with its first meeting expected to take place shortly thereafter. This committee, formed by the Financial Services Commission (FSC) under the Virtual Asset User Protection Act that came into effect in July, will serve as a policy advisory body. Once established, it will address key issues such as the approval of virtual asset spot ETFs and corporate investments in virtual assets. 1.2 South Korea’s Financial Supervisory Service Investigates Bithumb for Abnormal Cryptocurrency Transactions link Lee Bok-hyun, head of South Korea’s Financial Supervisory Service, announced during a parliamentary committee meeting that regulators are investigating suspicious cryptocurrency trading activity on the Bithumb exchange. The investigation is focusing on t...

Gemini’s official Twitter handle announced today that the exchange would soon begin the process of acquiring a crypto license in the UAE . The team labeled the region to be “a forward-thinking,” “global financial hub” that is establishing itself as a “fast-emerging hub” for crypto . 1/ We’re coming to the UAE! We’re thrilled to announce that Gemini will soon begin the process of acquiring a crypto license to serve customers based in the United Arab Emirates (UAE). pic.twitter.com/Ycdj9RxMbE — Gemini (@Gemini) June 1, 2023 Also Read: Ripple Partner Ties Up With UAE’s Al Ansari: IPO Soon? Alongside the UAE , regions like Hong Kong also intend to become a base for crypto companies to establish their foundations. Right from softening regulations to opening up trading, a host of measures are being taken by these crypto -friendly countries. According to the official announcement, Gemini representatives met with stakeholders throughout the UAE to learn more about local regul...