crypto law

Putin has signed a landmark crypto law in Russia that allows regulated retail trading within the country but continues to prohibit using crypto for payments of goods and services domestically. The law permits, however, the use of cryptocurrencies for cross-border settlements.

Russia's first comprehensive crypto law is two votes away from passing. The bill licenses exchanges, limits retail investors to $3,800 annually, and allows Russian companies to use crypto for payments to foreign partners, circumventing Western sanctions.

Dunamu, the parent company of Upbit, is undergoing a sanction process nearly eight months after a $30 million hack. The severity of sanctions remains unclear due to a lack of direct provisions in South Korea's current crypto law for hacking or IT failures.

Russia’s Alfa Bank plans to launch a digital depository to offer crypto services. The move aligns with similar initiatives from other major Russian banks and the country's ongoing development of crypto law.

Taiwan has enacted a comprehensive cryptocurrency law, placing virtual asset firms under the oversight of the Financial Supervisory Commission (FSC) for the first time. The legislation includes specific regulations for stablecoins, requiring reserve-and-trust mechanisms to ensure stability and security.

Taiwan has passed a key crypto law that requires cryptocurrency platforms to obtain licenses from the Financial Supervisory Commission before operating, addressing legal uncertainty in the digital asset sector.

South Korean prosecutors charged operators of the CATFI memecoin in the country’s first DEX rug-pull case under crypto law. The case involves a decentralized exchange (DEX) rug pull, a type of scam where developers abandon a project after raising funds.