South Korea’s Financial Services Commission is reviewing Hana Bank’s $668 million acquisition of a stake in Dunamu. The examination centers on regulations that limit banks’ exposure to cryptocurrency exchanges.
South Korea’s Financial Services Commission is examining the transaction involving Hana Bank and Dunamu. The review addresses compliance with rules that restrict how much banks can invest in crypto-related businesses.
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The Bank of Korea will launch the second phase of its Central Bank Digital Currency pilot in September. The expansion will involve nine major banks and real-transaction testing using deposit tokens.
A Seoul court has overturned a six-month partial business suspension on Bithumb, one of South Korea's largest cryptocurrency exchanges. The ruling reverses sanctions imposed in March by the Financial Intelligence Unit over alleged anti-money laundering violations. It remains unclear whether a 36.8 billion won ($24.6 million) fine is also on hold.
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Japanese financial conglomerate SBI Holdings has submitted a letter of intent to acquire shares in cryptocurrency exchange Bitbank, aiming to make it a consolidated subsidiary. The move supports SBI's expansion in digital assets amid Japan's planned regulatory changes for cryptocurrencies. The deal is subject to due diligence, negotiations, and approvals.
Open Standard's OpenUSD stablecoin project is under examination following reports that several named partners have not formally committed to the alliance. A July 3 report highlighted confusion over the involvement of Korean firms listed on the project's site. The issue centers on distinguishing formal participants from those merely in discussions.
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Binance’s application for a key European Union crypto license is set to be rejected by Greek regulators, according to a Reuters report. The world’s largest crypto exchange disputes the claim and maintains it meets requirements.