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Crypto

JPMorgan says stablecoins are not a threat to banks

U.S. regional banks have expressed strong concern that stablecoins could eat into bank deposits on a large scale, but JPMorgan does not agree with the crisis narrative. It said multiple layers of money already exist, including central bank currency and tokenised funds, and that deposit tokens and stablecoins will be complementary tools with different uses. The banking industry continues to seek tighter regulation, including extending interest bans under the Genius Act.

Telecommunications & Media

Korean broadcast media communications body, gender ministry to sign MOU on zero tolerance for digital sex crimes

The Korea Broadcast Media Communications Commission said it met the Ministry of Gender Equality and Family on Jan. 12 and agreed to activate cross-government cooperation to eradicate digital sex crimes, including deepfakes, and protect youths. The two bodies will jointly seek youth protection measures for changes in the AI environment and apply a zero-tolerance principle to deepfake sex crimes. They will also cooperate on constant monitoring to delete and block harmful information. They aim to sign an MOU this month.

Finance

IBK Industrial Bank of Korea donates 400 million won to support vulnerable groups

IBK Industrial Bank of Korea said on Jan. 12 it delivered 400 million won raised through its customer-participation donation campaign, 'Give LOVE', on its card app to Holt Children's Services and Good Neighbors. The donations were allocated based on voting by 500,000 customers who visited the app’s event page in December and selected preferred projects. Holt received 250 million won for support programs, while Good Neighbors received 150 million won for meals for children during school breaks.