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Crypto

Bitcoin clears $80,000 after three months as digital asset alliances gather pace

Bitcoin rose above $80,000 for the first time in three months on a weaker dollar, expectations of clearer U.S. digital asset rules and inflows into spot exchange-traded funds. In South Korea, interest is growing over whether renewed debate on a basic digital asset law could lead to institutional changes such as corporate investment and spot ETFs. Financial firms are also accelerating tie-ups spanning banks, brokerages and asset managers.

Crypto

DAXA flags four unreported overseas crypto exchanges, seeks police investigation

The Digital Asset eXchange Alliance, known as DAXA, said it had identified four overseas digital asset exchanges operating for South Korean users without making the required report under the Act on Reporting and Using Specified Financial Transaction Information. It said it requested a police investigation after confirming signs of targeting domestic users through Korean-language services, won conversion displays and reward programmes. DAXA warned users of weak safeguards and difficult remedies if incidents occur.

Crypto

DAXA moves for joint response ahead of revised foreign exchange transactions law

The Digital Asset Exchange Alliance (DAXA) said it is supporting domestic virtual asset service providers (VASPs) as South Korea prepares to implement a revised Foreign Exchange Transactions Act on Dec. 3. DAXA held a briefing in Seoul on building a VASP-only foreign exchange reporting network. The revised law requires prior registration for cross-border digital-asset transfers and reporting of transfer details to the Bank of Korea’s foreign exchange system.