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Crypto

FSC says approval process for fractional investment OTC exchange was fair, shares operators\' frustration

South Korea’s Financial Services Commission said its preliminary licensing process for a fractional-investment over-the-counter exchange was conducted fairly, while acknowledging the frustration felt by Lucentblock after failing to win approval. During a parliamentary audit, lawmaker Min Byung-deok questioned whether sandbox firms’ results are properly recognised in institutionalisation. The FSC noted the relevant law allows, but does not require, a review panel to be consulted when a firm seeks formal authorisation.

Crypto

Fed releases stablecoin rules as debate flares over digital asset taxation

The digital asset market focus shifts from legislation to rulemaking as U.S. agencies move after the Clarity Act stalls in the Senate. The Federal Reserve unveiled a framework to require payment stablecoin issuers to fully back tokens with permitted reserve assets, ahead of the GENIUS Act taking effect in 2027. Bitcoin struggled as 10-year Treasury yields hit a 19-year high. In South Korea, debate resurfaced over digital asset income tax due in 2027.

Crypto

Koscom partners with Woori Investment Securities on tokenised securities platform

Koscom said on May 13 it has signed a partnership with Woori Investment Securities on digital assets and tokenised securities (STO). The two companies plan to build a cooperation framework to advance the tokenised securities business based on blockchain technology and financial investment capabilities. Koscom said it has expanded its STO-related base through projects including an issuance platform with LG CNS, a Korea Securities Depository testbed, stablecoin-based atomic settlement proof-of-concept work and participation in the Korea Exchange-backed KDX consortium.