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Finance

South Korean financial regulators launch forced probe into \'information cartel\' over M&A insider trading

South Korea\'s financial authorities have begun a forced investigation into a so-called information cartel accused of using non-public information tied to tender offers and mergers and acquisitions to secure illicit profits exceeding 20 billion won. A joint task force said it conducted raids at about 20 locations, including suspects\' homes and offices. Regulators also ordered payment suspensions on some brokerage accounts suspected of holding the gains and said they would continue probing information sources and trading links.

Crypto

Hong Kong shifts financial markets to 24-hour on-chain settlement, speeds up tokenised payments

Hong Kong is strengthening tokenised financial infrastructure and digital asset regulation at the same time. It plans to build a 24-hour on-chain payment environment using tokenised central bank money, while also revising licensing for crypto operators and regulatory frameworks for tokenised investment products. The Hong Kong Monetary Authority aims to upgrade its EnsembleTX pilot by year-end, and regulators also plan tougher oversight of custody and anti-money laundering, including market surveillance using systems and AI.

Crypto

Apple and Google seek crypto talent alongside stablecoin interest

Apple and Google have posted jobs seeking candidates with experience in stablecoins, tokenised deposits and blockchain infrastructure. Apple is recruiting in New York for an Apple Pay product strategy role and lists understanding of stablecoins and blockchain technology as a preferred qualification, without stating plans to integrate them. Google is hiring in Hong Kong for a Google Cloud Web3 architect role advising regional clients. Visa said stablecoin settlement volume exceeded $20 billion annualised in September.