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Crypto

Government to tighten tracking of cross-border digital asset transfers

The government will centrally manage records of digital assets moved to overseas exchanges or personal wallets through the Bank of Korea’s foreign-exchange information network. The Finance and Economy Ministry said it will issue for public comment an enforcement decree revising the Foreign Exchange Transactions Act. The draft details the scope, registration requirements and reporting duties for virtual asset transfer services and aims to improve monitoring of cross-border flows and detect evasion and illegal transactions faster.

Telecommunications & Media

Up to 6 percent fines on illegal spam sales take effect Oct 1

A system to impose fines of up to 6 percent of related sales on illegal spam senders and businesses that neglect prevention obligations will take effect next month. The Broadcasting Media and Communications Commission approved a revised enforcement decree and a related notice setting detailed measures for information and communications service providers. Fines will range from 1 to 6 percent, with benchmark amounts of 100 million to 2 billion won when sales are hard to calculate.

Industry

Unitree CEO says humanoid robots\' inflection point not far off, within 10 years at latest

The humanoid robot industry could face a “ChatGPT moment” in 2 to 3 years under ideal conditions, or in 5 to 10 years if progress is slow, Unitree CEO Wang Xingxing (Wang Xingxing) said at the World Robot Conference in Beijing. He set a goal of robots completing about 80 percent of tasks in new homes or workplaces using voice and text commands. He also pointed to technical limits and bottlenecks, while views on timing vary across the industry.