Nasdaq Proposes Fast-Track Rule to Accelerate Index Inclusion for Major New Listings 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
TrumpRx Website Launches to Offer Discounted Prescription Drugs for Cash-Paying Americans 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Thailand Inflation Remains Negative for 10th Straight Month in January 
Gold and Silver Prices Slide as Dollar Strength and Easing Tensions Weigh on Metals 
South Korea’s Financial Services Commission chairman nominee, Koh Seung Beom, recently said that he does not see cryptocurrencies as a financial asset, but despite this, on Thursday, the FSC stated that it will create an independent agency to bolster the supervision of virtual assets and operators in the country.
The commission added that the bureau would also be tasked to spot and identify possible money laundering cases. The announcement about the plans to form a cryptocurrency policy review agency came just a day after Koh Seung Beom shared his belief that “cryptocurrencies are not real.”
According to The Korea Times, the Korea Financial Intelligence Unit (KFIU), a unit of the FSC that supervises anti-money laundering, will be given the power to manage the newly-formed office. The group has been dubbed as the "crypto asset monitoring bureau," and it will now begin monitoring any suspicious financial activity related to cryptocurrency assets.
The monitoring is needed for the officials to decide if they can extend the license of cryptocurrency operators or not. In addition, the establishment of the group was made to explore means on how the regulators can improve investor protection rules.
"The FSC's decision for the creation of an independent bureau inside KFIU with increased personnel is aimed at checking and monitoring cryptocurrency-related financial activity and preventing potential money laundering," an official from FSC state.
It was revealed that the FSC has been teaming up with other financial institutions to strengthen crypto regulations in S. Korea. The commission also provided a six-month grace period for the country's cryptocurrency exchange operators to register using real-name trading accounts at the KFIU. If they fail to do this, they will not be allowed to operate in the country.
Pulse News reported that four crypto exchanges in Korea are on the verge of closure as they have yet to apply for state certification for the protection of information assets. Meanwhile, the FSC already disclosed a list of crypto exchanges that have and have not filed for the required Information Security Management System (ISM) certification. If they still haven’t registered by the Sept. 24 deadline, they will be forced to shut down immediately.
