Crypto Exchange Korbit Raises Daily KRW Deposit Limits From 300K to 5M

Vietnam has moved to take a positive approach to crypto assets by passing legislation to legalize them. Last week, the Southeast Asian nation’s National Assembly passed the Digital Technology Industry Law, which takes effect on Jan. 1, 2026, according to a report published in the official online newspaper of the Vietnamese government. Photo by Daniel Bernard on UnsplashCategorizing digital assetsThe law sets out two categories of digital assets, virtual assets and crypto assets. The legislation frames virtual assets as digital assets used for exchange or investments. Meanwhile, crypto assets are to be regarded as digital assets utilized to validate transactions and confirm ownership while relying on the use of encryption technology. Neither category includes securities or digital versions of fiat currencies such as central bank digital currencies (CBDCs) or other financial instruments. The legislation gives the Vietnamese government the authority to define and apply specific regulatory conditions when it comes to items such as anti-money laundering (AML) measures and the inclusion of international cybersecurity standards. It is hoped that the law will pave the way for the development of home-grown technological enterprises within Vietnam, while also promoting a nationwide digital transformation process. Regulatory clarityThe legislation is significant as it clearly sets out the legal status of digital assets in Vietnam after years of uncertainty and regulatory ambiguity. Singapore-based blockchain-focused Business Strategist, Anndy Lian, said that such legal clarity could result in Vietnam becoming a regional hub for the crypto sector.  Anh Tran, who belongs to Superteam Vietnam, a community for Solana builders in Vietnam, said that the development was huge for founders, developers and investors in the crypto space in Vietnam. He stated: “For a country who has always been at the forefront of crypto adoption, [Vietnam] is now a 'green-lighted zone' in principle, but we're still waiting at the red light for operational rules.” He refers to the fact that Vietnamese regulators still have until Jan. 1, 2026, to flesh out the details in terms of defining who can issue, trade, custody or manage crypto, and how AML, cybersecurity and taxation are handled. Vietnamese officials are likely to give strong consideration to AML measures relative to crypto given that the Southeast Asian nation has been on the grey list of the Financial Action Task Force since 2023. Countries who appear on the grey list are under considerably more scrutiny with regard to AML matters. While another community member claimed that anywhere crypto regulation has been implemented, actual usage has declined, Tran maintained that regulation is inevitable and that “crypto doesn’t need to be lawless to be free.” Last October, Vietnam set out its blockchain strategy, aspiring to the goal of achieving regional leadership in the sector by 2030. In March, the country’s Prime Minister, Pham Minh Chinh, requested that a legal framework for cryptocurrencies be established.  According to Chainalysis’ 2024 Global Crypto Adoption Index, Vietnam ranks fifth in the world.

Korea’s Intragovernment Group Launched to Thwart Crypto-Related CrimesThe South Korean government has taken a significant step today in combating cryptocurrency crimes with the launch of a dedicated intragovernmental division. The newly established joint crypto-crime investigation division operates under the Seoul Southern District Prosecutors’ Office and comprises 30 skilled investigators from seven different government agencies.Photo by Daniel Bernard on UnsplashMulti-agency collaborationThese agencies are the Public Prosecutors’ Office, the Financial Supervisory Service (FSS), the Korea Financial Intelligence Unit (FIU) of the Financial Services Commission (FSC), the National Tax Service (NTS), the Korea Customs Service (KCS), Korea Deposit Insurance Corporation (KDIC), and Korea Exchange (KRX).The growth of the domestic crypto market in South Korea has been remarkable since the advent of cryptocurrency exchanges in 2014, attracting approximately 6.27 million individuals and reaching a valuation of 19 trillion KRW ($14.9 billion). Daily average trading volumes have surged to three trillion KRW, involving participants from various age groups, with individuals in their 30s and 40s constituting the largest share.Regulatory absenceHowever, the absence of adequate regulations has exposed customers to unfair practices in virtual asset trading. Although the recent passage of the Virtual Asset User Protection Bill at the National Assembly is encouraging, implementing comprehensive policies to safeguard crypto investors will take a significant amount of time.The risks associated with virtual asset investments are highlighted by the frequent delisting of cryptocurrencies from the nation’s top five exchanges. In the past two years, 1,053 cryptos have been delisted, and an additional 1,010 have been flagged as risky. The prevalence of unstable cryptocurrencies has resulted in high price volatility, incurring losses for investors. This volatile environment has also given rise to various crypto-related crimes, including unlawful listings, market manipulation, illegal foreign exchange trading, and pyramid schemes.Two teamsTo address these challenges, the joint crypto-crime investigation division is structured with two teams. The research and analysis team will study virtual asset issuers and distributors, identifying suspicious transactions. Virtual assets found to be fraudulent will be reported to the investigation team, which will then conduct thorough investigations and pursue legal action against problematic projects, while also recommending regulatory enhancements. Profits obtained through illegal means will be confiscated by the Seoul Southern District Prosecutors’ Office.The division’s main focus lies on virtual assets that have been rapidly delisted, those marked as risky, and those exhibiting significant price volatility. Committed to upholding fairness and transparency in the crypto industry, the joint crypto-crime investigation division will strive to protect market participants and make valuable contributions to the Korean economy.

Komainu Secures FCA Approval in Boost For Crypto Custody in the UKKomainu, a digital asset storage firm backed by Tokyo-based global financial services group Nomura, has received approval from the UK’s Financial Conduct Authority (FCA) to operate as a crypto custodian wallet provider.Photo by Robert Tudor on UnsplashPaving the way for broader service offeringThe Jersey-headquartered Nomura portfolio company outlined details of its regulatory success in a blog post published on Friday. This regulatory milestone marks a pivotal moment for Komainu’s expansion within the UK market, allowing the firm to amplify its crypto service offering in the UK.The approval paves the way for the firm to offer collateral management services through its platform, Komainu Connect. Sebastian Widmann, Head of Strategy at Komainu, expressed the company’s intention to furnish institutional custody services, a fundamental aspect of the swiftly advancing cryptocurrency market. He also underscored Komainu Connect’s role as a premier collateral management solution within the UK.Komainu’s CEO, Nicolas Bertrand, spoke to the United Kingdom’s pivotal role in the global financial technology sector. He accentuated the UK’s position as a critical hub for fintech, bridging the realms of traditional finance and decentralized finance. The FCA’s endorsement underscores Komainu’s efforts in attempting to deliver secure and compliant cryptocurrency custody services.“This is a key regulatory milestone as the UK remains one of the most important hubs for financial technology and innovation that will spur the convergence of traditional and decentralized finance,” stated Bertrand.This recent approval is not an isolated achievement for Komainu. The firm has been building up recognition for its adherence to regulatory compliance. In August, it secured a full operating license from Dubai’s Virtual Asset Regulatory Authority, reinforcing its dedication to adhering to global regulatory standards.Additionally, being headquartered in Jersey, Komainu falls under the jurisdiction of the Jersey Financial Services Commission, ensuring that the firm also adheres to those local financial regulations.The company previously unveiled an agreement with local authorities, focusing on secure digital asset storage during investigations. This partnership is demonstrative of efforts made by the firm in fostering transparency and security within the cryptocurrency ecosystem, aligning with the broader regulatory objectives of the UK government.Further ambitionsHowever, Komainu’s presence is expected to reach beyond the shores of the UK and Dubai. Coinshares, one of Komainu’s parent companies, recently introduced its hedge fund division, Coinshares Hedge Fund Solutions, signaling its intent to venture into the US market. This strategic maneuver will provide eligible American investors with access to Coinshares’ array of private investment products, further cementing its global presence in the cryptocurrency sector.In June the firm partnered with Seychelles-based global crypto platform OKX. As part of that deal, the digital assets custodian will store and custody digital assets on behalf of OKX's institutional clients.With a positive track record thus far where regulatory compliance is concerned, Komainu is positioning itself for further growth and innovation relative to a fast-developing crypto sector.