Infinite Block Receives Certification for Information Security Management System of Blockchain…

Korbit, one of South Korea’s leading crypto exchanges, has recently conducted an education session on anti-money laundering (AML) for its employees, local tech media outlet ZDNet Korea reported.  Held in the office lounge of Korbit, the session was led by Hwang Seok-jin, an expert in financial crime and anti-money laundering regimes. A professor at the Graduate School of International Information Protection of Dongguk University, he has served as a compliance officer and a consultant at Digital Asset eXchange Alliance (DAXA), a group consisting of five leading cryptocurrency exchanges in South Korea.  Photo by Viacheslav Bublyk on UnsplashEmphasis on the Virtual Asset User Protection Act  Mr. Hwang informed Korbit’s employees about the upcoming Virtual Asset User Protection Act, effective July, highlighting guidelines for investor protection, prohibitions against unfair transactions and the financial regulators’ authority and oversight. The session especially focused on explaining the Virtual Asset User Protection Act, given that the Act would deeply influence many departments of Korbits ranging from the accounting and finance unit handling customer deposits to blockchain-related units responsible for the custody of virtual assets.  Korbit maintains a no-negotiation policy that bars projects from interacting with exchange employees prior to their tokens being listed. This policy enhances the transparency of Korbit’s evaluation process, ensuring that the exchange assesses projects impartially, without third-party influence or external pressures. After listing an asset, Korbit conducts quarterly risk assessments on all crypto assets traded on the platform. Additionally, it plans to adopt a stricter approach to internal controls to enhance customer protection, in line with the upcoming enactment of the Virtual Asset User Protection Act. 

HashKey Launches Wealth Management Service Amid High DemandHong Kong-based HashKey Group, a leading financial technology company in Asia, has launched Hashkey Wealth, a wealth management service in response to significant demand from investors looking for exposure to the digital assets market.©Pexels/Tima MiroshnichenkoPortfolio diversificationWith the increasing adoption of cryptocurrencies and digital assets, many investors are seeking ways to diversify their portfolios and gain exposure to this emerging asset class. HashKey’s wealth management service provides investors with access to a wide range of digital assets, including Bitcoin, Ethereum, and other cryptocurrencies, as well as alternative investments such as non-fungible tokens (NFTs) and decentralized finance (DeFi) projects.The wealth management program is designed to meet the needs of both institutional and individual investors. It offers a variety of investment strategies, ranging from passive to actively managed portfolios, with different risk profiles to suit investors’ preferences. The program also provides a range of services, including custody, trading, and portfolio rebalancing, to ensure that investors can manage their investments with ease.Established track recordHashKey has a strong track record in the digital asset market, having launched its own cryptocurrency exchange in 2018 and a blockchain accelerator program in 2019. The company has also established partnerships with leading players in the industry, such as Huobi, to expand its reach and provide investors with access to a wider range of investment opportunities.In a statement, HashKey Group CEO, Deng Chao, said, “We are excited to launch our wealth management service and provide investors with access to the emerging digital asset market. Our goal is to provide investors with a range of investment options and strategies to meet their needs, while also providing them with the tools and services they need to manage their investments effectively.”Growing interest in digital assetsThe launch of HashKey’s wealth management service comes at a time of increasing interest in digital assets from both institutional and individual investors. With the market for cryptocurrencies and other digital assets expected to continue to grow in the coming years, it is likely that demand for wealth management services in this space will also continue to increase.Additional servicesThe company also gained approval from Hong Kong’s Securities and Futures Commission (SFC) for a Type 9 asset management license which allows it to manage portfolios that are entirely invested in digital assets.Hashkey PRO, its regulated virtual asset exchange, is due to launch in Q2, 2023. In order to facilitate this, the firm has gained SFC approval for both a Type 1 license which covers dealing in securities and a Type 7 license which enables the provision of automated trading services.Overall, the launch of HashKey’s wealth management service and its virtual assets exchange is a positive development for the digital asset market, as it provides investors with a range of investment options and strategies to suit their needs. With the company’s strong track record in the industry and its commitment to providing investors with high-quality services and solutions, it is well-positioned to capitalize on the growing demand for digital asset investments.

Katsunobu Katō, a Liberal Democratic Party politician and Japan's Minister of Finance under Prime Minister Shigeru Ishiba's government since October 2024, has said that cryptocurrency assets can play a role in a diversified investment portfolio. Katō made the remarks while speaking at an event that was held in Tokyo related to the subject of crypto assets on Aug. 25, according to Bloomberg. Katō stated:''Crypto assets run the risk of high volatility, but if an appropriate investment environment is created, they can become targets for diversified investment.''Photo by JJ Ying on UnsplashGrowing crypto user baseKatō acknowledged that there is a growing user base in Japan related to digital assets. With that, he intends to work towards the provision of a healthy trading environment in Japan for stakeholders within the digital assets sector. The finance minister added that he has been trying to balance regulation with a need to leave the digital assets sector with sufficient freedom so as to enable the development of innovation. Crypto tax reformIt emerged over the weekend that the Japanese financial regulator, the Financial Services Agency (FSA), intends to include tax reform measures in respect of the crypto sector in 2026 tax revision proposals that it will bring to the Japanese government. It’s expected that the proposals, scheduled for submission by the end of this month, will call for a separate taxation category for digital assets and the implementation of a flat 20% tax rate. Under Japan’s existing tax regimen, crypto trading gains must be reported under the categorization of “miscellaneous income,” with those gains subject to tax rates of up to 55%. The move would bring taxation on crypto trading gains in line with the tax treatment that’s currently in place for equity trading gains. Equities have been given their own category and are taxed at a flat rate of 20%. Reclassifying cryptocurrenciesAdditionally, the FSA plans to propose legislation next year that would result in the reclassification of cryptocurrencies, removing them from their current treatment as a means of payment under the Payment Services Act. The regulator wants crypto to come under the Financial Instruments and Exchange Act, reclassifying it as a financial product. Katō has outlined his party’s commitment to the consideration of reviewing crypto asset taxation. That item was incorporated into his government’s tax reform plan for 2025, while the Japanese cabinet approved a proposal to amend the Payment Services Act back in March. As part of plans to have digital assets categorized as financial products, the FSA is also understood to be interested in broadening the scope of insider trading restrictions. Kato’s remarks are being interpreted as positive for the crypto sector. According to International Monetary Fund (IMF) data, Japan is the world’s fifth-largest economy, with a gross domestic product (GDP) exceeding $4.1 trillion.Source: World Economic Outlook (April 2025)In further positive news for the sector in Japan, it was reported on Aug. 18 that the FSA is likely to approve the issuance of JPYC, a Japanese yen-backed stablecoin, over the course of the coming months.