China Performs Well as Global Crypto Industry Employment Surpasses 190,000

Xangle Joins Coreum Mainnet as ValidatorCrossAngle, the operator of the virtual asset data intelligence platform Xangle, has joined Coreum’s third-generation Layer-1 blockchain mainnet as a validator.Image by Pete Linforth on PixabayValidators in proof-of-stake (PoS) blockchain systems operate nodes and contribute to the network’s maintenance and security by verifying newly created blocks. By working with Coreum’s existing validators, Xangle aims to bolster the security and well-being of the blockchain ecosystem while simultaneously building its expertise as a participant in the ecosystem. The company joined Korean gaming company Com2uS’ blockchain mainnet XPLA as a validator last month as well.“This partnership will expand the areas where Xangle can contribute to the security and trustworthiness of virtual assets,” said Lim Hyun-min, CrossAngle’s Chief Business Development Officer (CBDO). “Through our collaboration with Coreum, we will take the lead in the mass adoption of Web3 as part of the global blockchain ecosystem.”Coreum’s path to growthThe Coreum mainnet was launched in March and has since garnered attention for setting new standards such as compliance with the international standard for electronic data interchange between financial institutions (ISO 20022) and smart token functionality, which allows tokens to execute transactions.The platform also recently secured a partnership with Ledger, a leading company in crypto hardware wallets. A hardware wallet is a physical, offline device that stores private keys to cryptocurrency. This collaboration with Ledger is expected to significantly enhance the diversity and security of the Coreum ecosystem.Favio Verlarde, Head of Growth and Partnerships at Coreum, described the partnership with CrossAngle as an integral part of Coreum’s global expansion strategy, emphasizing the importance of data infrastructure and resources. He expressed hopes that Coreum’s abilities and innovations will facilitate the seamless transition, adoption, and popularization of blockchain.New solutions underwayMeanwhile, Xangle is gearing up to launch enterprise-focused blockchain solutions that cater to Web3 and virtual asset businesses. This includes Explorer, which allows users to search and analyze on-chain data within blockchain networks, and Xangle Beacon, a service that offers enterprise resource planning (ERP) solutions for Web3 businesses.

Senior Gyeonggi Officials Required to Declare Virtual Asset Holdings by Sept 1The Gyeonggi province of South Korea is requiring officials of rank 4 or higher to report their cryptocurrency holdings from today until September 1. This move is in line with the amended Public Service Ethics Act, set to take effect on December 14, which will require senior government officials to declare their virtual asset holdings.Photo by Mathew Schwartz on UnsplashRevised code of conductThe nation’s most populated provincial government announced today the finalization and implementation of revisions to the employee code of conduct. These changes intend to prevent government employees from exploiting their official positions for personal financial gains. Before finalizing these changes, the province had sought public feedback on the amendment until July 25.In May, Gyeonggi Governor Kim Dong-yeon convened a meeting to call for devising a plan that encourages public officials under financial disclosure requirements to declare their virtual assets. He emphasized the importance of proactive measures in this regard.On August 14, the provincial government presented guidelines on virtual asset reporting, detailing the reporting process, content requirements, and penalties for false submissions.A move towards transparencyLee Seon-beom, the Head of Gyeonggi’s Investigation Office, explained that this initiative is designed to alleviate the public’s concerns over virtual assets. It also aims to promote transparency among officials, ensuring they avoid unlawful accumulation of wealth.

Global crypto exchange platform OKX has announced that it has relaunched its exchange services and Web3 wallet within the U.S. market. In a press release published on April 15, the company said that customers can now access the platform in the United States, “with existing customers migrating seamlessly and new customers gradually gaining access ahead of a full nationwide launch.”Photo by Danny Burke on UnsplashOnboarding OKCoin usersIn terms of existing customers, the company is referring to users of OKCoin, the former name of OKX, who will now be onboarded onto the newly launched OKX exchange service. The Seychelles-based company, which was originally founded and operated in China, has established its U.S. headquarters in San Jose, California. The company has appointed Roshan Robert, formerly an executive at Morgan Stanley and Barclays, as its U.S. CEO. Commenting on the U.S. market relaunch, Robert stated: "With the US advancing crypto regulatory clarity, we see tremendous opportunities to build trust and deliver secure, compliant digital asset solutions.” Inflection pointIn a blog post published to the firm’s website, Robert said that he had been watching the development of the industry since its earliest days, but that he thinks that the crypto sector has now reached “a critical inflection point.” He added that more so than ever before, the crypto sector is currently interacting more directly with traditional finance and capital markets.  Referring directly to what platform users can expect from the relaunched service in the U.S., the OKX U.S. CEO said that the firm plans on rolling out new features throughout the year as part of its vision to build a crypto super app. Rollout of the platform’s services in the U.S. will be carried out on a phased basis. The firm also intends to offer integrations with local banks, together with full support for major assets such as Bitcoin, Ethereum, USDC and USDT.The OKX Wallet will be made available to U.S. users, supporting a range of digital assets across 130 blockchain networks. The wallet will enable users to access a number of Web3 dApps, facilitate the movement of digital assets between blockchain networks and include a number of tools to assist platform users with their trading activities. Entering a ‘new era’It’s likely that a change towards a more positive outlook where the crypto sector is concerned at government and regulatory levels in the U.S., together with a settlement reached with the U.S. Department of Justice (DOJ), has influenced OKX in relaunching its service stateside.  The DOJ had opened an investigation into the company on the basis of allegations that it was operating a money-transmitting business on an unlicensed basis. In its settlement, the company paid fines and penalties totaling $500 million. With that settlement behind it and a more enlightened climate for digital assets having emerged in the U.S., OKX described the service relaunch as “a new era for OKX in the U.S.”Yves La Rose, CEO of Web3 banking project, the Vaulta Foundation, said that OKX’s U.S. expansion is a signal, indicating that “a new era of compliant, wallet-led Web3 innovation is underway.” Diana Pires, an executive at crypto payments firm Beam, expressed a similar take, stating on X that OKX was relaunching “because the world’s largest economy is finally ready for crypto,” adding that “the floodgates are now open for international crypto companies.”