Internet-only Kbank offers virtual accounts for fractional art investors

The Ethereum Foundation is set to make a significant impact on the Southeast Asian Ethereum community as it announces Bangkok as the location for Devcon 7.Photo by Viktor Forgacs on UnsplashFocusing on Southeast AsiaThe Ethereum developer conference will be held in the Thai capital from Nov. 12 to 15. The decision signifies a broadened vision for the event, shifting from a city-focused approach to embracing the entire Southeast Asia region as the backdrop for this community gathering. To underscore the Foundation’s intent, it has renamed the event from Devcon 7 to "Devcon Southeast Asia." Expressing enthusiasm about the potential and rapid growth of the Ethereum community in Southeast Asia, the Ethereum Foundation sees the scheduling of Devcon 7 for 2024 as an opportunity to deeply engage with local communities, providing meaningful support and empowerment. This shift aims to make Devcon 7 a more inclusive and regionally focused event, aptly named "Devcon Southeast Asia" to highlight its broader reach and impact. There has already been a positive reaction from crypto community members in the region in response to the choice of Bangkok for the conference. Navaporn Nalita, the founder of Crypto City Connext in Thailand wrote that “Bangkok's collaborative ecosystem, welcomes Devcon 2024 with open arms (and open blockchains)! Thailand's vibrant dev scene is primed to ignite alongside the world's brightest minds.” In short order, community builders have been looking to make the most out of the opportunity. Aligning with crypto growth potentialAccording to the blog post published by the Ethereum Foundation outlining the announcement, the choice of Bangkok as the host city aligns with the region's crypto adoption growth. Countries like Vietnam, the Philippines, Indonesia and Thailand have shown remarkable positions in the Global Crypto Adoption Index, underscoring the pivotal role of Southeast Asia in the global Ethereum landscape. To support Ethereum events, grassroots communities and educational initiatives in Southeast Asia, the Ethereum Foundation (EF) initiated the Road to Devcon (RTD) Grants round on June 29. This grant round is specifically aimed at individuals in Southeast Asia actively building communities, developing educational activities, and contributing to the growth of the Ethereum ecosystem. Encouraging smaller meet-ups over large events, the EF set the maximum grant at $1,000. The initiative aims to empower the Southeast Asian Ethereum community by providing support along the Road to Devcon. In a recent Chainalysis research report, Vietnam has emerged as the leader in cryptocurrency adoption within Southeast Asia, claiming the top spot in the region and ranking third globally in the Global Crypto Adoption Index for 2023. This index considers transaction volumes, protocols, web traffic patterns and factors like population size and purchasing power. The competition among Southeast Asian countries to establish themselves as crypto hubs is evident. Each nation adopts different regulatory approaches, with Singapore and Thailand implementing stricter measures. There has been a steady stream of Ethereum developer-centric conferences in recent years. 2022 featured EthDenver, Avax Barcelona, Devconnect Amsterdam, Devcon Bogota and EthSF (San Francisco). EthDenver, EthCC Paris and Devconnect Istanbul followed in 2023. As Devcon Southeast Asia approaches, the Ethereum Foundation anticipates fostering deeper connections and collaboration in this vibrant and evolving ecosystem. 

The global crypto trading platform Crypto.com has signed a memorandum of understanding with AI fashion-tech firm Altava Group, Korean media outlet Digital Daily reported. According to the press, the signing ceremony took place on Wednesday at the office of Crypto.com Korea, attended by Andrew Junhoe Ku, CEO of Altava Group and Eric Anziani, COO of Crypto.com. Photo by freestocks on UnsplashAs the initial step of the partnership, they aim to integrate Crypto.com’s NFT marketplace and payment solutions with Altava Group’s digital fashion services. Altava Group provides innovative virtual fashion experiences to major fashion brands worldwide, including LVMH, Balmain and Bulgari. By leveraging Altava Group’s network, Crypto.com plans to lay the groundwork for innovation in the digital fashion industry, with various joint promotional events with Altava Group in store.  Fashion-tech meets crypto payment“We are excited to partner with Altava Group, a leader in the digital fashion sector. We hope to leverage our technology and expertise for the growth and advancement of the global digital fashion market – an area in which we see great potential,” said Anziani. Ku also expressed his excitement about the partnership and the integration of crypto payment solutions, saying “We are extremely pleased to explore Crypto.com Pay through the partnership with Crypto.com, a global virtual asset leader with over 80 million users. We expect the addition of cryptocurrency as a payment option to help lower entry barriers for fashion brands and creators, and further strengthen the foundation for the digital fashion ecosystem.”  

South Korea’s ruling Democratic Party has set up a new task force to accelerate the creation of a clear regulatory framework for stablecoins, aiming to unify competing legislative proposals ahead of government guidelines expected in October. According to Etoday, the nine-member group, chaired by Representative Lee Jung-moon of the National Policy Committee, is composed of lawmakers from three key parliamentary committees. Its primary objective is to consolidate the party's position on digital asset policy and coordinate with the Financial Services Commission (FSC) to establish a definitive rulebook for the burgeoning sector. Lee stated that the task force would work to harmonize multiple stablecoin bills already circulating within the party, noting that there was mounting pressure from both regulators and the private sector. He explained that government agencies had urged swift legislative action, while financial institutions and exchanges preparing to launch won-pegged stablecoins were waiting for regulatory certainty.Photo by SC Jang on UnsplashRegulatory debate over capital standardsA central point of contention for the task force will be establishing appropriate capital requirements for stablecoin issuers. Current proposals vary in scope, with suggested thresholds ranging from 500 million won (approximately $358,000), a figure intended to encourage fintech innovation, to as high as 5 billion won (about $3.58 million) to prioritize investor protection. The committee is tasked with striking a balance between fostering market growth and ensuring financial stability. Seoul's initiative reflects a broader global movement toward formal oversight of fiat-backed digital currencies. The U.S. passed its GENIUS Act for stablecoins in July, while the EU has implemented its Markets in Crypto-Assets (MiCA) regulation. Similarly, Japan amended its Payment Services Act in 2023 to restrict stablecoin issuance to licensed banks and registered financial firms. Former White House crypto advisor’s inputThe push for clear rules has drawn keen interest from industry leaders. Speaking at Korea Blockchain Week 2025 in Seoul, Bo Hines, chief executive of Tether USAT, stressed the regulatory clarity provided by the GENIUS Act in the U.S. According to ZDnet Korea, he noted that his company's new dollar-backed token, USAT, is designed for full compliance with U.S. law, featuring one-to-one reserves and audits by top-tier accounting firms to attract institutional investors. Hines, a former digital assets adviser at the White House, clarified that USAT is intended to serve the regulated U.S. market, complementing Tether’s flagship product, USDT, which has a global user base exceeding 500 million. He also discussed Tether’s view of South Korea as a key market, pointing to the significant USDT trading volumes there. Hines encouraged the country to adopt comparable stablecoin standards and expressed optimism that it would move toward a more open and efficient global financial network. With the FSC’s guidance approaching, the Democratic Party’s task force is working to reconcile differing legislative proposals. The resulting framework will shape the pace at which stablecoins move from pilot projects to an established part of South Korea’s financial system.