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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.

China’s central bank and seven other ministries have released a sweeping new policy tightening controls on cryptocurrencies, stablecoins, and the tokenization of real-world assets (RWA), citing mounting speculative activity and risks to financial order, public asset safety, national security, and social stability. The move builds on warnings issued late last year. At a Nov. 28 meeting on crypto regulation, the People’s Bank of China (PBOC) reaffirmed that all commercial activities involving digital assets remain illegal, citing the proliferation of speculative trading that was complicating financial risk management. Officials said enforcement against crypto-related illegal financial activity would be stepped up to safeguard economic stability, and flagged stablecoins as a particular concern due to deficiencies in customer identification and anti-money laundering (AML) controls, as well as risks of fraud and unregulated cross-border capital flows.Photo by William Olivieri on UnsplashCrypto not legal tender in ChinaIn the latest notice, regulators again stress that digital assets such as Bitcoin, Ethereum, and USDT have no legal tender status in China and cannot circulate as money. All crypto-related activities—including trading, exchange services, token issuance, derivatives, pricing, information brokerage, and related financial products—are classified as illegal financial activities and are strictly prohibited. Overseas entities and individuals are also barred from providing crypto-related services to users in China. The document further tightens oversight of stablecoins, warning that fiat-pegged tokens effectively perform some functions of sovereign currency. It explicitly bans the issuance of offshore yuan-linked stablecoins without regulatory approval. RWA tokenization deemed illegalChinese regulators laid out a comprehensive framework addressing RWA tokenization, defining it as the use of blockchain or similar technologies to tokenize ownership or income rights of assets. Authorities say that domestically conducted RWA tokenization, or the provision of related services, may constitute illegal securities issuance, illegal fundraising, or unauthorized financial business, and is prohibited unless explicitly approved and conducted via designated financial infrastructure. Offshore RWA tokenization targeting Chinese entities is also banned. The policy establishes a coordinated enforcement mechanism led by the central bank and securities regulator, involving development, industry, public security, cybersecurity, judicial, and foreign-exchange authorities, while placing primary enforcement responsibility on local governments. Financial institutions, payment firms, intermediaries, technology providers, and internet platforms are ordered not to provide accounts, clearing, custody, marketing, IT support, or online access for crypto or unauthorized RWA tokenization activities. Companies are also prohibited from using terms such as “cryptocurrency,” “stablecoin,” or “RWA tokenization” in business registration or advertising. China will continue its strict campaign against crypto mining, requiring all remaining mining projects to be shut down and banning the domestic manufacture and sale of mining equipment. The document also tightens supervision of overseas activities by Chinese entities, requiring regulatory approval for offshore token issuance or RWA tokenization involving onshore assets or rights, and imposing enhanced compliance, risk management, and AML requirements on overseas subsidiaries of Chinese financial institutions. The new rules take effect immediately and replace a notice issued in 2021, when China introduced a broad ban on crypto trading and mining, broadening the restrictions to explicitly cover RWA tokenization. 

Com2uS Platform, a subsidiary of South Korean game publisher Com2uS Holdings, yesterday revealed its plan for a non-fungible token (NFT) airdrop. This event is part of a celebration marking the one-year anniversary of its rebranded NFT marketplace, known as X-PLANET.Popular intellectual propertiesThe NFT marketplace underwent a rebranding in March of last year, aiming to improve its integration with Com2uS' XPLA blockchain mainnet. Named X-PLANET, the platform is envisioned as a new planet where users can "explore" and "play." By November 2023, it had become the top revenue-generating local NFT marketplace, thanks in part to popular intellectual properties like the B.O.P Universe and Choushinsei Flashman. The B.O.P Universe draws inspiration from Bung O Pang Tycoon, a mobile game centered around baking pastries, while Choushinsei Flashman is a 1980s Japanese TV series known for its live-action superheroes.NFT airdrop eventTo mark the first anniversary of its rebranding, X-PLANET is hosting an NFT airdrop event on its official website. The event kicked off on March 21 and will have another round on April 4, at 6 p.m. KST, when 365 "Lucky Star" NFTs will be made available on a first-come, first-served basis. Owners of NFTs bearing lucky numbers will have the chance to earn double points during a B.O.P Universe event, which continues until April 14.  Additional benefits are in store for those purchasing NFTs for the first time and those visiting X-PLANET’s Discord channel. Moreover, participants who spread the word about the anniversary event and the B.O.P Universe contest on social media will be entered into a draw for a chance to win a coffee coupon.Photo by Andrey Metelev on UnsplashNFT marketplace and blockchain ecosystemLee Luda, the Head of the Web3 Platform Business Division at Com2uS Platform, highlighted that the recent event was designed to show gratitude to X-PLANET users who have shown their support since the platform's rebranding. Lee further stated that as the NFT marketplace representing the XPLA ecosystem, X-PLANET is committed to evolving into a user-friendly platform. Their goal is to create an environment that not only adds value but also provides entertainment, making it a welcoming space where anyone can participate and enjoy. Recognized for its straightforward user interface and efficient trading system, X-PLANET has been introducing a collection of valuable NFT works across various domains, including art, games and K-pop. The NFT marketplace is actively pursuing collaborations with talented artists and prominent organizations to bring meaningful NFT content to its users.