Korean crypto exchanges list Trump-linked cryptocurrencies

Mohammed AlKaff AlHashmi, co-founder of the HAQQ Network, has expressed the view that Indonesia has considerable potential to establish itself as Asia’s largest crypto hub. AlHashmi made the comments in a discussion with Crypto.news. HAQQ Network claims to be a scalable proof-of-stake-based blockchain, capable of high throughput. The network is fully compatible and interoperable with Ethereum. The project also focuses on the development of a Sharia-compliant Web3.  While the project is headquartered in Niqa Al Dheeb in the United Arab Emirates (UAE), Indonesia is also a significant market for the company, given that it has just received regulatory approval for the HAQQ Network’s native token from the Indonesia Financial Services Authority (OJK). Islamic Coin (ISLM) is the network’s native token. It is being offered as a Sharia compliant digital currency, with Sharia law being the Islamic legal system that governs the lives of millions of Muslims throughout the world.Photo by Nick Agus Arya on UnsplashGateway marketOffering his thoughts on the Indonesian crypto market, AlHashmi stated: “When we look at Indonesia as a market, I would say it is incomparable. It can be number one to be honest. Because I have seen statistics of growth happening in a very big volume. The volume of trade, transactions and users, I think Indonesia can be very soon one of the top 3 countries in the world.” Indonesia takes on added importance for the HAQQ Network project. The project’s co-founder sees the Southeast Asian nation as a gateway into a broader market given that it has the largest Muslim population in the world. He said that if his project is successful in Indonesia, then there will be no barrier to enter markets in other predominately Muslim nations. The entrepreneur believes that Indonesia is on the cusp of realizing its potential within the crypto sector. He said that Indonesia has a “competitive edge” when compared with other nations. Population size and rapid economic growth feed into that potential, with AlHashmi claiming that Indonesia is primed to become the largest crypto hub in Asia. Smooth regulatory processFrom a regulatory perspective, he also feels that Indonesia is outperforming other jurisdictions. The HAQQ Network project team experienced a smooth process in acquiring regulatory approval for ISLM recently. He believes that although the process was detailed, it was completed quicker than he would expect in other countries.  AlHashmi added that “regulations are flexible enough to enable project owners to do good business to protect the community as well.” Local regulator, the OJK, has expressed an interest in exploring the development of Sharia-compliant crypto assets. Earlier this month, Hasan Fawzi, OJK's executive head overseeing crypto assets supervision, told local media that the regulator is open to advancing Sharia-based cryptocurrencies.  Hasan stated: “Globally and regionally, this is a common practice. It is not unusual to create crypto assets that adhere to Sharia principles.” The OJK executive is particularly interested in tokenization of real-world assets (RWAs). He believes that if this proves to be successful, it could lead to further Sharia-complaint crypto products being launched. The OJK is currently testing tokenized RWAs within a sandbox environment.

Piggycell, a blockchain decentralized physical infrastructure network (DePIN) startup, recently announced that it has successfully closed its seed investment round for $10 million. Piggycell will mainly use the funds raised from the investment round to expand its charging infrastructure and ecosystem further.Piggycell is improving the ownership and management of charging infrastructures through DePINs and real-world assets (RWAs). By integrating blockchain technology with physical assets, Piggycell aims to empower users through decentralized ownership, transparent profit-sharing models and enhanced community engagement. Since its establishment in 2020, Piggycell has made advancements in developing its infrastructure. It currently has over 13,000 charging hubs with over 100,000 batteries across all cities in South Korea. As a key player in the country's portable battery rental industry, Piggycell boasts nearly four million users and commands over 90% of the market share. One of the notable investors in the round is Animoca Brands, a Web3 company that uses blockchain technology to provide digital property rights to consumers worldwide, supporting the development of the open metaverse. Animoca Brands is one of the most active investors in Web3, with a portfolio of over 540 investments. Another key investor in this round is Internet Computer (ICP), a third-generation blockchain developed by the DFINITY Foundation that enables full end-to-end decentralization without the use of cloud computing. With its cryptographic methods, ICP supports fully on-chain applications, including complex web services.The investment from Animoca Brands, ICP and other investors further endorses Piggycell as a DePIN platform that bridges traditional Web2 services with the Web3 ecosystem. Having received backing from Web3 investors, Piggycell is now working to accelerate its decentralized infrastructure network with next-generation blockchain capabilities. Piggycell plans to launch its DePIN platform in the first half of 2025.  About PiggycellPiggycell is an RWA and DeFIN project that merges blockchain with real-world utility, offering a Charge-to-Earn experience. Its power bank-sharing infrastructure rewards users for charging their devices, bridging digital incentives with real-world convenience. By combining hub-based charging stations with blockchain technology, the project seeks to enhance transparency and efficiency through a digital twin strategy. Beyond charging, Piggycell integrates a social app-tech gaming platform, fostering interaction, gamification and community-driven growth.

Korea requires lawmakers and senior officials to declare crypto holdingsSouth Korea’s Ministry of Government Legislation announced on Thursday (local time) that 84 new legislative statutes are set to be implemented in December. Among these statutes, an amendment to the Public Service Ethics Act stands out, which will require lawmakers and senior government officials to report their virtual asset holdings.Photo by Huy Phan on UnsplashStarting Dec 14The Public Service Ethics Act requires public officials in political service, government officials of rank four or higher and executives of public service-related organizations to declare their own wealth as well as that of their spouses and lineal relatives. In Korea, public servants are ranked from one to nine, with one being the highest and nine being the lowest. As it stands, disclosing cryptocurrency holdings isn’t mandated, but this will change from Dec. 14 due to recent amendments. Records of cryptocurrency transactions will also be subject to disclosure.Possible restrictions on departments or employeesFurthermore, the leader of a national or local government organization has the authority to enforce restrictions on the acquisition of virtual assets for specific departments or employees under their jurisdiction. This action is applicable if their roles are associated with accessing cryptocurrency information or having an impact on the crypto market. In such scenarios, the chief officer is obligated to report their methods of imposing these restrictions to the pertinent government ethics committee. The committee then holds the right to recommend adjustments to these strategies.