ChainCatcher news, according to Newsis, Kim Jae-yong, Vice Chairman of the Financial Services Commission of Korea, announced at the third virtual asset committee meeting that the establishment of real-name accounts for corporate entities will be promoted in three phases.The first phase (before the second quarter of 2025) will allow law enforcement agencies, non-profit corporations, and virtual asset exchanges to open accounts; the second phase (in the second half of 2025) will expand to approximately 3,500 professional investment corporations; the third phase will consider opening to ordinary corporate entities.The Financial Services Commission stated that the plan will be gradually advanced after improving anti-money laundering regulations and institutional development.

ChainCatcher news, according to Forbes business reporter Eleanor Terrett, the U.S. House Financial Services Committee will hold a hearing titled "The Golden Age of Digital Assets: Planning the Path Forward" at 3:30 AM Beijing time on February 12.Jonathan Jachym, Deputy General Counsel and Head of Global Policy and Government Relations at Kraken Exchange, will testify at the hearing. The hearing will be streamed live on the YouTube platform.

ChainCatcher news, according to The Block, Democratic leader of the U.S. House Financial Services Committee Maxine Waters introduced a stablecoin regulatory discussion draft on February 10. The draft requires stablecoin issuers to maintain at least a 1:1 reserve backing and to be regulated by federal regulatory agencies such as the Office of the Comptroller of the Currency (OCC), the Federal Reserve (Fed), and the Federal Deposit Insurance Corporation (FDIC), as well as state regulatory agencies.It is worth noting that Republican lawmakers also proposed a stablecoin regulatory draft last week, but there are differences in the regulatory approach. Meanwhile, the Senate has formed a working group that will collaborate with the House Financial Committee, the Senate Agriculture Committee, and other agencies to jointly develop cryptocurrency and stablecoin regulations.

ChainCatcher news, according to Nikkei, the Financial Services Agency of Japan has begun to consider positioning crypto assets as financial products similar to securities, with the aim of requiring companies to disclose more detailed information to protect investors. Currently, the agency is holding closed-door study meetings with experts to review whether the current regulation of virtual currencies is sufficient.It is reported that the Financial Services Agency of Japan has begun to design a system, which will announce the system reform policy in June this year, and after discussions at the Financial System Council this autumn, the law will be amended at the regular Diet session in 2026. The new system also aims to lift the ban on "Bitcoin spot ETFs" and may reduce the current tax rate of up to 55% to 20%, the same as the financial income tax rate, in order to achieve the goal of both protecting investors and revitalizing the market. An important question raised for the future is whether the target includes all crypto assets or is limited to those assets that have been approved as ETFs in the United States, such as Bitcoin and Ethereum.

ChainCatcher news, according to Nikkei, the Financial Services Agency of Japan has begun to consider positioning crypto assets as financial products similar to securities, with the aim of requiring companies to disclose more detailed information to protect investors. Currently, the agency is holding closed-door study meetings with experts to review whether the current regulation of virtual currencies is sufficient.It is reported that the Financial Services Agency of Japan has begun to design a system, which will announce the system reform policy in June this year, and after discussions at the Financial System Council this autumn, will amend the law at the regular Diet session in 2026. The new system also aims to lift the ban on "Bitcoin spot ETFs" and may reduce the current tax rate of up to 55% to 20%, the same as the financial income tax rate, in order to both protect investors and revitalize the market. An important question raised for the future is whether the target is all crypto assets or only those that have been approved as ETFs in the United States, such as Bitcoin and Ethereum.Bloomberg recently reported that "the expert study group established by the Financial Services Agency of Japan generally agrees that cryptocurrencies are beginning to be positioned as investment targets," which seems to be a response to the U.S. SEC's approval of Bitcoin spot ETFs and Ethereum spot ETFs, as well as the Trump administration's support for the crypto industry.

ChainCatcher news, according to Nikkei, the Japanese Financial Services Agency has requested Apple and Google to remove the applications of five unregistered overseas cryptocurrency exchanges. These include exchanges such as Bybit Fintech Limited located in Dubai and MEXC Global based in Singapore.It is reported that Apple has removed these apps from the App Store as requested. Previously, the Japanese Financial Services Agency had repeatedly warned these exchanges not to conduct business targeting Japanese users, but there was no response, marking the first time the regulatory agency has taken action to remove apps.Previous news, several cryptocurrency exchange apps have been removed from the Japanese App Store.

ChainCatcher news, according to Fox reporter Eleanor Terrett, Republican members of the U.S. House Financial Services Committee announced the witness list for next Tuesday's hearing, titled "The Golden Age of Digital Assets: Charting a Path Forward."Participants:Jonathan Jachym, Vice President and Global Head of Policy and Government Affairs at KrakenJi Kim, President and Acting CEO of the Crypto Innovation CouncilCoy Garrison, Partner at Steptoe LLP and former SEC advisorJose Fernandez da Ponte, Senior Vice President and General Manager of Blockchain, Cryptocurrency, and Digital Currency at PayPal

ChainCatcher news, according to Aggr News, Trump Media & Technology Group (TMTG) has applied to register the "Truth.Fi Bitcoin Plus ETF," marking its entry into the Bitcoin ETF and fintech services sector.TMTG plans to launch a variety of ETFs and customized investment accounts (SMA), including a U.S. manufacturing-themed ETF, a U.S. energy independence ETF, and Bitcoin-related ETFs. The project is expected to attract up to $250 million in investment, with Charles Schwab responsible for custody and collaborating with TMTG to develop SMA products.

ChainCatcher news, according to cryptonews, a new survey conducted by financial service provider Vyberu shows that over one-fifth of Russian respondents have traded or held Meme coins. The survey included 3,000 Russians aged between 18 and 60.The survey also found that 15% of respondents stated that they purchased Meme coins due to "hype." Additionally, 4% of respondents indicated that they bought Meme coins for "quick profits." Furthermore, 2% of respondents mentioned that they invested in these coins to "support the project creators."Most of those who reported having purchased Meme coins believe that Meme coins have good "growth potential," with 23% of token buyers stating they were attracted by the "cultural or ironic aspects" of Meme coins.6% of respondents were drawn to Meme coins because of their active communities and "fan groups." Moreover, a quarter of respondents believe that the issuance of Meme coins is an "effective marketing initiative." However, nearly half of the respondents consider Meme coins to be a "temporary phenomenon" and a social media trend.

ChainCatcher news, according to Crowdfund Insider, U.S. House Financial Services Committee Chairman French Hill and Digital Assets, Fintech, and Artificial Intelligence Subcommittee Chairman Bryan Steil issued a joint statement expressing support for President Trump's signing of an executive order related to digital assets. The two chairmen stated that the President's Digital Asset Market Working Group will strengthen the United States' leadership position on the international stage.It is noteworthy that they also emphasized their stance against the issuance of Central Bank Digital Currencies (CBDCs) in the U.S., believing that this aligns with the goal of protecting the financial privacy of Americans.

ChainCatcher news, the New York Department of Financial Services has issued a consumer alert warning to be cautious of "emotion-based virtual currencies," or Meme coins, emphasizing their extreme volatility, lack of regulation, and high risk of fraud, including sudden price surges and "rug pull" schemes.The department warns that these tokens are typically controlled by a small group of insiders, created on unlicensed platforms, and are susceptible to severe price manipulation. The New York Department of Financial Services also stated that it has begun closely monitoring Meme coins, as part of scams where creators or insiders may engage in manipulative "wash trading" to create the illusion of market activity and price increases.The public often finds it difficult to discern which Meme coins are being manipulated, and consumers should be particularly wary of the recent surge in emotion-based currencies created through unlicensed platforms that allow individuals without technical expertise to create currencies with just a few clicks. Even on regulated platforms, the prices of Meme coins are unstable and unpredictable, and they can drop significantly in a short period.

ChainCatcher news, according to Jinshi reports, Allianz CEO stated that we expect the "extortion" of regulatory fines to significantly decrease under the Trump administration, and compared to the Biden administration, Trump will have a positive impact on the financial services industry.

ChainCatcher news, according to the WeChat public account of the China Financial Forty Forum, Liu Xiaochun, Vice President of the Shanghai Institute of New Finance (SFI), and Xiao Lei, a young researcher at the Shanghai Jiao Tong University China Financial Research Institute and head of investment at Kaitai Vision Fund (Hong Kong), co-authored an article titled "Reconsidering the Modern Monetary System in the Wave of Cryptocurrencies."The article points out that there have been various analyses and expectations regarding cryptocurrencies like Bitcoin in the current market. The 2024 U.S. election has further brought cryptocurrencies like Bitcoin to the forefront. However, for cryptocurrencies to truly replace existing sovereign currencies, they still face institutional realities and challenges. The vast majority of innovative applications of cryptocurrencies like Bitcoin essentially belong to financial services.In dealing with cryptocurrencies, a more valuable approach is to explore their more feasible application paths in the financial sector based on the functions and systems of modern money, combined with the technical characteristics of cryptocurrencies. This can mainly be approached from two directions: first, exploring the financial assetization path that is not linked to fiat currencies; second, developing payment and settlement tools that are linked to fiat currencies.

ChainCatcher news, according to Blockspace, Tether is suing financial services company Swan Bitcoin due to a contractual dispute over the two companies' Bitcoin mining joint venture.A Tether spokesperson wrote in an email: "Tether and its co-plaintiff 2040 Energy Limited have recently filed a lawsuit against Swan in the High Court of England and Wales." Tether stated: "Throughout our collaboration with Swan, Tether has always acted in good faith, supported our shared business objectives, and adhered to all relevant agreements.In contrast, Swan's actions have been reckless, leading them to seriously breach the agreement between us. Therefore, we are compelled to take necessary measures to protect our investment." Swan confirmed receipt of the lawsuit but declined to comment further. "Swan will vigorously defend its rights," the spokesperson added.

ChainCatcher news, according to Cointelegraph, Adrienne Harris, the head of the New York Department of Financial Services (NYDFS), announced the "Transatlantic Regulatory Exchange" (TRE) program to help regulators better understand how foreign institutions handle emerging payment and digital asset issues.In a notice on January 13, Harris stated that the program will begin with the exchange of senior officials with digital asset experience between NYDFS and the Bank of England, which is "crucial for regulatory coordination." The TRE program's exchanges will start in February with the Bank of England and will last for at least six months.It is understood that NYDFS is responsible for overseeing cryptocurrency regulation in New York State, where many companies take advantage of the region's business and regulatory environment. The financial regulatory agency implemented the BitLicense program in 2015 and approved projects such as Ripple Labs' RLUSD stablecoin last December.

ChainCatcher news, Fox Business reporter Eleanor Terrett disclosed on social media that U.S. Congressman French Hill announced that the Financial Services Committee has identified several key positions, including:Vice Chair of the Committee: Bill Huizenga (MI-04)Chair of the Digital Assets, Financial Technology and Artificial Intelligence Subcommittee: Bryan Steil (WI-01)Chair of the National Security and Illicit Finance Subcommittee: Warren Davidson (OH-08)

ChainCatcher news, the Financial Services Commission of South Korea has announced that it will promote the legalization of Security Token Offerings (STO) and fractional investment platforms as one of the core economic tasks for this year. STO converts assets such as real estate and artworks into digital tokens through blockchain technology, supporting small investors to participate in high-value asset investments. Financial authorities have begun revising the Capital Markets Act and the Electronic Securities Act, and are preparing the relevant infrastructure for this purpose.The industry expects that the legislation of STO will significantly boost the growth of South Korea's digital asset market, with the STO market size in South Korea projected to reach 119 trillion won by 2026 and increase to 367 trillion won by 2030, nearly quadrupling.

ChainCatcher news, according to the People's Bank of China official account, the People's Bank of China work conference will be held from January 3 to 4, 2025. The conference pointed out that in 2024, the financial management and service capabilities will continue to improve, and the research and application of the digital renminbi will be steadily advanced.In 2025, further optimization of the central bank's financial management and services will be carried out, strengthening the legal protection of the central bank's duties. A multi-level and diversified payment service system will be improved. The integration of information technology systems will be promoted in an orderly manner. The multi-level credit reporting market will be vigorously developed. The central bank's financial services in rural areas will be continuously optimized. Solid work will be done in economic and financial research, comprehensive statistics of the financial industry, currency issuance, digital renminbi research and development, treasury management, and international assessments of anti-money laundering, among other tasks.

ChainCatcher news, Bitcoin financial services company Fold announced that it has completed a $20 million convertible bond financing provided by ATW Partners, and both parties have reached an agreement to potentially provide an additional $10 million in financing after merging with FTAC Emerald.This financing is secured by the company's assets (including a portion of Bitcoin), and the bonds will mature three years after Fold becomes a publicly traded company, converting into common stock of the merged company at a fixed conversion price of $11.50 per share.Fold stated that the initial $20 million will be used to support growth plans and accelerate product development, while the remaining $10 million financing will provide more capital flexibility after the business combination with FTAC Emerald is completed.

According to ChainCatcher news, the Secretary for Financial Services and the Treasury, Christopher Hui, proposed the second reading of the "Stablecoin Bill" at the Legislative Council meeting today and hopes to pass it as soon as possible. The regulatory framework focuses on the following three points:Licensees must maintain a robust reserve stabilization mechanism to ensure that the reserve assets of stablecoins consist of high-quality and highly liquid assets, with a total value at all times at least equal to the face value of the circulating fiat currency stablecoins, and properly segregated and safeguarded;Holders of stablecoins should have the right to redeem stablecoins from the issuer at face value, with redemption requests processed without unreasonable fees and within a reasonable timeframe;A series of requirements must be specified to combat money laundering, risk management, disclosure regulations, auditing, and appropriate candidates, among others.