ChainCatcher news, according to the Hong Kong Radio website, the CEO of the Hong Kong Securities and Futures Commission, Ashley Alder, reiterated in an interview that there will be announcements regarding the licensing of virtual asset trading platforms in Hong Kong by the end of the year. However, there was no response on whether there are platforms that have been "considered for licensing" but do not meet the standards after review. The report will disclose common issues found when platforms apply for licenses.

ChainCatcher news, according to Coindesk, the European Parliament approved the list of commissioners on Wednesday, which includes those responsible for overseeing digital asset regulation. Commissioners Stéphane Séjourné, Maria Luís Albuquerque, and Henna Virkkunen may bring cryptocurrencies under their jurisdiction.In September, European Parliament President Ursula Von der Leyen proposed a list of commissioners. Although cryptocurrencies are not the core topic of these positions, the committee will be responsible for ensuring the implementation of digital asset rules.Additionally, the EU's crypto assets market legislation MiCA will come into full effect at the end of December, so more work may be needed to ensure implementation.

ChainCatcher news, FOX reporter Eleanor Terrett cited sources reporting that among the senior members of Trump's transition team, former SEC commissioner Paul Atkins remains the most likely candidate to lead the SEC. Paul Atkins is not only well-versed in cryptocurrency but also has an in-depth understanding of the agency's internal workings as a former commissioner and a staff member for former SEC chairs Richard C. Breeden and Arthur Levitt.

ChainCatcher news, FOX reporter Eleanor Terrett posted on social media that, according to two sources close to the discussions at Mar-a-Lago, former SEC commissioner Paul Atkins remains the most likely candidate to lead the SEC among senior members of Trump's transition team.

ChainCatcher news, Dr. Ye Zhi Heng, Executive Director of the Intermediaries Division of the Hong Kong Securities and Futures Commission, stated that virtual assets have now become a top agenda for every financial regulatory authority.Hong Kong currently has three licensed virtual asset trading platforms, and is processing applications from an additional 15 platforms. Investors can expect more licensed platforms to comply with the SFC's robust investor protection measures.

ChainCatcher news, the chairman of the Financial Services Commission of Korea, Kim Byung-hwan, recently stated: "The prices of virtual assets have surged significantly in the short term, and the volatility of the market itself is also very high, so the government needs to closely monitor and focus on whether there are any abnormal transactions in virtual assets." The Financial Supervisory Service plans to check the operational status of the abnormal transaction monitoring system for virtual asset exchanges in the near future.Regarding the fact that the trading volume of the virtual asset market has exceeded that of the stock market, he stated: "If we look at the two markets, funds should flow into the stock market."He added: "We all recognize that the stock market is very important for the healthy cycle of our economy, but due to doubts about the positive impact of virtual assets on the real economy, it is necessary to study the situation where their trading volume remains high."

ChainCatcher news, according to Cryptonews, the chairman of the Financial Services Commission (FSC) of South Korea, Kim Byung-hwan, stated in a television interview that there are currently no plans to establish a national Bitcoin reserve.Kim Byung-hwan pointed out that South Korea will make decisions after observing the reactions of other countries to Trump's cryptocurrency adoption plan. He emphasized that the FSC currently prioritizes investor protection issues and remains vigilant about the rapid growth of the cryptocurrency market. It is reported that although South Korea implemented the "Virtual Asset Protection Act" in July this year, regulatory agencies still need to carefully assess the actual impact of cryptocurrency assets on the economy.

According to ChainCatcher news, the China Securities Regulatory Commission (CSRC) has released 8 financial industry standards, including the "Communication Guidelines for General Blockchain Infrastructure in Regional Equity Markets." The financial industry standard "Communication Guidelines for General Blockchain Infrastructure in Regional Equity Markets" specifies the communication guidelines between the general financial infrastructure based on the "Regulatory Chain - Local Business Chain" dual-layer architecture and the existing systems of regional equity markets. It clarifies the systems, main data objects, business scenarios, and operational instructions involved in 6 types of communication agreements: user registration agreement, asset registration agreement, fund mapping agreement, asset mapping agreement, transfer management agreement, and settlement management agreement. The implementation of these standards is beneficial for fully leveraging the supporting role of the "Regulatory Chain - Local Business Chain" dual-layer blockchain architecture for existing business systems and promoting the transformation and integration of these systems.

ChainCatcher news, according to The Block, Jaime Lizárraga, one of the three Democratic commissioners of the U.S. Securities and Exchange Commission (SEC), stated that he has informed President Joe Biden of his plans to resign and intends to leave the agency early next year. Lizárraga mentioned that he is stepping down to spend more time with his family.The day before Lizárraga announced his resignation, SEC Chairman Gary Gensler also planned to step down in January. This means that Commissioner Caroline Crenshaw will become the only Democrat leading the SEC. Gensler noted that he and Lizárraga not only worked together at the SEC but also collaborated at the U.S. Treasury after the 2008 financial crisis.

ChainCatcher news, Cointelegraph reports that Summer Mersinger, a commissioner of the U.S. Commodity Futures Trading Commission (CFTC), spoke at the North American Blockchain Summit, calling for the establishment of standard policies for cryptocurrencies through formal notice and comment procedures. Mersinger stated that the current "enforcement-style regulation" strategy taken by regulators towards the cryptocurrency industry is problematic, specifically mentioning the case of Uniswap Labs. She emphasized that the CFTC is the "ideal regulatory body for the cryptocurrency spot market," as it can implement significant legislative changes quickly without disrupting the market.Mersinger pointed out that while cryptocurrency entities (including decentralized finance, DeFi) are often categorized under existing classifications and required to comply with the same laws, there is currently no formal registration pathway. She suggested that the cryptocurrency industry should begin outreach immediately after the new government leadership is determined to facilitate early dialogue. Notably, the relatively small settlement amount recently reached by the CFTC with Uniswap reflects a subtle shift in regulatory attitudes.

According to ChainCatcher news, on the website of the Central Commission for Discipline Inspection and National Supervisory Commission, Yao Qian, former director of the Science and Technology Supervision Bureau of the China Securities Regulatory Commission and former director of the Information Center, has been expelled from the Party and public office due to serious violations of discipline and law. Investigations show that Yao Qian used regulatory power to seek benefits for specific technology service providers, involving money-for-power transactions related to virtual currencies, and illegally accepted huge amounts of property.In addition, he also violated the spirit of the Central Eight Provisions by improperly accepting valuable items, accepting banquets, and engaging in irregular operations in employee recruitment and investment shares. After research and decision by the Party Committee of the China Securities Regulatory Commission and relevant disciplinary inspection and supervision departments, Yao Qian has been subjected to serious penalties, and issues involving suspected criminal activities have been transferred to the procuratorial organs for legal review and prosecution.Previous report indicated that Yao Qian was suspected of serious violations of discipline and law, and had previously undergone disciplinary review by the disciplinary inspection team stationed at the China Securities Regulatory Commission and supervisory investigation by the Shantou Municipal Supervisory Committee in Guangdong Province.It is reported that Yao Qian was the first director of the Digital Currency Research Department of the People's Bank of China (CBDC) and was named one of the most influential figures in the blockchain field by Coindesk in 2017. He has published multiple research articles on blockchain technology, digital currency, and Web 3.0, and co-authored the book "Web 3.0: Changes and Challenges of the Next Generation Internet."

ChainCatcher news, according to Jinshi reports, Trump stated that Brendan Carr will serve as the chairman of the Federal Communications Commission.

ChainCatcher news, the Financial Information Unit (FIU) of the South Korean Financial Services Commission has discovered at least 500,000 suspected violations of customer identity verification (KYC) obligations during its review of the business renewal of the virtual asset exchange Upbit. The FIU is examining the legality of these cases one by one.The violations found during this review include some accounts that registered using vague identification documents, which may be used for money laundering or other illegal activities. According to the Act on Reporting and Using Specified Financial Transaction Information, virtual asset exchanges are required to renew their licenses every three years, and for violations of customer identity verification obligations, each case may be fined up to 100 million won. The FIU's review of Upbit is still ongoing.KYC is a necessary procedure under anti-money laundering (AML) and counter-terrorism financing (CTF) requirements, and exchanges must ensure that users submit valid identification and complete identity verification.

ChainCatcher news, according to The Block, NH Bank of Korea has partnered with Ethereum infrastructure provider Fireblocks to support the crypto prototype the bank is building. The two companies have signed a memorandum of understanding, which is a non-binding agreement outlining the intent of both parties to collaborate.Specifically, NHBank will use the Fireblocks Tokenization Engine to explore the integration of digital assets into its VAT and other refund processes.This also includes its inheritance tax process, which targets the taxation of capital transferred to future generations. In addition to the refund pilot, NHBank is also seeking to identify other "blockchain-driven projects within the NHBank ecosystem and create pathways for collaboration with global financial institutions."

ChainCatcher news, according to Ledger Insights, the Bank of Korea has announced a cooperation agreement with the Ministry of Science and ICT (MSIT) and the Financial Services Commission (FSC) to jointly test the feasibility of digital currency (CBDC) and tokenized deposits.The central bank plans to pilot tokenized deposits among 100,000 people by the end of the year and achieve interbank settlement through wholesale CBDC. In this trial, seven domestic banks will participate, and tokenized deposits will be protected under the current deposit insurance system.In addition, the central bank has developed a digital voucher platform to reduce the complexity and fraud risk associated with paper voucher settlements.

ChainCatcher news, according to Cointelegraph, as Trump prepares to take office as President of the United States in January 2025, the crypto community is speculating on the most likely candidates to lead the U.S. Securities and Exchange Commission (SEC). Crypto lawyer Jake Chervinsky stated in a post on X that SEC Commissioner Mark Uyeda is seen as a strong candidate for the position.Uyeda was appointed as an SEC Commissioner on June 30, 2022, and has consistently opposed enforcement-driven cryptocurrency regulation, earning the support of industry advocates seeking a more collaborative approach. Trump promised to fire Gensler on his first day in office, and since then, the crypto community has speculated that SEC Commissioner Hester Peirce could be a potential contender for the chair.However, Chervinsky stated that the likelihood of Peirce taking the lead is "very low," adding that he doubts she would be willing to take on a leadership role at the SEC. Chervinsky also mentioned that Trump might want to choose someone other than Uyeda to lead the SEC during his term. Furthermore, the lawyer emphasized that Trump's primary crypto policy focus must be to end Biden's "attempts to destroy the industry through enforcement regulation."

ChainCatcher news, according to Cointelegraph, Trump has acknowledged the removal of current SEC Chairman Gary Gensler, sparking speculation about potential successors, particularly those who may be inclined to adopt a more crypto-friendly approach.It is reported that Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), is known for her supportive stance on cryptocurrency and is considered a potential replacement for Gary Gensler. She is referred to as "Crypto Mom" by the community for her advocacy in the field. Hester Peirce has previously criticized the SEC's enforcement-led approach, arguing that regulatory clarity for the crypto industry would better serve the public interest and enhance the U.S.'s position in global digital finance.

ChainCatcher news, according to FinanceFeeds, the Cyprus Securities and Exchange Commission (CySEC) has extended the suspension period of the Cyprus Investment Firm (CIF) license for FTX.com until May 30, 2025. This license previously allowed the insolvent platform to operate throughout Europe.According to a regulatory announcement, during the suspension of authorization, FTX EU is prohibited from providing services or establishing business relationships with anyone, and from accepting any new clients. Furthermore, the company is not allowed to execute any client instructions for purchasing financial instruments, nor to provide any investment services within or outside Cyprus. Additionally, the suspended brand must not promote itself as an investment service provider or publish related advertisements. They must also close all open positions related to client contracts by the contract expiration date or upon client request, and refund all funds and profits.Although FTX EU has announced that it has initiated a process allowing clients to request their final balance before withdrawing fiat funds from their company-isolated client accounts, CySEC has still decided to extend the suspension period.

ChainCatcher News, Taiwan's "Financial Supervisory Commission" department head Huang Xi and Zhou stated at a fintech conference in Taipei on Monday that the Financial Supervisory Commission will require "virtual asset service providers" to complete compliance registration, with new rules set to take effect in January 2025. Non-compliance may result in criminal penalties, including up to two years of imprisonment.Mr. Huang indicated that with the new rules on the horizon, regulators aim to strengthen scrutiny in key areas, including fiat currency custody, information security, customer complaint handling procedures, record-keeping, and information disclosure. Mr. Huang pointed out that there will be stricter reviews of the listing and delisting of crypto assets. Cryptocurrency exchanges must establish clear procedures for the listing and delisting of crypto assets and take measures to prevent unfair trading and detect abnormal prices and trading volumes.In addition to introducing new compliance registration rules, the Financial Supervisory Commission is also drafting a special legal proposal specifically targeting crypto assets. Financial Supervisory Commission Chairman Peng Jinlong stated today at the forum that the regulatory body is making progress and plans to submit the legal proposal to Taiwan's highest administrative authority, the Executive Yuan, in June 2025.