ChainCatcher news, the Philippine Securities and Exchange Commission (SEC) has introduced comprehensive regulations for cryptocurrency asset management, covering disclosure, public offerings, trading, and marketing activities. These regulations aim to enhance investor protection and promote transparency in the burgeoning digital asset market.According to the new guidelines, cryptocurrency asset issuers must submit disclosure documents to the SEC at least 30 days prior to any marketing activities or public sales. This document must detail the provider of the cryptocurrency asset, the issuer, key features, risks, and underlying technology, as well as clearly state potential risks, including value loss and limited transferability.Cryptocurrency assets classified as securities must obtain a registration statement approved by the SEC before public offering. Entities issuing or trading cryptocurrency assets must comply with anti-money laundering (AML) laws and SEC reporting requirements. It emphasizes that non-compliance may result in fines, suspension, or revocation of licenses. (Crowdfund Insider)

ChainCatcher news, Spartan Group analysis indicates that in the 2024 U.S. presidential election, Trump not only won the election with an overwhelming advantage, but the Republican Party also took control of both the Senate and the House of Representatives. This victory provides significant leverage for driving policy changes, and it is expected to be very favorable for the crypto industry in the next 12 months.The article points out that the difference in this election lies in the importance of the crypto agenda. Trump and his core advisors are crypto-friendly, and crypto companies provided substantial support during the election. Additionally, Trump expressed a desire for the U.S. to become a global crypto hub. Currently, the U.S. is a leader in crypto infrastructure, mining, and trading, but the new government's policies may further solidify this position.Historical data shows that the 12 months following a U.S. election are typically a strong performance period for crypto assets. The clarity of policies resulting from the election and the overlapping effects of the BTC halving cycle may shift market sentiment towards risk appetite, particularly benefiting the performance of small and medium-sized tokens. Spartan Group believes that as the "altcoin season" approaches, the crypto market will see more upward potential in the coming year.

ChainCatcher news, according to Cryptonews, South Korean Deputy Prime Minister Choi Sang-mok claimed that the government does not hold a negative attitude towards cryptocurrency-related matters.Choi Sang-mok stated: "Since the specific details of the strategic cryptocurrency asset proposal by the incoming President Trump have not yet been announced, now is not the time for evaluation. We plan to prepare responses and other measures after the new U.S. government takes office. We will take action after these and other new proposals related to cryptocurrency assets are specified. The government does not hold a negative attitude towards cryptocurrency assets. As regulations and related systems are still in their infancy, we have decided to postpone the introduction of cryptocurrency taxes. We believe that monitoring the progress of regulations should come before introducing taxation."Choi Sang-mok further claimed that the South Korean central bank, financial regulatory agencies, and "other relevant departments" are currently "formulating new regulatory policies" for the cryptocurrency sector. These concerns "not only focus on customer protection" but also on the "legal nature" of cryptocurrency.

ChainCatcher news, according to CoinDesk, the European Securities and Markets Authority (ESMA) released its final guidance on Tuesday to assist member states in implementing the upcoming regulations. ESMA published the final report on reverse solicitation, systems, the potential classification of cryptocurrencies as financial instruments, and technical standards for preventing market abuse.The EU's dedicated regulation for the cryptocurrency industry, the Markets in Crypto-Assets (MiCA) regulation, is set to come into effect on December 30 across 27 member states. However, some countries have yet to develop legislation to implement MiCA. The Bank of Portugal stated on Monday that, as the legislation has not yet been passed, it is currently unclear which national authority will be responsible for these rules. Industry associations noted that part of the delay in national authorities is due to the short time gap between ESMA's release of the final technical standards in October and the implementation date.ESMA Chair Verena Ross stated, "Looking ahead, as the transition period progresses, we will continue to provide guidance and work with all national competent authorities (NCAs) to ensure the smooth implementation of MiCA and support a level playing field through regulatory convergence actions."

ChainCatcher news, the Hong Kong government recently announced that it has committed to implementing a crypto asset reporting framework (reporting framework) to enhance international tax transparency and combat cross-border tax evasion, as stated to the OECD Global Forum on Tax Transparency and Exchange of Information.In light of the rapid development of the crypto asset market, the OECD published the reporting framework in June 2023 to ensure the maintenance of global tax transparency. As an extension of the existing "Common Reporting Standard for Automatic Exchange of Financial Account Information on Tax Matters," the reporting framework establishes a similar mechanism for users or controllers of crypto assets to automatically exchange tax-related information on crypto asset accounts and transactions with the tax jurisdiction of their tax residents each year.To ensure the fair and effective global implementation of the reporting framework, the Global Forum has invited all relevant crypto asset industries and tax jurisdictions identified as directly related to the reporting framework (including Hong Kong) to implement the reporting framework.Hong Kong has committed to implementing the reporting framework with suitable partners on a reciprocal basis, with those partners required to meet standards for data confidentiality and security. Considering the latest timeline established by the Global Forum, the government plans to complete the necessary local legislative amendments by 2026 or earlier, and to begin the first automatic exchange of information under the reporting framework with relevant tax jurisdictions starting in 2028.

ChainCatcher news, on-chain analyst ZachXBT revealed that the LastPass attackers targeted over 40 victim addresses, stealing approximately $5.36 million in crypto assets. The attackers then exchanged the stolen funds for ETH and attempted to obscure the flow of funds by transferring assets across chains from the Ethereum network to the Bitcoin network through multiple instant exchanges.

ChainCatcher news, according to Decrypt, in response to changing regulations, Bybit has decided to temporarily adjust the availability of its products and services within the European Economic Area (EEA).Bybit will completely cease all communications with the EEA, a measure aimed at avoiding any potential violations of strict reverse solicitation principles. Existing customers will not experience any interruption in access to their crypto assets.Additionally, Bybit is actively seeking the MiCAR license in Austria to become one of the first participants in the EEA. Once the appropriate license is obtained, Bybit will begin working with its EEA customers in accordance with applicable laws.

ChainCatcher news, according to Bloomberg, Australian pension and wealth management company AMP announced the allocation of Bitcoin futures products, with an investment scale of 27 million AUD (approximately 17.2 million USD), accounting for 0.05% of its total pension assets.This is the first time Australia's 4.1 trillion AUD pension system has ventured into crypto assets. Although Reserve Bank of Australia Governor Michele Bullock holds a cautious attitude towards crypto assets, AMP stated that it will continue to manage related investment portfolios under a strict risk control framework.

ChainCatcher news, according to a report by Reuters, Goldman Sachs CEO David Solomon, when asked about his views on cryptocurrencies and whether banks can trade cryptocurrencies, stated that regulations need to change to allow banks to do so. "This is a question you have to ask the regulators. Currently, as a regulated banking institution, we are not allowed to hold cryptocurrencies like Bitcoin as principal. We provide advice to clients on various technologies and issues and will continue to do so, but at the moment, from a regulatory perspective, our ability to act in these markets is extremely limited."