ChainCatcher news, the chairman of the Financial Services Commission of Korea, Kim Byung-hwan, stated that he will review the monopoly phenomenon in the virtual asset market centered around Upbit. During the national policy inspection by the National Assembly's Administrative Committee, Kim Byung-hwan responded to questions from lawmakers regarding the monopoly structure of Upbit, pointing out that a comprehensive review will be conducted through the Virtual Asset Committee.Lawmakers also questioned the partnership between Upbit and K Bank, stating: "K Bank's total deposits amount to 22 trillion won, of which Upbit's deposits reach 4 trillion won, accounting for as much as 20%. If Upbit's trading is interrupted, K Bank could face a run on the bank."

ChainCatcher news, according to Dongwang reports, the Deputy COO of Victory Securities published an analysis stating that the virtual asset market has reached the lower end of a volatile trend. Last week, Bitcoin's price dropped by approximately 4.25% over the week, while Ethereum fell by about 5.29%. The decline in virtual assets is mainly due to the impact of U.S. economic data, but from the perspective of the virtual asset market, it still shows resilience.In terms of capital flow, about $706 million flowed out of the over-the-counter Bitcoin ETF last week, and approximately $98 million flowed out of the Ethereum ETF. Despite the outflow of funds, if market sentiment remains positive, it may only be a temporary adjustment rather than a change in the long-term trend; the open interest in Bitcoin contracts on exchanges is at a historical high, which usually indicates that capital remains in the market, showing traders' strong commitment to the market.This dynamic of funds may reflect market participants' recognition of the current price level and signs of optimism for the mid-to-long-term in the latter half of the bull market. From a spillover effect perspective, the average market capitalization ratio of the top 10% of U.S. listed companies to the average market capitalization of the other 90% of U.S. listed companies has reached twenty-eight times, indicating a concentration of leading companies, which suggests that a rotation within U.S. stocks may soon unfold, potentially leading to a decline in virtual assets.In this week's fluctuations in the virtual asset market, the prices of Bitcoin and Ethereum have experienced a decline, but this does not necessarily indicate a change in the long-term trend. Market volatility is an inherent characteristic, and investors should pay more attention to the fundamentals and long-term value of the market. As the market develops and matures, more stability and predictability may be anticipated.

ChainCatcher news, Executive Director Fu Rao of the Hong Kong International New Economy Research Institute wrote in the Ta Kung Pao article "Improving the Regulation of Virtual Assets for Healthy Industry Development," pointing out that the Supreme People's Court and the Supreme People's Procuratorate of China jointly issued an interpretation regarding several issues related to the application of laws in handling money laundering criminal cases, which explicitly lists virtual asset transactions as one of the methods of money laundering. This will have the following impacts on the virtual asset industry:Increased compliance costs for the industry. The introduction of regulations means that practitioners need to pay more attention to compliance issues and increase compliance investments to ensure that their businesses are legal and compliant. The market will undergo reshuffling, and some non-compliant U businesses and project parties may exit the market, further increasing industry concentration.Enhanced investor education. The introduction of regulations will prompt investors to pay more attention to the risks associated with virtual assets, improving their ability to identify risks.Gradual improvement of industry regulation. The release of this judicial interpretation will help regulatory authorities to conduct more effective oversight of the virtual asset industry, promoting healthy industry development.As Hong Kong vigorously develops its virtual asset economy, the mainland has responded by addressing serious crimes most easily triggered by virtual assets. In this context, both U businesses and ordinary investors should enhance their legal awareness, ensure compliance in transactions, and avoid falling into legal risks.

ChainCatcher news, according to South Korean media Digital Asset, the Ministry of Justice of South Korea stated, "The Southern District Prosecutor's Office's Joint Investigation Team for Virtual Asset Crimes is working hard to crack down on the manipulation of the virtual asset market, unreported virtual asset exchanges, and virtual asset deposit fraud." The Ministry of Justice selected the PICA fraud case of 90 billion won, illegal exchange operations of 5.8 trillion won, and the Haru Invest deposit fraud case of 14 trillion won as representative examples of these crimes.The Ministry of Justice stated, "We are discussing with the Financial Services Commission and the Financial Supervisory Service to formulate subsidiary laws, such as the calculation method for unfair profits from unfair trading behaviors in virtual assets." He added, "We expect this will help quickly investigate unfair trading behaviors in the virtual asset market, thoroughly recover criminal proceeds, and enhance the reliability and stability of the market."

ChainCatcher news, according to Edaily, the Financial Supervisory Service of South Korea is seeking to establish a new organization dedicated to the supervision, inspection, and investigation of virtual assets. The newly formed investigation team will have the authority to investigate "market manipulation" of virtual assets. In addition to inspecting virtual asset operators, starting from July next year, there will also be a serious investigation into improper trading behaviors such as market manipulation and the use of undisclosed information. The scale of the newly established department is expected to be determined next month after the government finalizes the budget management guidelines for public enterprises and quasi-government organizations.

ChainCatcher news, the Hong Kong Stock Exchange recently released a research report titled "The Development of ETFs and the Global Financial Market Virtual Asset Ecosystem." The topics discussed in the report include not only virtual asset ETF products but also the development of global virtual assets and their regulatory frameworks, the market performance of virtual asset ETFs around the world, the evolution of local crypto policies in Hong Kong, and the current status of ETF products in Hong Kong.The report points out that entry into the virtual asset market can be achieved through direct channels, such as buying and selling cryptocurrencies via cryptocurrency brokers or trading platforms. It can also be done through indirect channels, such as investing in stocks of blockchain companies, cryptocurrency futures, ETFs, and other funds. The Hong Kong Stock Exchange believes that entering the virtual asset market indirectly through ETFs is safer, more compliant, and has more controllable risks. (source link)