[Weekly Blockchain] Major Blockchain News in the 2nd Week of June, 2024
Hello, this is the LEDGIS Team.
It seems like the weather is starting to get hot as summer officially begins.
Just like the blazing sunlight, there has been some HOT news in the blockchain market.
Let’s find out what news there has been this week together with [Weekly Blockchain]!
For detailed information on each news item, please refer to the respective articles.
👉 Starting from the 19th of next month, prohibition on virtual asset illegal transactions… FSS “Strict Inspection”
According to KBS News, financial authorities have announced their intention to establish market trust through rigorous management ahead of the implementation of the Virtual Asset Consumer Protection Act, which prohibits market manipulation and illegal transactions related to virtual assets starting next month.
The Financial Supervisory Service reportedly held an internal control workshop targeting virtual asset service providers and compliance supervisors at its main office in Yeouido on the 11th.
Deputy Director General Kim Byeong-chil of the F SS emphasized during his keynote speech that “With the enactment of the Virtual Asset Consumer Protection Act, the regulatory framework for establishing market order and protecting users will begin full-scale operation.” He further stated, “Following its enactment, we will build market trust through rigorous and thorough investigations and inspections.”
👉 Do Kwon, Terraform agree to pay $4.47 billion to settle crypto collapse lawsuit
According to Newsis, Do Kwon, a central figure in the Terra Luna collapse incident, and his firm Terraform Labs have agreed to pay a $4.47 billion fine and restitution to the U.S. Securities and Exchange Commission (SEC).
Additionally, the settlement includes a provision prohibiting Terraform Labs from engaging in cryptocurrency asset securities trading. Mr. Kwon is also barred from serving as an executive or director of a publicly traded company.
The SEC stated with this settlement that they will return as much funds as possible to the harmed investors and could permanently shut down Terraform.
👉 Woori Bank employee arrested for embezzling 10 Billion KRW and going all-In on cryptocurrency.
According to Kyunghyang Shinmun, a Woori Bank employee accused of embezzling around 10 Billion KRW and investing it in cryptocurrency, resulting in losses, has been arrested.
Senior Manager A at the Gimhae branch is accused of forging loan applications and deposit-related documents since earlier this year until recently, embezzling approximately 10 billion KRW in loans and investing it in cryptocurrency.
The police are investigating A to determine accomplices and the exact amount of investment involved.
That’s all for this week’s news.
We’ll be sure to bring you more updates through [Weekly Blockchain] next week, so stay tuned!
See you again next week!
