US judge asks for clarification on Do Kwon’s foreign charges

Congressman Keith Self of Texas has introduced an amendment to the $900 billion US Defense Bill aimed at prohibiting the Federal Reserve from developing or piloting a central bank digital currency (CBDC). This amendment comes as part of a broader push against what Self describes as an 'Anti-CBDC Surveillance State' initiative.

The UK crypto lobbying group has partnered with the Digital Chamber to advocate for cross-border cryptocurrency policy, reflecting a growing collaboration between US and UK policymakers on crypto regulation. This partnership aims to enhance regulatory frameworks and promote a unified approach to digital asset governance.

A U.S. judge has demanded clarification regarding Do Kwon's potential foreign charges and the details surrounding his sentencing, including the time served and the number of victims involved. This inquiry comes as Kwon awaits a decision on his prison term related to the TerraUSD crash, which resulted in significant financial losses for investors.

South Korea's cryptocurrency committee is experiencing a slowdown in progress due to the introduction of strict liability rules, which have led to a cautious approach among stakeholders in the crypto market, as reported by Kookmin Ilbo.

South Korea has tightened regulations for cryptocurrency exchanges, implementing bank-level standards in response to a significant breach at Upbit, the country's largest exchange, which resulted in a loss of approximately $36 million. This breach, linked to North Korea's Lazarus Group, has raised alarms about the security of digital assets in the region.

Coinbase and South Korean premiums are showing positive trends as Bitcoin's price stabilizes amidst December market volatility, with Bitcoin recently reclaiming the $93,000 mark after a period of bearish sentiment. This rebound indicates a potential shift in market dynamics, suggesting improved investor confidence.

South Korea is considering implementing a strict no-fault compensation law for cryptocurrency exchanges, mandating that they fully reimburse users for losses incurred due to hacks or IT failures. This proposed legislation reflects a shift towards consumer protection similar to that of traditional banking systems.

South Korea is drafting legislation to implement one of the strictest investor-protection regimes globally for cryptocurrency, requiring exchanges to fully compensate users for losses due to hacks or system failures without needing to prove negligence. This move is part of a broader initiative to enhance consumer protection in the crypto market.