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The South Korean government has announced the implementation of a unified public official asset disclosure service, incorporating the registration of cryptocurrency holdings. Beginning January 1, 2024, asset disclosure information for public officials, including cryptocurrency holdings, will be accessible through the Public Ethics Management Information System (PETI). This move aims to enhance transparency and accountability in the public sector, ensuring that approximately 5,800 public officials, including high-ranking civil servants, university professors, National Assembly members, and senior public officials, disclose their assets, including cryptocurrencies, through the centralized PETI platform. The initiative is expected to increase public access to information about the assets held by public officials and fortify measures against conflicts of interest. (Source: Cryptoslate.com)

The U.S. Securities and Exchange Commission (SEC) has established a deadline of December 29 for spot Bitcoin ETF applicants to finalize their filing amendments. Spot Bitcoin ETF issuers have been informed that applications fully updated and submitted by this date will be considered in the initial wave of decisions. Notably, the SEC has emphasized that filings mentioning the in-kind creation method will not be considered, urging the use of the cash creation method. This move comes as various spot Bitcoin ETF applications, including those from BlackRock, await regulatory approval, with market participants anticipating potential approval for multiple spot Bitcoin ETFs simultaneously. (Source: Bitcoin.com)

Grayscale Investments, a prominent crypto asset management firm, has undergone leadership changes as it awaits the Securities and Exchange Commission's (SEC) decision on its Bitcoin Trust (GBTC) application to become a U.S. spot exchange-traded fund (ETF). Barry Silbert, the former chairman, has resigned, and Mark Shifke, Chief Financial Officer (CFO) of Digital Currency Group (DCG), Grayscale's parent company, will take over as chairman effective January 1, 2024. The SEC has recently delayed decisions on various ETF applications, including Grayscale's, as the industry anticipates key regulatory developments in the coming months. (Source: Coindesk)

Global payments network Ripple has achieved a significant milestone with official regulatory approval from the Central Bank of Ireland to offer crypto services in the country. The approval includes Ripple's Irish subsidiary, Ripple Markets Ireland Limited, and allows the company to provide digital asset services in Ireland. This regulatory triumph in Ireland comes amid Ripple's ongoing legal battle with the United States Securities and Exchange Commission (SEC), where it recently secured a partial victory. The approval positions Ripple to expand its presence and offerings in the Irish crypto market. (Source: Bitcoinist.com)

Japan is considering significant tax reforms for cryptocurrencies in 2024, with a focus on taxing corporations based on their profits from virtual currency sales. The proposed changes also aim to establish a tax system for individual investors aligning with the tokens they hold. The reforms seek to elevate tax values for corporations engaged in holding and trading cryptocurrencies, fostering innovation and supporting startups in the country. The initiative is part of a broader effort to embrace digital assets, align with blockchain technology, and position Japan within the global landscape of web3. The reforms are anticipated to have a positive impact on the growth of the crypto industry in Japan. (Source: Cryptopolitan)

In a recent interview, Anatoly Aksakov, Chairman of the State Duma Financial Market Committee, revealed that Russia is considering the legalization of cross-border transactions with cryptocurrencies by the second half of 2024. Aksakov emphasized the importance of regulating Bitcoin and other cryptocurrencies in international payments and mentioned plans to issue comprehensive crypto regulations in 2024. The Russian government aims to discuss and potentially pass the law in March or April 2024, taking into account the interests of major players in the country's cryptocurrency market, including those involved in mining and circulation, who are reportedly ready to comply with regulations and pay taxes. (Source: en.bitcoinsistemi.com)

The International Organization of Securities Commissions (IOSCO) has issued nine policy recommendations on Dec. 19, aiming to promote greater consistency in regulatory oversight within and across jurisdictions. While the recommendations cover fundamental principles, such as enforcing applicable laws, their value lies in the detailed treatment provided for each. The guidance emphasizes assessing regulators' powers, tools, and resources, especially in emerging areas like decentralized finance (DeFi), to address potential regulatory evasion strategies by market participants. (Source: Cointelegraph)

Chainlink has announced strategic initiatives to bridge the gap between traditional finance (TradFi) and blockchain technology. The crypto oracle provider plans to expand the Cross Chain Interoperability Protocol (CCIP) for seamless cross-chain transactions, supporting the virtual tokenization of Real World Assets (RWAs). Chainlink also introduced Chainlink Data Streams, providing low-latency data to decentralized applications (dApps), and Chainlink Functions, allowing smart contracts to connect to any API for enhanced utility and customizability. (Source: Cryptopolitan)

China's General Administration of Press and Publication (GAPP) has proposed guidelines for the online games industry, including a ban on converting in-game tokens to legal tender. The draft guidelines also suggest stricter regulations, requiring companies to obtain a license in China, store customer data for up to two years, ensure content compliance with national values, and eliminate opportunities for anonymous user registration. (Source: Coingape)

The Central Bank of Nigeria (CBN) has lifted banking restrictions on virtual asset service providers (VASPs) that were imposed in 2021. While banks in Nigeria are still prohibited from holding, trading, or transacting in virtual currencies, they can now facilitate crypto transactions under the new rules. The move provides legal recognition to VASPs under Section 30 of the Money Laundering Act of 2022, aligning with FATF regulations for mitigating money laundering and terrorism financing risks. (Source: Coindesk)

Bulgarian authorities have reportedly closed the money laundering investigation against crypto lender Nexo, citing a lack of evidence of criminal activity, tax offenses, or computer fraud by the company's executives. The investigation, which also looked into alleged tax offenses, banking without a license, and computer fraud, focused on four Nexo executives. The Prosecutor's Office stated that the products offered by Nexo do not constitute financial instruments. (Source: Coindesk)

Coinbase has obtained the Virtual Assets Service Provider (VASP) approval from the French regulator Autorité des Marchés Financiers (AMF). This approval enables Coinbase to offer cryptocurrency custody and trading services to both retail and institutional investors in compliance with French financial regulations and European Union laws. The company sees this as a significant milestone in its efforts to expand services across Europe. This announcement comes alongside Circle, another stablecoin issuer, also securing regulatory approval in France. (Source: Cryptopolitan)