4h ago
South Korea to Require Identity Verification for All Crypto Transfers
South Korea will mandate identity checks on all cryptocurrency transactions regardless of amount, eliminating the current 1 million won reporting threshold. The Financial Services Commission announced citizens will be barred from sending funds to foreign exchanges flagged for money-laundering risks. Executives at crypto firms will face enhanced eligibility screenings, including automatic disqualification for prior convictions related to drugs, tax evasion, or other serious offenses.
4h ago
4h ago
CME Suspends Futures Trading for 10 Hours After Aurora Data Center Cooling Failure
The Chicago Mercantile Exchange suspended futures trading for approximately 10 hours on Friday following a cooling system malfunction at its Aurora, Illinois data center operated by CyrusOne. The outage affected equities, commodities, currencies, energy, and cryptocurrency markets during the post-Thanksgiving Asia session when U.S. markets were closed and liquidity was thin. CME restored full functionality around 1:30 p.m. UTC.
4h ago
4h ago
Coinbase Calls on CFTC to Update Crypto Rules for DeFi and Stablecoins
Cryptocurrency exchange Coinbase has submitted formal recommendations to the Commodity Futures Trading Commission requesting updated regulatory frameworks for digital assets. The submission addresses decentralized finance oversight, stablecoin collateral use, and standards for integrated trading platforms. Coinbase argues that current U.S. rules do not reflect the structure of modern crypto markets and proposes practical oversight measures that balance innovation with investor protection.
4h ago