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  • 23:12
    The US FDIC proposes rules to establish a stablecoin application framework to advance the implementation of the GENIUS Act.
    ChainCatcher news, according to The Block, the U.S. Federal Deposit Insurance Corporation (FDIC) is moving forward with implementing parts of the stablecoin bill that became law this summer.
  • 23:07
    US FTC orders Nomad operators to compensate users $186 million after 2022 crypto bridge hack
    Jinse Finance reported that the U.S. Federal Trade Commission (FTC) stated on Tuesday that it has proposed a settlement to Nomad cryptocurrency bridge operator Illusory Systems Inc., related to the 2022 hacking incident that resulted in nearly all funds on the platform being stolen. According to the proposed settlement, Illusory will be prohibited from misrepresenting its security measures and will be required to implement a formal information security program, undergo independent security assessments every two years, and return any recovered funds not yet reimbursed to affected users. The agency stated that the breach resulted in the theft of approximately $186 million in digital assets, causing losses of over $100 million to consumers.
  • 23:00
    South Korean audit finds over $15 million in relief funds mistakenly issued to crypto investors
    Jinse Finance reported that South Korean audit authorities have discovered that approximately 269 individual crypto traders received a total debt reduction of over $15 million from the government’s “New Start Fund” established for small and medium-sized enterprises after the pandemic. Among them, one beneficiary, after receiving a $62,000 reduction and a 77% debt cut, still held about $307,000 in crypto assets. Regulators stated that under the current system, it is difficult to verify crypto assets unless voluntarily declared. Legislative amendments have already been promoted, aiming to grant Korea Asset Management Corporation (KAMCO) the authority to inquire about beneficiaries’ unlisted stocks and crypto assets without consent, in order to prevent similar situations from occurring again.
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