News roundup for the previous week!
✅ The United Kingdom approves a law on cryptocurrency and stablecoin regulation
Since June 20, digital assets are classified as regulated financial activities in the United Kingdom. This law was developed to adapt the regulation of financial services to the unique needs of the British market and takes advantage of opportunities arising from Brexit. Its main objective is to enhance the competitiveness of the United Kingdom as a global financial center, while improving outcomes for consumers and businesses.
✅ South Korea's cryptocurrency bill aims to protect investors
On Friday, June 30, South Korea passed a bill on digital assets to protect investors. The Financial Services Commission gains authority to supervise cryptocurrency operators and asset custodians. The Bank of Korea also has the right to inspect such platforms. Additionally, the law requires the presence of insurance coverage, reserve funds, and necessary documentation. The rules apply to assets such as Bitcoin, while the existing capital market laws apply to tokens considered securities.
✅ Belarus to prohibit cryptocurrency exchanges between individuals
The Ministry of Internal Affairs of Belarus is preparing amendments to legislation to prohibit cryptocurrency exchanges between individuals due to increased cases of fraud. According to law enforcement officials, through exchange operations, criminals "convert stolen funds into cash, transfer monetary amounts to organizers or participants of criminal schemes." For transparency and control, citizens will only be allowed to conduct exchange financial transactions with cryptocurrencies through the High Technologies Park exchanges.
✅ Hackers stole $656 million worth of cryptocurrencies in the first half of 2023
The total value of cryptocurrencies lost due to scams, hacks, and thefts in the first half of 2023 amounts to $656 million. Hackers carried out 108 attacks on protocols, 110 attacks on mining pools, and several phishing scams, resulting in $471.43 million, $75.87 million, and $108 million being appropriated, respectively.
✅ Elon Musk limits the number of tweet views for users
Now, a typical account will not be able to view more than 600 tweets per day. The owner of Twitter claims that this is necessary to reduce the system's load. Specifically, the measures include:
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