Blockchain
New Virtual Asset Law Implemented by South Korea
The South Korean Financial Services Commission (FSC) will implement a new Virtual Asset Law by July 19, requiring 29 registered crypto exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, to regularly assess the compliance and security of tokens listed on their platforms. This measure aims to protect virtual asset users.
Key Features of South Korea’s New Crypto Regulations
The new law, as reported by The Korea Times, introduces criminal penalties and fines for non-compliance. Offenders may face over one year in jail or fines ranging from three to five times the illicit profits gained. All registered exchanges must review more than 600 tokens on their platforms to ensure they meet the new standards.
Enhanced Review Process for Crypto Exchanges
The legislation mandates exchanges to conduct comprehensive reviews of their tokens every six months, with follow-up evaluations every three months to maintain compliance. This frequent monitoring is intended to uphold the integrity of the crypto market.
Additional Regulatory Measures and New Bureau
The FSC is also developing further guidelines for crypto transactions and has announced the establishment of a new bureau dedicated to virtual assets. This bureau will oversee the regulatory framework, enhancing the efficiency of the cryptocurrency industry’s management. A proposal for this new bureau is set for introduction on June 17 and review by June 18.
Source: coinchapter.com
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Blockchain
Bybit Invites Traders to Embark on a Token Treasure Hunt
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Blockchain
India Electronic Contract Services Market to Worth Over US$ 624.33 Million By 2033 | eSignature Demand Among Financial Institutes to Remain High Says Astute Analytica
Blockchain
UNICC and ShelterZoom Developed a Secure Document Tracking and E-Signature Solution for the UN System
The United Nations International Computing Center (UNICC) and ShelterZoom are pleased to announce a new innovative blockchain-based solution for controlling and protecting the digital data of UN entities and other international organizations. As the largest strategic partner for digital solutions and cybersecurity within the UN system, UNICC has partnered with ShelterZoom, a leading data and content protection and ownership SaaS company behind innovations such as Document Token® technology and Document GPS®.
Building upon the 50 years of experienced innovation from the UNICC, the two organizations collaborated on a transformational undertaking offering robust protection and promising increased productivity for document tracking and management. ShelterZoom will contribute its proprietary document tokenization technology, along with its data protection, document tracking and e-signature solutions to deliver a white-labeled platform, giving member organizations a greater level of governance over their content. Using ShelterZoom’s flagship proprietary Single Source Of Truth® technology, the solution provides a means for each file to be protected individually without changing user normal habits instead of having to rely solely on protecting files at the database level. This ‘singularity and control’ is a new era in cybersecurity and document management, which has never been seen before at this level of seamless integration with existing tools.
“The synergy between what we deliver and the goals of the United Nations are a perfect match for Single Source Of Truth,” said Chao Cheng-Shorland, CEO and Cofounder of ShelterZoom. “We have said from the beginning that it is time to think about cybersecurity in a completely new way and in doing so we have created a solution to address other operational pain points while simultaneously solving one of the biggest challenges facing the global population today. The UN is at the frontlines of changing the world for the better and its forward-thinking approach to using technology to address fundamental issues is critical in improving livelihoods for all.”
ShelterZoom solutions have already been in use across dozens of industries and with this new commercial partnership, they can now extend their usefulness to the UN family and other international organizations. The revolutionary method for complete document tracking with built-in productivity tools, such as digital signatures and a market-first method for organizing files inside email, is an all-in-one solution built for a global workforce. The Single Source of Truth model has the added benefit of decreasing the carbon footprint created by excessive digital waste, further supporting the sustainability goals of the United Nations.
“The need for robust cybersecurity and data protection has never been greater,” said Sameer Chauhan, Director of UNICC. “By working together with ShelterZoom, we have developed a cutting-edge tool tailored to the needs of the UN family. Our unwavering commitment to providing best-in-class solutions ensures we continue to support the digital transformation and modernization of the UN system and other international organizations.”
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