Nigeria advances a regulatory framework for cryptocurrency to boost transparency and innovation. Meanwhile, African leaders discuss leveraging diaspora remittances as investment capital, and Bukavu enterprise Joella turns organic waste into livestock feed.
Nigerian President Bola Ahmed Tinubu signed an executive order to harmonize digital asset regulation, establish a virtual asset council, and update tax policies. This aims to protect citizens from fraud, safeguard financial integrity, and enable responsible innovation amidst strong digital asset adoption.
South Korea's financial authorities investigated over 40 cases of unfair crypto trading, including market manipulation and fraudulent activities, in the last two years. Since the Virtual Asset User Protection Act took effect in July 2024, 30 cases were reported to investigative agencies, leading to 25 identified suspects and average unlawful gains of ₩1.4 billion.
South Korea's FSS has initiated sanctions procedures against Dunamu, operator of crypto exchange Upbit, following a $36 million hack reported in November 2025. The regulator is reviewing potential violations of the Virtual Asset User Protection Act and plans to address regulatory gaps.
The Enforcement Directorate (ED) has filed a 3,500-page charge sheet against hacker Srikrishna Ramesh alias Sriki, crypto trader Robin Khandelwal, and businessman Sunish Hegde for their alleged roles in a sophisticated network involving hacking, darknet operations, cyber extortion, and cryptocurrency laundering.
Dubai's Virtual Assets Regulatory Authority (VARA) has issued its 50th license to a virtual asset service provider (VASP), granting it to tokenization platform Tribe Tokenisation FZE. This milestone highlights Dubai's efforts to become a global crypto hub, surpassing Hong Kong and Singapore in total VASP licenses, though operational status and business volume vary.
South Korea's financial watchdog urged virtual asset market operators to strengthen internal controls and monitoring systems to regain market confidence and protect customers amid a slump in the first half of the year.
Chinese police have published a detailed technical report revealing their sophisticated forensic tools and methods for tracking, seizing, and freezing illicit cryptocurrencies like Bitcoin and Ethereum, which are banned in China but favored by criminals for scams and money laundering.
Taiwan's Legislative Yuan approved the Virtual Asset Service Act, transitioning crypto firms from AML registration to full financial supervision. The law sets standards for service providers, stablecoin issuers, and imposes strict penalties for non-compliance.
The Financial Intelligence Unit (FIU) warned of the rapid increase in illegal virtual asset handlers operating through social media, urging caution for investors. These unregistered entities, unlike the 28 officially registered businesses, pose risks of fraud, data breaches, and difficulties in seeking compensation for damages, with fees potentially up to 62 times higher than legitimate exchanges.
Binance has released guidelines for the use of AI agents in the virtual asset market, emphasizing the need for human oversight due to AI's limitations like hallucinations and potential security risks such as prompt injection and phishing.
South Korea's financial authorities will allow virtual asset service providers (VASPs) to manage their own anti-money laundering (AML) risk for overseas transactions exceeding 10 million won, instead of mandatory reporting to the Financial Intelligence Unit (FIU). The revised rules, effective August 20, also ease customer verification and overseas cloud usage for VASPs.
The Financial Services Commission's Financial Intelligence Unit (FIU) met with virtual asset exchange representatives to gather feedback on proposed amendments to the Special Financial Information Act (SFIA) enforcement decree. The industry expressed concerns about mandatory suspicious transaction reporting for all transactions over 10 million won, and the FIU is considering alternative solutions.
The National Election Commission has revised the declared assets of Incheon mayoral candidate Yoo Jeong-bok after allegations of omitting virtual assets. The total assets increased by approximately 78 million won.
Vietnam's Ministry of Finance proposed allowing SMEs to use digital assets, virtual assets, and intellectual property as collateral for bank loans, aiming to boost credit access for startups and tech companies.
Aave Labs' UK subsidiaries received FCA cryptoasset registration, complementing its Irish license. This enables zero-fee fiat-to-stablecoin services via the Push protocol, designed as a regulated gateway to Aave's lending market.
Ahead of the June 3 local elections, a political dispute has intensified over allegations that the spouse of People Power Party's Incheon mayoral candidate Yoo Jeong-bok failed to report virtual assets. The opposition Democratic Party has filed a police complaint, calling it "intelligent asset concealment."
The Democratic Party is intensifying its attack on Yoo Jeong-bok, the People Power Party's candidate for Incheon Mayor, over alleged omission of virtual assets in his property declaration. They released a voice recording of Yoo's spouse, urging an immediate investigation and resignation.
Kraken's parent company, Payward, received preliminary authorization from Dubai's Virtual Asset Regulatory Authority (VARA) to offer virtual asset services to retail and professional investors in the emirate.
Crypto.com secures a Stored Value Facilities (SVF) license from the UAE Central Bank, becoming the first crypto platform to offer regulated digital asset payment services, including for government fees, bolstering Dubai's cashless economy goals.
Brazil's central bank has published Resolution BCB No. 561, prohibiting virtual assets in cross-border eFX payments. The rule requires payments between eFX providers and foreign counterparties to use only foreign exchange transactions or non-resident Brazilian real accounts. The restriction applies to eFX providers not yet approved, who must apply for authorization by May 31, 2027. The resolution does not ban crypto transfers outright but closes the regulated eFX channel to crypto and stablecoins, addressing concerns that 90% of crypto flows are linked to stablecoins.
