Cryptocurrency industry representatives requested that South Korea's Financial Services Commission ease limits on arbitrarily halting customer withdrawals when a different exchange is hacked

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South Korea's Virtual Asset User Protection Act took effect on July 19, 2024, mandating that exchanges keep at least 80% of customer crypto assets in offline cold storage

Officials at the November 2, 2026 emergency meeting called by South Korea's Financial Services Commission reviewed access controls for IT systems, withdrawal signing arrangements for hot wallets, and administrator privileges across domestic exchanges

South Korea's Financial Services Commission plans to review easing rules on arbitrary withdrawal blocks so cryptocurrency exchanges can restrict withdrawals quickly when a different exchange is hacked

ZIP 2003 states that the Zcash NU7 network upgrade at block height 3,543,405 will disable version 4 transactions, rendering unmigrated funds in the Sprout privacy pool unspendable

On November 2, 2026, Financial Services Commission Director General Yoo Young-jun led an emergency meeting with major crypto operators, the Financial Supervisory Service, and the Financial Security Institute

During the November 2, 2026 emergency meeting called by South Korea's Financial Services Commission, South Korean regulators urged exchanges to increase cold-wallet holdings, monitor transfers continuously, add response staff, report abnormal access, and build extra reserves

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South Korea's Financial Services Commission asked domestic exchanges to strengthen cold-wallet safeguards and financial reserves after the $6.34 billion hack of Binance, and Binance is named as the exchange whose hack prompted the request

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Hong Kong's Legislative Council passed the Inland Revenue (Amendment) (Crypto-Asset Reporting Framework and Amended Common Reporting Standard) Bill 2026

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Digital Asset requested no-action relief for Canton Coin in a letter to the SEC

Hong Kong officials introduced the Inland Revenue (Amendment) Bill 2026's reporting rules to strengthen the city's standing as an international financial center while accommodating crypto sector growth

Reporting crypto-asset service providers linked to or operating in Hong Kong must register, conduct customer due diligence, and file annual reports with the Inland Revenue Department

The Inland Revenue (Amendment) Bill 2026 applies broadly to any service provider operating in Hong Kong meeting the definition of a reporting crypto-asset service provider (RCASP) without singling out specific platforms or tokens

The Hong Kong government adopted the OECD standards to prevent digital asset tax evasion following feedback from OECD peer reviews

The Inland Revenue (Amendment) Bill 2026 amends Hong Kong's existing Common Reporting Standard provisions governing international financial account information sharing

SEC Deputy Chief Counsel Jonathan Ingram noted the Canton Coin no-action letter represents a staff enforcement position based on specific facts, not a binding legal conclusion or legal ruling on Canton Coin's security status

The SEC's Division of Corporation Finance issued a no-action letter to Digital Asset stating it will not recommend enforcement action regarding the programmatic issuance of Canton Coin without securities registration

The SEC staff classified Canton Coin as a digital commodity, citing Canton Network's lack of a central controlling party to drive value and automated network operation and supply-and-demand dynamics rather than third-party managerial profit expectations

The Inland Revenue (Amendment) Bill 2026 mandates transaction data collection for existing tax compliance without introducing any new crypto taxes

Digital Asset highlighted in its October 30, 2026 letter to the SEC that Canton Coin had no pre-mine, initial coin offering, or pre-launch token sale prior to entering circulation

Digital Asset argued in its SEC submission that Canton Network's burn-and-mint model ties token value to actual network usage rather than speculative investment expectations