iamgideon on Nostr: Asian nations, particularly Japan and South Korea, are intensifying efforts to ...

Asian nations, particularly Japan and South Korea, are intensifying efforts to enhance oversight and consumer protection in the cryptocurrency market. Japan's Financial Services Agency (FSA) proposes measures to prevent "unlawful transfers" to crypto exchanges, potentially impacting peer-to-peer transactions. South Korea's Financial Intelligence Unit (FIU) plans to tighten scrutiny by implementing a pre-emptive trading suspension system for suspicious transactions and expanding its crypto team. Meanwhile, the European Parliament moves forward with the AI Act, aiming to regulate artificial intelligence across various sectors and establish safeguards against potential threats to citizens' rights.