- Chinese police are targeting Web3 co-founders for their wallets, raising concerns about the safety of private keys.
- The closure of China’s largest cross-chain protocol, Multichain, after the arrest of its CEO, Jun Zhao, by Chinese police in May.
- An ongoing case involving the founder of CoinXP blockchain, Liang Liang, who raised 13,000 Ether and was subsequently arrested by Chinese police.
- The trial of Liang Liang, which has raised concerns about the fairness of the legal process.
China’s bullish stance on blockchain technology, as demonstrated by regional initiatives and the development of central bank digital currencies.
Korean regulators mandate insurance for crypto exchanges
The Korean Federation of Banks has announced that crypto exchanges must accumulate a reserve of 3 billion won to fulfill liabilities to users.
First regulated Malaysian digital assets fund launches
Halogen Capital becomes the first regulated digital assets fund in Malaysia, offering Shariah law-compliant Bitcoin and Ethereum funds.
Authors: Zhiyuan Sun