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East Asia

Vietnam’s crypto adoption: Factors driving growth in Southeast Asia

Vietnam has the highest crypto adoption rate in the world. There are numerous factors driving the trend. ANALYSIS   The Southeast Asian nation of Vietnam now ranks among the top nations adopting cryptocurrencies. Indeed, the country has ranked first on Chainalysis’ Global Crypto Adoption Index for two years in a row. Chainalysis’ research methodology took into account …

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South Korean gov has confiscated 260B KWR in crypto for non-payment of taxes since 2021

The country began seizing crypto to offset tax arrears last year. NEWS   According to local news outlet mk.co.kr, the South Korean government has seized over 260 billion Korean won ($180 million) worth of cryptocurrencies in the past two years due to tax arrears. The country’s politicians enacted regulations allowing for the seizure of digital currencies for …

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Singapore’s DBS commits to crypto offerings despite slump: report

Singapore’s DBS commits to crypto offerings despite slump: report

Singapore’s largest bank, DBS, aims to expand its cryptocurrency and digital assets offerings to 300,000 new clients in the face of the crypto bear market, according to a Financial Times report on Tuesday. Fast facts In an interview, DBS CEO Piyush Gupta said recent losses incurred by retail investors in the crypto market crash highlight …

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SK Telecom’s Ifland metaverse adds cashable in-app economy

SK Telecom’s Ifland metaverse adds cashable in-app economy

The Ifland metaverse, run by South Korean telecommunications giant SK Telecom (SKT), is allowing users to earn money by hosting meetups in the virtual world, the company announced Monday. Fast facts SKT has adopted an “ifland point” system to usher in its metaverse economy — any Ifland users can earn points by logging in at a …

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Dubai Virtual Assets Regulator Establishes HQ in the Metaverse

Dubai Virtual Assets Regulator Establishes HQ in the Metaverse

The Dubai virtual assets regulator, the Virtual Assets Regulatory Authority (VARA), has established its metaverse headquarters in The Sandbox virtual world. By establishing a presence in the metaverse, the regulator said it hopes to make itself accessible to all stakeholders. World’s ‘Virtual Assets Capital’ Dubai’s digital assets regulator, the Virtual Assets Regulatory Authority (VARA), has …

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Dubai Regulator Establishes Virtual HQ in the Sandbox Metaverse

Dubai Regulator Establishes Virtual HQ in the Sandbox Metaverse

The Emirate’s Virtual Assets Regulatory Authority (VARA), Dubai’s new cryptocurrency regulator, announced on Tuesday that it has created a virtual headquarters in The Sandbox metaverse platform. The Sandbox is a platform linked to the Ethereum-based blockchain in which users can purchase and sell play games, plots of land, and earn digital currency. Sebastien Borget, COO …

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