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hot_img The Korea Exchange examines the technical feasibility of temporarily banning short selling and reducing price limits

According to the Korea Herald, the Korea Exchange conducted an internal review on July 29 regarding the technical feasibility and system requirements for a temporary ban on short selling and narrowing the price limit (currently at 30%) to address the recent severe fluctuations in the stock market. Sources familiar with the matter stated that "only technical feasibility was confirmed," and it was not a prerequisite for implementation, but rather a screening process during the review of available emergency measures.Recently, the South Korean stock market has continued to plummet, causing increasing damage to individual investors. During a meeting of the National Assembly's Administrative Committee, several lawmakers urged authorities to consider a temporary ban on short selling and to restart the Securities Market Stabilization Fund. A national petition to suspend short selling garnered over 10,000 signatures within two days of being made public. However, the ban on short selling conflicts with South Korea's goal of being included in the MSCI developed market index; a previous 17-month short selling ban from November 2023 to March 2025 had led to MSCI downgrading South Korea's market accessibility rating. The exchange's officials stated that they have not received any related requests from the government and have not formally discussed a short selling ban.

first_img The South Korean Financial Commission plans to submit a unified digital asset bill, while the opposition party is simultaneously pushing to abolish the cryptocurrency tax

According to Edaily, the Financial Services Commission (FSC) of South Korea plans to jointly draft a unified government bill for the "Basic Law on Digital Assets" with the ruling Democratic Party, covering the issuance and circulation of stablecoins, business rules for digital assets, exchange admission requirements, information disclosure, internal control, and system resilience standards. Currently, there are 10 related bills pending review in the National Assembly, but there has not yet been consensus on core disputes such as whether the issuers of won-pegged stablecoins must be bank holding companies and whether to impose shareholding restrictions on major exchanges. The FSC has not yet determined the submission date for the bill.Meanwhile, the opposition party's People Power Party lawmaker Song Yeon-sik submitted a proposal to abolish the cryptocurrency income tax amendment to the National Assembly's Finance and Economy Planning Committee for review on Wednesday. Additionally, a tax abolition petition supported by over 50,000 people is also expected to be submitted to the petition subcommittee. According to the current plan, starting from January 1, 2027, cryptocurrency transfers or lending income exceeding 2.5 million won per year will face a 20% income tax plus a 2% local tax. The government and the ruling party support the timely implementation, while the opposition party believes it is unfair to tax cryptocurrencies when most ordinary stock investors remain tax-exempt.

Gate GUSD's total subscription amount reached 217 million USD, and new users of the liquid US Treasury product can enjoy a limited-time 100% annualized return

According to official news, the total subscription amount for Gate GUSD has reached 217 million USD. The Gate GUSD current US Treasury product has been fully upgraded, allowing users holding GUSD to enjoy an annualized yield of 3.8%, with support for deposits and withdrawals at any time, and earnings distributed daily to the spot account or trading account. New users participating in the GUSD current US Treasury subscription can also enjoy a limited-time annualized yield of 100%. The GUSD current US Treasury supports subscriptions in USDT, USDC, and USD1, allowing users to obtain GUSD at a 1:1 exchange rate, and simultaneously enjoy the corresponding product earnings and GUSD current US Treasury earnings while participating in products like Launchpool and Pre-IPOs.In addition, Gate's 367th ANTFUN Launchpool is currently ongoing, where users can participate in staking using USDT, GUSD, or ANTFUN to share a reward of 3,756,574 ANTFUN. The current total amount of GUSD liquid staking is close to 50 million, with the GUSD pool APR at 4.09%. After adding the GUSD subscription earnings, the estimated combined APR reaches 7.89%. Additionally, the estimated annualized yield for the USDT pool liquid staking pool is 5.55%, and the estimated annualized yield for the ANTFUN exclusive staking pool is 87.20%.Gate has launched a no-loss quick redemption feature for GUSD. Users can redeem GUSD minted with USDT, USDC, or USD1 within the no-loss exit limit of the corresponding currency, enjoying real-time 1:1 crediting of the original currency without redemption fees, achieving a balance between earning income and flexible allocation of funds.

Governor of the Central Bank of Russia: The purchase limit for cryptocurrencies by non-qualified investors is aimed at protecting investors

The Governor of the Central Bank of Russia, Elvira Nabiullina, stated that Bill No. 1194918-8 distinguishes between qualified and non-qualified investors, and it is not only applicable to the cryptocurrency sector but is a common arrangement in regulation. Elvira Nabiullina mentioned that the scope for non-qualified investors is more limited because the government protects them through legislation to avoid risks they do not understand.She pointed out that the relevant measures also cover the crypto ecosystem, due to reasons including the volatility of the crypto market and the possibility that foreign digital assets may be seized due to their association with Russia. Bill No. 1194918-8 is expected to take effect on September 1 and will be implemented simultaneously with the launch of the digital ruble. The bill stipulates that the purchase limit for non-qualified investors in cryptocurrencies is 300,000 rubles, approximately $3,800, while the limit for qualified investors is ten times that amount.Elvira Nabiullina stated that the Russian crypto ecosystem remains open, and the repatriation and transfer of digital assets abroad are not restricted. She noted that investors will not be protected by Russian law after receiving relevant assets abroad, and any issues must be resolved within foreign jurisdictions.

BlackRock, Strategy, and others jointly established the Bitcoin Security Alliance, committing to provide $15 million in funding for core developers and quantum resistance research over the next three years

Nine financial institutions and Bitcoin companies announced the joint establishment of the Bitcoin Security Alliance, with founding members including Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity, Galaxy, and Strategy, covering the entire chain of institutions such as custody, trading, infrastructure, payments, and asset management.The alliance commits to providing a total of $15 million in funding over the next three years to support developers and researchers in the field of Bitcoin security, including long-term work to prepare Bitcoin for the future era of quantum computing. Each member independently decides which developers, researchers, or organizations to direct their funding towards. The daily operations of the alliance are coordinated on a voluntary basis by Brink Executive Director Mike Schmidt, with Brink being a nonprofit organization that funds Bitcoin open-source developers.The alliance clearly states that it does not formulate or direct Bitcoin protocols, does not express opinions on specific protocol changes, and does not represent Bitcoin or its developers—Bitcoin development continues to be carried out by a globally decentralized community of contributors. Its positioning is to emulate the model of industry organizations that have long supported open-source software, providing resources and attention to developers without controlling the underlying work.Strategy CEO Phong Le stated, "As long-term holders, ensuring the security of Bitcoin for generations is our greatest incentive"; BlackRock's Global Head of Digital Assets Robert Mitchnick pointed out that the work of Bitcoin core developers is "extremely important," and this commitment will provide "significant additional funding" for Bitcoin's long-term security needs. The alliance will also serve as a reliable source of information for investors, the public, and the media in the field of Bitcoin security, with plans to publish and continuously update materials related to Bitcoin security in the coming months.
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