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Wall Street clearing giant DTCC is collaborating with multiple Layer 1s to push corporate actions such as dividends on-chain

DTCC (Depository Trust & Clearing Corporation) CEO Frank La Salla stated that the company is collaborating with multiple high-performance Layer 1 blockchains to explore migrating complex corporate actions such as dividend payments and tender offers to on-chain processing.La Salla mentioned at the Consensus 2026 conference that most blockchains still lack efficiency in handling corporate actions, while DTCC needs to process millions of dividend payments daily, thus requiring support from Layer 1 networks with high throughput and stability. DTCC is one of the core infrastructures of the U.S. capital markets, handling approximately $20 trillion in U.S. Treasury and securities transactions daily. The organization plans to launch a tokenized securities platform test in July this year, aiming for a broader rollout in October.La Salla believes that "tokenized collateral" could become the first large-scale institutional application scenario for blockchain. In the future, Asian institutions could even access dollar liquidity in real-time through on-chain collateral during New York's Sunday hours. However, he also warned that blockchain still faces issues such as scalability, liquidity fragmentation, and risk management, especially the efficiency of "net settlement" in traditional financial systems, which remains difficult to replicate in a decentralized environment.

The South Korean cryptocurrency industry collectively opposes the new anti-money laundering regulations, planning to require all overseas transfers of over 10 million won to be reported as suspicious transactions

According to Cointelegraph, the South Korean crypto industry group DAXA (Digital Asset Exchange Alliance), representing 27 registered virtual asset service providers (VASP), has submitted objections to the Financial Services Commission (FSC) and the Financial Intelligence Unit (FIU) regarding the proposed amendments to the implementation order of the Specific Financial Information Act.The new regulations aim to require domestic VASPs to report any virtual asset transfers with foreign VASPs as suspicious transaction reports (STR) if the amount reaches 10 million won (approximately $6,800), regardless of the risk level. DAXA warned that this would cause the annual reporting volume of South Korea's five major trading platforms (Upbit, Bithumb, Coinone, Korbit, Gopax) to surge from about 63,000 last year to over 5.4 million, making compliance practically impossible.The industry also opposes the proposed requirement to verify the accuracy of customer information, arguing that the subordinate rules impose obligations not clearly defined by law. This industry backlash comes as exchanges face sanctions from financial regulators in court. On April 9, the court ruled to lift part of the business suspension against Upbit operator Dunamu, but the regulators have appealed. On April 30, the court suspended the six-month partial business suspension against Bithumb. Coinone also received a temporary stay of execution.The public consultation period for the new regulations ends on May 11, and it is expected to be finalized in July after regulatory and legal reviews. This highlights the tension between South Korea's tightening of crypto anti-money laundering regulations and the industry's concerns about excessive compliance burdens.
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