misha

According to Decrypt, South Korean Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho has pledged to undertake a comprehensive reform of the way public institutions handle digital assets.A series of previous incidents have exposed weaknesses in the government's custody and oversight of seized cryptocurrencies. Choo stated that he would collaborate with institutions such as the Financial Services Commission and the Financial Supervisory Service to examine the current status and management practices of digital assets held and managed by the government and public institutions through measures such as seizures, and to swiftly take action to enhance the security of digital assets to prevent similar incidents from occurring again. He emphasized that the digital assets held by the government are limited to those obtained through legal enforcement measures such as tax seizures or criminal investigations.

According to South Korea's Chosun Ilbo, due to the recent incident involving the erroneous distribution of 620,000 bitcoins by Bithumb, Korean banks that have real-name account partnerships with it and other exchanges are taking a cautious approach to contract renewals to mitigate potential reputational risks.The contract between KB Kookmin Bank, which signed a real-name account agreement with Bithumb, is set to expire next month, and it is currently requesting Bithumb to strengthen its internal audits. Additionally, K Bank (partnering with Upbit, with a contract expiring in October) and Kakao Bank (partnering with Coinone, up for renewal in the third quarter) are also closely monitoring the situation and conducting a comprehensive assessment of the renewal matters.Previously, on February 6, Bithumb planned to distribute a total of 620,000 won in rewards to event winners but mistakenly issued 620,000 bitcoins (worth approximately 62 trillion won) due to a unit input error. Although Bithumb canceled the payment of 618,100 bitcoins before the transaction was recorded on the blockchain, 1,788 bitcoins were still actually distributed.

ChainCatcher News, SEC Chairman Gary Gensler faced criticism from lawmakers during yesterday's hearing for his handling of the Digital Licensing Inc. (also known as Debt Box) case. Republican Whip Tom Emmer accused the SEC of overregulation, claiming that it froze Debt Box's assets based on misinformation, resulting in approximately $1.8 million in sanctions against the SEC by the court.Gary Gensler acknowledged that the situation was "handled poorly" and expressed his frustration with Emmer's continued urging for the agency to regulate digital assets.

ChainCatcher message, Ethereum co-founder Vitalik Buterin posted on the Warpcast platform, "I don't have my own dog, and my family doesn't either, we only have cats."Vitalik's pet dog namesake Meme coin MISHA briefly dropped over 50%, currently priced at $0.0000158.

ChainCatcher news, the blockchain-based digital asset management platform LumiShare (formerly IllumiShare) has completed a $3.2 million financing round, led by the Abu Dhabi royal family, with participation from several private investors.It is reported that LumiShare's token SRG aims to provide consumers with reliable inflation hedging and financial security, supported by three unrelated assets (gold, cash, and technical means such as staking and burning). LumiShare offers investors an extreme "proof of reserve" solution by storing gold reserves in a secure room at a bank in Abu Dhabi and live streaming 24/7. (source link)