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profession

The South Korean National Tax Service plans to select a professional custody company in the first half of the year to manage seized virtual assets

According to ZDNET, the Korean National Tax Service plans to select a private custody company in the first half of the year to manage seized virtual assets.Previously, the National Tax Service leaked mnemonic phrases when announcing the results of on-site searches of delinquents, leading to the theft of seized virtual assets twice. As a result, it was decided to shift from self-custody to entrusting professional custody companies. The National Tax Service will select custody companies based on criteria such as security requirements, company size, and whether they are insured according to the "Virtual Asset User Protection Act."The relevant work will be handled by the "Virtual Asset Management System Upgrade Task Force," which was established on the 11th of this month. This task force also plans to improve the comprehensive workflow manual for the entire process of seizure, custody, and sale, and to expand professional training. The National Tax Service is also preparing to establish a new "Digital Asset Management Division," which will be responsible for the seizure, custody, sale, and taxation of virtual assets. The head of the task force stated that this is a method mainly adopted by developed countries and will be implemented in the first half of the year after consulting with experts.

The Hong Kong Securities and Futures Professionals Association calls for a suspension of the enforcement of virtual asset practitioner examination requirements through covert policy measures

According to a report by Hong Kong media Orange News, the President of the Hong Kong Securities and Futures Professionals Association, Chen Zhi-hua, disclosed that the Hong Kong virtual asset industry is facing a sudden "compliance storm." Practitioners in related businesses have reported encountering bewildering regulatory requirements during the application process for virtual asset-related business qualifications. The existing written policy requires an additional 5 hours of Continuing Professional Training (CPT).However, the latest requirements were not issued through formal written documents or public guidelines, but were communicated "quietly" to license upgrade applicants in the form of verbal notifications or individual emails, stating that all responsible officers (RO) for relevant license upgrades, including those who have already obtained upgrade qualifications, must pass a virtual asset regulation exam conducted by a designated single institution. This nearly "invisible" directive undermines the transparency and fairness that regulatory agencies should uphold.Chen Zhi-hua suggested maintaining the original requirement of an additional 5 hours of Continuing Professional Training (CPT) and urged regulatory agencies to immediately suspend the enforcement of exam requirements through invisible policies.

Analysis: Industry professionals express dissatisfaction with the CLARITY Act, criticizing excessive concessions to traditional financial institutions

The Senate Banking Committee has canceled the scheduled hearing on Thursday for the CLARITY Act (the Crypto Market Structure Act) revisions. According to crypto journalist Eleanor Terrett, dissatisfaction among industry players erupted this Wednesday, with Coinbase leading the way in announcing its withdrawal of support for the bill. They complained that lawmakers made excessive concessions to banks and traditional financial institutions after proposing amendments to a lengthy 278-page bill, particularly regarding stablecoin yields and tokenization.Critics argue that the CLARITY Act itself is already biased in favor of traditional institutions. Meanwhile, some Democrats insist on establishing ethical standards for senior government officials, including the president, to prohibit them from profiting from cryptocurrency projects. Democrats have previously been at an impasse with the White House on this issue.Currently, Banking Committee Chairman Tim Scott stated in a statement announcing the postponement of the meeting that "everyone is still working sincerely at the negotiating table," but did not reveal when the committee would reschedule the review. The Senate will be in recess next week for Martin Luther King Jr. Day and will reconvene the following week. During that time, the Senate Agriculture Committee is expected to hold a review, which had also been postponed from this Thursday.

The Gate 2025 Annual Report outlines the panoramic view of the professional fund ecosystem, with breakthroughs in both the VIP service system and institutional business

According to Gate's 2025 annual report, it comprehensively showcases the progress made in upgrading its VIP service system and expanding institutional business. In 2025, Gate continued to expand its service layout aimed at institutions, high-net-worth, and VIP clients. As an important part of the platform's user experience strategy, the VIP service system has evolved from a single fee discount to a more complete professional support and asset management capability. In response to the needs of high-end users, Gate launched several exclusive features such as Gate Vault, VIP-exclusive wealth management, and private wealth management, gradually building a multi-dimensional VIP service system covering trading experience, asset allocation, and security assurance.In terms of institutional business, Gate achieved multiple key growth indicators in 2025: the institutional contract trading volume increased by 34.29% year-on-year, market share rose by 101.11%, and the number of institutional users grew by 69.29% year-on-year. On this basis, Gate launched the industry's first Web2/Web3 interconnected ecological product suite, Gate SuperLink, which systematically connects fiat currency, crypto assets, and traditional finance through a modular service system. Among them, OES has integrated with leading global custodians such as BitGo, Copper, and Fireblocks, achieving significant growth in related account balances, spot trading volume, and contract trading volume by 46 times, 1,058 times, and 39 times, respectively, compared to the beginning of the year. The CrossEx one-stop trading and clearing platform supports margin sharing and unified clearing across multiple mainstream exchanges, significantly enhancing capital utilization efficiency; the Bank Custodial Trading Mode is the industry's first and only model that allows high-net-worth and institutional clients to fully control their fiat assets in independent bank custody accounts, with one-click direct access to all trading and financial services on CEX. Overall, Gate is gradually strengthening its comprehensive service system for professional funds and long-term users through the synergistic upgrade of high-end customer service capabilities and institutional-level infrastructure.
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