);)
A cryptocurrency custody institution announced the launch of a stablecoin issuance platform in the United States and supports the issuance of Etena's USDtb as its first partner on the 25th. Reflecting the GENIUS Act signed by President Donald Trump in July, the issued stablecoin will comply with the new regulations.
2. WOO X Suspends Withdrawals Due to $14 Million Hack on July 25
Cryptocurrency trading platform WOO X temporarily suspended withdrawals on the 25th after approximately $14 million (about 19.12 billion won) of cryptocurrency was leaked due to a security breach. The damage was limited to nine user wallets, and the platform has blocked most withdrawals and plans to fully compensate the affected accounts.
3. Hong Kong to Criminally Prosecute Unauthorized Stablecoin Promotion from August 1
Starting August 1st, Hong Kong will define unauthorized stablecoin advertising as illegal, introducing fines up to 50,000 Hong Kong dollars (about 8.76 million won) and up to 6 months in prison for violations. The Hong Kong Monetary Authority stated that the purpose is to protect investors and calm market overheating on the 25th.
Reporter Jung Ha-yeon yomwork8824@blockstreet.co.kr
