THE HASH: South Korean Prosecutors Reportedly Freeze $39.6M in Crypto Owned by Do Kwon; Global CBDC Framework

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4.7 • 698 Ratings

🗓️ 5 October 2022

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by ZenGo. The most valuable crypto stories for Wednesday, Oct. 5, 2022. Prosecutors in South Korea have frozen 56.2 billion won ($39.6 million) of cryptocurrency assets belonging to Do Kwon, CEO of Terraform Labs, the firm behind the failed Luna stablecoin project, according to Korean media outlet News1. The “Hash” hosts discuss this, plus the European Union (EU) is proposing new sweeping legislation for crypto wallets and exchanges, basically setting standardization across the block. Also, SWIFT says it has proved it can be the way forward for global central bank digital currencies (CBDCs). See also: South Korean Prosecutors Freeze $39.6M in Crypto Owned by Terraform’s Do Kwon: Report SWIFT Says It's Proved It Can Be the Way Forward for Global CBDCs EU Seals Text of Landmark Crypto Law MiCA, Fund Transfer Rules - This episode has been edited by Michele Musso. Our executive producer is Jared Schwartz. Our theme song is “Neon Beach.” ZenGo crypto wallet is an on-chain crypto wallet with no private key vulnerability, leveraging advanced cryptography called MPC. Get started at ZenGo.com/HASH and use code HASH to get $20 back on your first purchase of $200 or more. Terms and conditions apply. See site for details. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	This episode is sponsored by Zengo.
0:10.3	This is the hash podcast.
0:13.0	Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more,
0:18.0	with stories that matter to the crypto world, all on the hash for your ears.
0:23.8	You're listening to the Coin Desk Podcast Network.
0:28.5	Hello, happy Wednesday, and welcome to the hash.
0:31.6	I am Zach Seward.
0:32.6	That is Wendy O.
0:34.0	That is Jen Sanasi.
0:35.6	That is Will Foxley.
0:36.7	And he is going to start us off today to get you up to speed on the latest in crypto news. Will Foxley, take it away, sir.
0:45.8	That's right. I'm back. You know, we got regulation news, guys. This is big stuff. And unfortunately, it's on the United States, but at least we have some clarity, right?
0:55.3	EU is proposing new legislation, sweeping legislation for crypto wallets and exchanges, basically
1:01.5	setting standardization across the block for what cryptocurrencies should be used for, how they should
1:07.2	be standardized, how they should be backed, do they need to be, like, how do
1:11.2	stable coins interact with public wallets? How do they interact with public markets?
1:15.7	This is big stuff and stuff we've really wanted in the United States for quite a while.
1:19.1	It's interesting to see the EU get there first. Of course, this has not passed yet. It's just
1:22.9	agreed upon legislation. Every single member of the EU has to agree on this legislation before it goes
1:29.1	into law, and that can take quite a while since there's so many sovereign nations within the EU
1:33.7	block. This legislation still has to be voted on, the EU Parliament, and from there, it will take a while
1:38.9	to be enforced. So we're not looking at anything going forward until 2024. But the biggest hurdle does seem to be passed,
	...

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