bloomingbit

Lucent Block holds press conference on fractional-investment licensing
CEO Heo Se-young says the number of licensed firms was capped without a formal vote
Company disputes rejection reasons including capital and governance
“Give us a chance to compete through additional licenses”
Lucent Block, which failed earlier this year to win preliminary approval for a fractional-investment (STO) over-the-counter exchange, alleged that the Financial Services Commission’s licensing process was unfair and opaque. The company argued that the FSC capped the number of licensed operators at two without a formal resolution.
At an emergency press conference held on Oct. 27 at Maru180 in Seoul’s Gangnam district, Chief Executive Officer Heo Se-young called for additional licenses to guarantee a fair chance to compete. He said the company was not seeking preferential treatment for startups, but fairness and transparency.
Lucent Block operates a platform that issues and distributes fractional real-estate investment products. In February, it lost out in the FSC’s preliminary review for a fractional-investment OTC exchange to the Korea Exchange consortium KDX and the Nextrade consortium NXT. At the time, the FSC gave Lucent Block low scores on capital, its funding plan, governance and conflict-of-interest prevention systems.
“FSC capped the number of licensees without a formal vote”
Heo argued that the FSC did not go through a formal vote when it decided to limit the number of approved firms to as many as two. At a regular FSC meeting on Sept. 3, 2025, the matter was handled only as a reporting item, he said. A press release issued the following day then stated that the number had been fixed at up to two.
He also took issue with the FSC’s correction to materials submitted to the National Assembly. The regulator had initially said the cap on licensees was approved through a resolution at a regular meeting, but later revised that explanation, saying it was a working-level error and that the matter had only been reported and discussed. The FSC’s discretionary authority should be exercised through a commission vote, Heo said, but no such vote took place in this case.
Heo also criticized what he described as a lack of objective grounds for limiting the number of licensees. In past approvals for internet-only banks and real-estate trust businesses, authorities reviewed factors including market competition, he said. This time, the FSC offered only a one-line rationale citing investors and the need to prevent liquidity fragmentation. He questioned the logic behind whether there should be one exchange or two.
He also challenged the review standards applied to existing sandbox operators. For OTC exchanges for unlisted shares, regulators first reviewed two existing sandbox operators, he said. For fractional-investment OTC exchanges, by contrast, regulators conducted a competitive review that included new entrants. He questioned why different standards were applied even though both markets were institutionalized under the same enforcement decree.
He said that approach also runs counter to the purpose of South Korea’s financial regulatory sandbox program. Under Article 21, Paragraph 1 of the Special Act on Support for Financial Innovation, innovative financial service operators may apply for the relevant licenses to continue their businesses after their designation period expires.
Existing operators have the right to apply for licenses under the law, he said, but in practice there is no door through which they can exercise that right.
“The stated reasons for rejection are also inaccurate”
Heo also disputed the reasons the FSC gave for rejecting the company. On governance, he said his own stake is about 35%, while the FSC cited a combined 51% including related parties and concluded that the company had the character of a closely held personal firm. He said the structure does not allow him to control other investors’ stakes at his discretion.
He also objected to the FSC’s assessment of capital. At the time of the application, Lucent Block had secured about $16.6 million in capital, according to Heo. That was not far from the roughly $21 million secured by the NXT consortium. It was about one-fourth of the approximately $65.2 million secured by the KDX consortium.
He also explained why Lucent Block did not form a consortium. At a meeting in August 2025, the Korea Exchange had said it would distribute fractional-investment products on its existing exchange, he said, while Nextrade had said it would not participate in the business. At the time, it was difficult to expect either institution to take part in the licensing process for a fractional-investment OTC exchange.
He added that Lucent Block was never asked to join a consortium.
He said the FSC should review those points and provide an additional licensing opportunity. The company is not asking regulators to revoke the licenses already granted, he said. It wants a fair chance to compete through additional approvals.
He also left open the possibility of legal action. The company is reviewing legal procedures, though it is unclear how long that would take. He said he hopes financial authorities will still make a policy decision.

U.S. spot Bitcoin exchange-traded funds attracted more than $100 million in net inflows.
According to SoSoValue on October 27, U.S. spot Bitcoin ETFs recorded combined net inflows of $110.34 million in the previous session. The market returned to net inflows after two consecutive trading days of net outflows.
All of the day's inflows went to BlackRock's iShares Bitcoin Trust (IBIT). The remaining products recorded no net inflows or outflows.

South Korea’s Democratic Party is reviewing ways to revise the virtual-asset tax regime, including a further delay, ahead of its scheduled implementation in January next year.
Newsis reported on October 27 that floor leader Han Byung-do told a strategy meeting on the National Assembly’s state audit that the party would review concerns surrounding crypto taxation, gather internal views at a general meeting of lawmakers, and then consult with the government.
Key issues include whether overseas virtual-asset trading records can be secured at a level sufficient for taxation and whether the tax burden could fall disproportionately on users of domestic exchanges. Han also said the party needs to check whether a tax system reflecting actual trading conditions has been put in place.
The Democratic Party plans to gather views at a general meeting of lawmakers later in the day on adjusting the implementation timing and improving the system, then relay those opinions to the government. It also plans to speed up legislation on the Digital Asset Basic Act, which is intended to define the legal nature of virtual assets and establish a broader regulatory framework for the industry.
Kwon Chil-seung, the party’s policy committee chair, said opinion remains sharply divided over whether to proceed with the tax. Concerns center on the lack of a sufficient legal foundation for virtual assets and the possibility of heavier burdens on young investors. At the same time, others argue that gains should be taxed in the interest of tax fairness.
Kim Han-kyu, the senior deputy floor leader for policy, said the party is also reviewing the view that the same tax standards should apply to crypto and other investment assets such as stocks and bonds. With only about two months left before the planned rollout, the Democratic Party intends to move quickly on consultations with the government and finalize its policy direction.
The virtual-asset tax was introduced through a revision to the income tax law in December 2020, but its implementation has been postponed three times because of insufficient investor safeguards and tax infrastructure. Under the current timetable, it would take effect in January 2027.
The presidential office is also discussing another delay to the start of taxation, according to the report. Still, no decision has been made, and the specific direction will be determined through further consultations between the party and the government.

Agenda Ekonomi Utama Hari Ini
▶ 27 Okt (Selasa): △Pesanan barang tahan lama AS bulan September (pukul 21.30 Waktu Standar Korea) △Indeks kepercayaan konsumen AS bulan Oktober (pukul 23.00 Waktu Standar Korea) △Hari pertama rapat Komite Pasar Terbuka Federal (FOMC) △Laporan keuangan perusahaan: Visa, Boeing, Coca-Cola, PayPal
Agenda Kripto Utama Hari Ini
▶ 27 Okt (Selasa): △Pembaruan Osmosis (OSMO) v32

Strategy, perusahaan yang menyimpan Bitcoin, berencana memperkenalkan skema yang membuat dividen saham preferennya STRC terakumulasi setiap hari kalender.
Phong Le, CEO Strategy, menulis di X pada 26 Oktober bahwa perubahan tersebut akan diterapkan sepekan kemudian jika metode akumulasi dividen harian untuk STRC mendapat persetujuan.
Berdasarkan usulan tersebut, dividen akan terakumulasi setiap hari kalender. Artinya, pembayaran akan dihitung untuk semua tanggal, termasuk akhir pekan dan hari libur, berbeda dengan produk keuangan tradisional yang beroperasi berdasarkan hari kerja.

Komisi Perdagangan Berjangka Komoditas AS akan mulai membahas regulasi penyebaran perdagangan otomatis berbasis kecerdasan buatan.
Crypto in America melaporkan pada 26 Oktober bahwa gugus tugas inovasi CFTC akan menggelar Frontier Forum on Super Intelligence pada 28 Oktober. Para peserta dari industri keuangan, teknologi, dan mata uang kripto dijadwalkan membahas bagaimana kemajuan AI dapat memengaruhi pasar keuangan AS dan bagaimana pengawasan perlu berkembang.
Acara ini akan menjadi forum pertama gugus tugas inovasi tersebut. CFTC sedang memajukan dua usulan aturan terkait mata uang kripto dan juga mulai menjadikan pengawasan sistem perdagangan berbasis AI sebagai agenda utama.

Anthropic, pengembang chatbot kecerdasan buatan Claude, telah memulai proses penawaran umum perdana saham (IPO) di AS.
Cointelegraph melaporkan pada 26 Oktober bahwa Anthropic mengajukan pernyataan pendaftaran S-1 kepada Komisi Sekuritas dan Bursa AS sehari sebelumnya. Perusahaan berencana mencatatkan saham biasa Kelas A-nya di Nasdaq Global Select Market dengan simbol ticker ANT.
Dokumen pengajuan tersebut menunjukkan bahwa Anthropic dapat memulai debutnya di pasar paling cepat pada pertengahan November. Namun, jadwal penawaran dan tanggal pencatatan final belum ditetapkan.

Menurut analisis baru, pasar bearish Bitcoin telah berakhir dan sekarang merupakan waktu yang tepat untuk menambah posisi.
Alex Thorn, kepala riset di Galaxy Digital, menulis dalam laporan yang dirilis pada 26 Oktober bahwa pasar bearish Bitcoin berakhir pada Juni dan kini telah memasuki fase akumulasi menjelang kenaikan baru.
Laporan tersebut mengutip indikator teknikal. Bitcoin berhenti turun di dekat rata-rata pergerakan 200 minggunya pada Juni dan kembali menembus rata-rata pergerakan 50 minggunya pada September. Pola serupa pernah muncul setelah pasar bearish berakhir, menurut laporan tersebut.

Harga minyak turun seiring meningkatnya harapan akan terobosan dalam pembicaraan antara AS dan Iran. Bitcoin (BTC) bertahan di level $80.000.
CoinDesk melaporkan pada 26 Oktober bahwa minyak mentah Brent turun lebih dari 6% dibandingkan sesi sebelumnya dan diperdagangkan di bawah $110 per barel.
Ekspektasi bahwa ketegangan antara AS dan Iran dapat mereda tampaknya menekan harga minyak.
Financial Times melaporkan bahwa Iran sedang mengadakan pembicaraan dengan para pejabat dari Arab Saudi, Pakistan, dan Turki. Menurut laporan tersebut, para pejabat Qatar juga telah mengunjungi Iran sebelumnya.

Dengan delapan hari tersisa hingga pemilihan paruh waktu AS, perhatian juga tertuju pada bagaimana hasilnya dapat memengaruhi pasar aset digital.
Menurut BeInCrypto pada 26 Oktober, para petaruh Polymarket memperkirakan peluang Partai Demokrat meraih mayoritas di DPR sebesar 93% dan mayoritas di Senat sebesar 65%.
Jika Partai Demokrat pada akhirnya menguasai kedua kamar Kongres, hal itu dapat menekan Bitcoin (BTC), menurut laporan tersebut.
Salah satu faktornya adalah kekuatan dolar. Glassnode, firma analitik aset digital, mengatakan bahwa korelasi terbalik Bitcoin dengan dolar baru-baru ini mencapai level terkuat yang pernah tercatat. Jika Partai Demokrat membatasi belanja fiskal besar-besaran pemerintahan Trump dan meredakan kekhawatiran atas defisit anggaran, dolar dapat menguat dan menambah tekanan penurunan pada Bitcoin.

Evernox, perusahaan yang menyimpan XRP sebagai cadangan, sedang mencari pendanaan tambahan.
Menurut Komisi Sekuritas dan Bursa AS pada 26 Oktober, Evernox mengajukan pernyataan pendaftaran S-1 pada 23 Oktober yang mencakup hingga 5.218.935 saham biasa.
Pengajuan tersebut dilakukan berdasarkan perjanjian pembelian saham yang ditandatangani Evernox dengan perusahaan investasi CF Principal Investments.
Berdasarkan harga penutupan sahamnya sebesar $15,46 per lembar pada 22 Oktober, perusahaan tersebut mengatakan bahwa mereka dapat menghimpun dana hingga sekitar $80,7 juta.
Evernox berencana menggunakan dana tersebut untuk membeli XRP tambahan, bisnis terkait ekosistem XRP, dan keperluan korporasi umum, termasuk modal kerja.

Militer AS telah menyelesaikan persiapan untuk operasi berskala besar terhadap Iran yang dapat dimulai dalam 96 jam jika Presiden Donald Trump memberikan perintah, lapor CNN.
Mengutip dua pejabat pemerintah AS pada 26 Oktober, CNN mengatakan bahwa pasukan yang cukup telah ditempatkan di Timur Tengah untuk melancarkan serangan tambahan. Jika Trump mengizinkan operasi tersebut, operasi itu dapat dimulai dalam 96 jam.
Aksi militer yang sedang dipertimbangkan akan lebih luas daripada serangan terbatas sebelumnya. Komando Pusat AS dan Pentagon sedang mempertimbangkan daftar target yang luas, termasuk fasilitas energi, pangkalan militer, dan lokasi nuklir Iran. Seorang pejabat menyebutnya sebagai operasi berskala besar.

Yen Jepang mulai muncul sebagai aset lindung nilai yang efektif terhadap guncangan pasar keuangan terkait lonjakan investasi kecerdasan buatan.
Bloomberg melaporkan pada 25 Oktober bahwa Goldman Sachs menulis dalam catatan tertanggal 23 Oktober bahwa, meskipun kondisi ekonomi global masih mengindikasikan pelemahan yen, mata uang tersebut kini menjadi pilihan yang lebih menarik dibandingkan tahun-tahun sebelumnya untuk melindungi portofolio yang condong ke aset siklikal.
Yen menguat selama aksi jual global saham teknologi pekan lalu. Yen naik 0,9% terhadap dolar pada 22 Oktober dan mencapai level tertinggi dalam lebih dari sebulan pada 23 Oktober. Permintaan terhadap aset safe haven meningkat ketika kekhawatiran tentang perluasan investasi AI membebani saham dan membuat imbal hasil obligasi pemerintah AS turun tajam.

Park Soo-young, wakil ketua kebijakan Partai Kekuatan Rakyat yang berkuasa, mendesak pemerintah untuk kembali menunda penerapan pajak atas aset virtual dan terlebih dahulu menyiapkan peraturan terkait serta infrastruktur komputer.
Dalam unggahan Facebook pada 26 Oktober berjudul "Umumkan Kepastian Penundaan Pajak Aset Virtual," Park meminta pemerintah segera memfinalisasi rencana penundaan pajak tersebut. Ia menegaskan bahwa investor aset virtual bukan menolak membayar pajak, melainkan menuntut lingkungan perpajakan yang adil.

Peluang kenaikan suku bunga Federal Reserve pada Oktober menurun, memperkuat ekspektasi pasar bahwa para pembuat kebijakan akan mempertahankan suku bunga tetap.
Bloomberg melaporkan pada 25 Oktober bahwa probabilitas kenaikan suku bunga pada Oktober yang tersirat dari swap suku bunga telah turun di bawah 15%. Perubahan ini mencerminkan memudarnya ekspektasi akan pengetatan lebih lanjut, seiring anjloknya saham-saham kecerdasan buatan dan meningkatnya kekhawatiran tentang perlambatan pertumbuhan ekonomi AS.
The Fed menaikkan suku bunga acuannya pada September untuk pertama kalinya dalam sekitar tiga tahun. Tekanan inflasi yang terus bertahan telah memicu spekulasi mengenai kenaikan tambahan pada Oktober dan Desember, tetapi pandangan itu mulai berubah setelah para pejabat senior The Fed berulang kali menyampaikan sikap berhati-hati.

Kantor Kepresidenan Korea Selatan mengatakan bahwa pihaknya sedang meninjau kemungkinan kembali menunda penerapan pajak atas aset virtual, tetapi belum ada keputusan yang diambil.
Yonhap News TV melaporkan pada 25 Oktober bahwa kantor kepresidenan menanggapi pemberitaan media yang menyebutkan bahwa penundaan pajak kripto sekali lagi semakin mungkin terjadi. Kantor Kepresidenan mengatakan bahwa hal tersebut sedang ditinjau dan belum ada keputusan yang diambil.
Kantor tersebut sedang mempertimbangkan beberapa opsi, termasuk kembali memundurkan tanggal dimulainya pajak. Beberapa laporan menyebutkan bahwa kantor itu cenderung memilih penundaan tambahan.

Perdana Menteri Israel Benjamin Netanyahu mengatakan bahwa Israel sedang mempertimbangkan penggunaan teknologi blockchain dan mata uang kripto sebagai cara untuk merespons sanksi keuangan internasional.
Cointelegraph melaporkan pada 25 Oktober bahwa Netanyahu mengatakan dalam wawancara pada 23 Oktober dengan Channel 10 Israel bahwa pemerintahnya sedang mengkaji cara menggunakan teknologi blockchain dan mata uang kripto untuk bersiap menghadapi kemungkinan sanksi keuangan internasional. Dengan menyebut blockchain sebagai "alternatif terhadap sanksi," ia mengemukakan kemungkinan untuk menggunakannya sebagai alat strategis nasional.

@Agenda ekonomi penting minggu ini>
▶︎26 Okt (Sen.): △Laporan keuangan perusahaan: Verizon
▶︎27 Okt (Sel.): △Pesanan barang tahan lama AS bulan September (pukul 21.30 Waktu Standar Korea) △Indeks kepercayaan konsumen AS bulan Oktober (pukul 23.00 Waktu Standar Korea) △Hari pertama Komite Pasar Terbuka Federal △Laporan keuangan perusahaan: Visa, Boeing, Coca-Cola, PayPal
▶︎28 Okt (Rab.): △Hari ke-2 FOMC dan keputusan suku bunga acuan (29 Okt pukul 03.00 Waktu Standar Korea) △Konferensi pers Ketua Fed Kevin Warsh (29 Okt pukul 03.30 Waktu Standar Korea) △Laporan keuangan perusahaan: Alphabet, Microsoft

South Korea is increasingly likely to delay taxation on virtual-asset, or cryptocurrency, income again, pushing back a levy scheduled to take effect in January. The Blue House, the country’s presidential office, has tilted toward another deferral, though consultations with the ruling party and a parliamentary review of related legislation still remain.
News1 reported on October 25 that a Blue House official said the administration had decided to postpone the tax in part out of respect for young people’s efforts to build assets. Discussions between the government and the ruling party will move in that direction as well, the official added.
Under the current Income Tax Act, annual income from virtual-asset transfers and lending will be subject to a 22% tax rate, including local income tax, on amounts exceeding a 2.5 million won deduction from next year. The start date has already been postponed three times.
Officials have cited inadequate tax infrastructure and fairness concerns involving users of overseas exchanges as reasons for another delay. In particular, concern has grown that the tax burden could be concentrated on users of domestic exchanges, given that the U.S. is set to join the Crypto-Asset Reporting Framework, or CARF, only from 2029.
The biggest obstacle is that the U.S. does not provide South Korea with tax information, the Blue House official said. If the tax is implemented as scheduled, tax authorities would have to track information on U.S. exchanges one by one.
The ruling party is also pursuing legislation to delay the start of virtual-asset taxation until 2029. The Blue House plans to finalize its position after the annual parliamentary audit concludes and after consultations with the ruling party.