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South Korea is warming to the idea of digital asset payments by allowing foreign visitors to convert crypto assets to fiat. The country now allows tourists to convert stablecoins into cash using Kaia ATMs at major tourist destinations. DaWinKS and Kaia DLT Foundation collaborated to establish the crypto-enabled kiosks. The firm also revealed that the ATMs support Kaia-issued USDT – a type of Tether’s USDT formed from the merger of Klaytn and Finschia. Translated post from Kaia Korea. Source: @KaiaChain_KR (via X/Twitter) South Korea limits locals from using crypto ATMs Both companies said the ATMs are available in the country’s infrastructure, such as convenience stores and transit hubs. According to both firms, the crypto-enabled kiosks are easy to use, and foreign visitors can withdraw fiat in 85 currencies or deposit funds onto a local transit card. South Korea has also barred locals from using the crypto ATMs, even if they have digital assets. Dr. Sangmin Seo, chairman of the Kaia DLT Foundation, argued that the country really desires to pursue the stablecoin industry, even through experimental implementation. Locals have reportedly attempted to access the machines discreetly, despite being limited to only tourists. It has raised questions about how local authorities are able to implement the ATMs’ restrictions and whether the demand for stablecoin conversion exists beyond the target user base. Seo maintained that the machines are faced with challenges such as know-your-customer rules for background checks and identity verification. He also believes that KYC causes major delays for offline Web3. DaWinKS revealed that its ATMs include passport- and face-scanning authentication procedures similar to those used at airport immigration in Korea. The firm said the machines will be available at seven strategic locations in the country, including NSeoul Tower, Homeplus (Hapjeong and CentumCity), LIFEWORK Mega Store Myeongdong, Lotte Mart (Gwangbok), NamDaeMun Exchange Cafe, and Myeongdong Money Club. The company’s CEO, Jong-myeong Lee, also mentioned that it is building a global footprint for stablecoin usability. Seo believes that DaWinKS’s solutions, under the government’s sandbox licenses, will allow financial technologies to connect and resolve such issues reliably, without inconveniencing consumers. He also noted that many local businesses want to incorporate their fintech features with digital teller machines. Kaia DLT Foundation’s CEO added that businesses want to include features like debit cards, vouchers, foreign-only casino or resort payments, and also medical payments. He acknowledged that the ATMs can be compatible with any other fintech solutions, which bridge digital assets to real-world, cash-down activities. South Korea introduces stablecoin legislation South Korea doesn’t have a unified regulatory framework for stablecoins, which Seo said makes it hard for locals to follow. On Monday, the country’s ruling and opposition parties tabled stablecoin legislation that targeted crypto regulation. The country’s Democratic Party official Ahn Do-geol filed legislation for won-pegged stablecoins that sought to ban interest payments. The ruling People Power Party’s Kim Eun-hye also submitted a competing bill seeking to exclude any ban on interests. Richard O’Carroll, APAC regional manager at hardware wallet company OneKey, argued that Korea’s stablecoin regulation needs to combine government oversight with private sector freedom. “While government control is necessary for monetary sovereignty, consumer protection, and systemic risk management, excessive restrictions could undermine Korea’s competitiveness in the global digital asset landscape.” -Richard O’Carroll, Senior Professional Commercial Manager at APAC. Under Ahn’s legislation, stablecoin issuers are required to obtain Financial Services Commission approval and maintain a minimum capital of $3.6 million. Kim’s bill seeks to boost innovation in crypto payments. South Korea’s newly elected president, Lee Jae-myung, also advanced his crypto-friendly agenda in June, issuing new stablecoin legislation for companies. The Digital Asset Basic Act seeks to only allow firms with 500 million won ($366,749) to issue stablecoins. The president also argued that South Korea needs to establish a won-pegged stablecoin to prevent national wealth from moving overseas. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More
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Investor-led class-action lawsuits tied to cryptocurrency and artificial intelligence (AI) are on pace to surpass 2024’s full-year totals, highlighting growing investor frustration and legal scrutiny in two of the most dynamic sectors of the market. According to a new report by Cornerstone Research, the first half of 2025 has already seen 12 AI-related lawsuits and six crypto-related cases, nearly matching the 15 and seven respectively filed across the entirety of last year. Interestingly, while the focus on AI and crypto litigation has intensified, the overall number of securities class-action filings in the U.S. remained relatively flat. A total of 114 cases were filed in the first six months of 2025, compared to 115 in the second half of 2024. The data suggests that while general shareholder disputes have plateaued, targeted legal actions in tech-driven sectors are escalating. Crypto Legal Battles Continue Despite Regulatory Slowdown The rise in crypto class actions comes even as federal regulatory enforcement has eased under President Trump’s administration . Cornerstone noted that investors are increasingly resorting to civil lawsuits to pursue claims of fraud, misrepresentation, or misconduct involving crypto firms. Of the six crypto-related filings so far this year, three were against crypto issuers, one targeted a mining firm, and two involved companies that were crypto-adjacent—such as hardware manufacturers or firms with crypto partnerships. Notably, Burwick Law filed three of these cases, including high-profile suits against Pump.fun and the promoters of the controversial LIBRA memecoin . “Civil actions, especially in crypto, often provide a vital path to accountability when other remedies have yet to catch up,” said Max Burwick, founder of Burwick Law. The remaining crypto-related lawsuits were led by Pomerantz LLP and Glancy Prongay & Murray, underscoring a growing legal interest from major securities litigation firms in digital asset cases. “AI-Washing” Fuels Rise in Tech Lawsuits AI litigation is being driven largely by what legal experts are now calling “AI-washing”—a practice where companies overstate or mislead investors about their artificial intelligence capabilities. Of the 12 AI-related lawsuits filed in 2025 so far, many cite misleading public disclosures or inflated marketing about AI integration. Stanford Law professor and former SEC Commissioner Joseph Grundfest noted , “ChatGPT explains the increase in AI-related securities litigation as primarily driven by the phenomenon known as ‘AI washing’… I have nothing else to add to this AI explanation of AI litigation.” The post Crypto and AI Class-Action Lawsuits Surge in 2025, Set to Eclipse 2024 Totals appeared first on TheCoinrise.com .
The broader crypto market appears to be in a consolidation phase, with Bitcoin trading rangebound near $116,000-$119,000. Volatility appears to be muted as investors digest recent gains and await new catalysts. New data suggests that the continued ETF inflows are a confirmation of continued bullish sentiment. $55B and Counting Spot Bitcoin ETFs have seen net inflows on 29 of the past 33 trading days, amidst strong market confidence. These inflows, with a cumulative total of more than $55 billion, confirm the continued upward momentum in cryptocurrency markets, according to the latest update shared by Santiment. On July 30 alone, total net inflows into spot Bitcoin ETFs reached $47.03 million, continuing a five-day positive streak. Interestingly, BlackRock’s IBIT led the day with $34.47 million, followed by Bitwise’s BITB at $12.66 million. None of the other spot ETFs registered any movement, as per data compiled by SoSoValue. QCP Capital also echoed a similar sentiment. In its analysis, the firm noted that institutional inflows and favorable regulatory developments strengthen the case for potential new highs in the medium term, even as Bitcoin remains tightly rangebound and is “struggling to convincingly” break above the $120K level. In addition to that, accumulation by firms like Strategy actively raising capital to buy Bitcoin, “underscores long-term conviction in the asset.” ETH ETF Streak Grows Too Turning to Ethereum, spot ETFs recorded $5.79 million in net inflows on July 30, extending their streak to 19 consecutive trading days. Notably, BlackRock’s ETHA and Grayscale’s ETHE contributed $20.29 million and $7.77 million in inflows, respectively. Fidelity’s FETH, on the other hand, recorded more than $22 million in outflows. Amid this rising institutional interest in Ethereum, corporate players are beginning to take more direct exposure to the asset. For instance, SharpLink Gaming expanded its ETH accumulation strategy. Earlier this week, the company announced that it had acquired 77,210 additional ETH last week, worth nearly $290 million at an average purchase price of $3,756. As a result, SharpLink’s total ether holdings have reached 438,190 ETH, with a market value of around $1.69 billion. The firm also raised $279 million in net proceeds during the week of July 21 through its ATM equity facility. Since initiating its ETH treasury plan on June 2, it has actively ramped up purchases while earning 722 ETH from staking activities. BitMine Immersion Technologies still holds the top spot among corporate ETH treasuries. On the same day, it reported owning 625,000 ETH, which is approximately $2.35 billion. BitMine also announced a $1 billion open-ended share buyback plan. The post Spot Bitcoin ETFs See Inflows 29 of 33 Days – Here’s Why That Matters appeared first on CryptoPotato .