HSBC, JPMorgan, MUFG, Societe Generale, Standard Chartered launch Singapore-based GL1 Org for tokenized finance

The nonprofit Global Layer One Organisation builds on an existing Monetary Authority of Singapore initiative, focusing on common standards and interoperability for tokenized financial markets. Separately, South Korea will officially pursue a two-year delay of its planned income tax on digital assets, Yonhap reports, marking the fourth postponement of the crypto tax. The tax was scheduled to start on Jan. 1, 2027, levying a 22% tax including local tax on crypto gains, with a 2.5 million won ($1,864) deductible.

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