South Korea
South Korea FSC Crypto Freeze Total Reaches $61.4 Million Since 2019
South Korea’s Financial Services Commission (FSC) disclosed it has frozen approximately $61.4 million worth of cryptocurrency assets across various trading platforms over the last six years. This cumulative figure, revealed...
South Korea’s $350B U.S. Deal Stalls on Cash Timing as Tariffs Test KRW, Crypto
Korea pledged up to $350 billion for U.S. projects in July 2025 to unlock relief on U.S. tariffs on Korean exports. Negotiators then argued over how much must be paid...
South Korean Lawmaker Presses Regulator on GOPAX Compensation Post-Binance Deal
A South Korean lawmaker is pressing the Financial Services Commission (FSC) to hold Binance accountable for fully compensating users of the GOPAX exchange. Democratic Party lawmaker Min Byeong-deok raised the...
Binance Nears Korea Return as FIU Review of GOPAX Deal Points to Year End Approval
Binance’s acquisition of Korean exchange GOPAX is nearing completion as financial authorities are resuming the review that underpins the transaction. This follows the Korea Financial Intelligence Unit’s (FIU) recent resumption...
Naver to Acquire Upbit Operator Dunamu, Raising Stakes Against Kakao in South Korea
Naver Corp. (KRX: 035420), South Korea’s leading search and e-commerce platform, is moving to acquire Dunamu, the parent company of the Upbit exchange, through a comprehensive stock swap. Once completed,...
Suspicious Crypto Activity Soars in South Korea, Topping 36,000 Cases in 2025
Between January and August 2025, 36,684 suspicious transaction reports (STRs) were submitted by virtual asset service providers (VASPs), say South Korea’s Financial Intelligence Unit (FIU) and Korea Customs Service (KCS)....
Seoul Lifts 7-Year Ban, Allowing Crypto Firms Access to Capital and Tax Breaks
South Korea has lifted a seven-year restriction on cryptocurrency businesses, clearing the way for trading and brokerage firms to qualify as venture-certified companies. The Cabinet approved revisions to the Enforcement...
South Korea Rolls Out the Red Carpet for Crypto Startups; And the Tax Man
South Korea’s government is moving to formalize its crypto economy with a classic “carrot and stick” strategy. Regulators are officially lifting a 2018 ban that blocked crypto startups from receiving...
Binance CEO Richard Teng Heads to South Korea as Regulatory Scrutiny Rises
Richard Teng, CEO of Binance, is expected to visit South Korea next week, where he’ll spotlight the importance of user protection and regulatory compliance. He’ll speak at notable events such...
South Korean Regulator Fines First Crypto Whale Under New Law
Today, the Financial Services Commission (FSC) of South Korea has imposed its first-ever fine targeting a crypto whale for unfair trading practices, including creating artificial trading volume, spreading false information,...
South Korean Retail Sells Tesla, Buys Into Bitcoin Miner Holding $3.6 Billion in ETH
South Korea’s massive army of retail investors is dumping Tesla stock and rotating that capital directly into crypto. Data for August shows a record $657 million sell-off of Tesla shares...
Upbit, Bithumb Forced to Halt Crypto Lending by South Korean Regulator
South Korea’s Financial Services Commission (FSC) has suspended all new crypto lending activities on local exchanges, effective August 19, 2025. The directive requires major platforms such as Upbit, Bithumb, and...
South Korea Halts All Crypto Lending After 13% of Borrowers Liquidated in One Month
South Korea’s top financial regulator slammed the brakes on crypto lending. The Financial Services Commission (FSC) has ordered all domestic crypto exchanges to immediately suspend their newly launched lending services,...
South Korea to Roll Out New Legislation for Won-Pegged Stablecoins in October
South Korea is moving to regulate its domestic stablecoin market. The country’s top financial regulator, the Financial Services Commission (FSC), is set to release new legislation in October 2025 that...
South Korea’s Lotte Group Brings 1M Vouchers to Blockchain with Aptos Integration
Daehong Communications, a subsidiary of South Korea’s retail giant Lotte Group, has launched a “money movement” ecosystem powered by Aptos, a high-performance blockchain. In the first phase of this integration,...
XRP Rally Fueled by U.S. Lawmakers, Say 34% of South Korean Investors in New Survey
A new investor sentiment survey conducted in South Korea from July 22 to 25 shows growing positive sentiment toward Bitcoin and renewed interest in XRP, driven by recent U.S. regulatory...
The GENIUS Act Effect: South Korea Is Now Fast-Tracking Its Own Crypto Regulations
South Korea’s ruling Democratic Party plans to fast-track new Bitcoin and crypto regulations. The decision follows the United States’ adoption of the GENIUS Act, which set a clear framework for...
South Korea Greenlights Expanded Crypto Access for Professional Investors
South Korea’s Financial Services Commission (FSC) will roll out a two-phase regulatory framework in the latter half of 2025 that expands crypto market eligibility to corporations and professional investors in...
New Bills in South Korea Propose Capital Requirements for Stablecoin Issuers
South Korea is tightening its focus on stablecoin regulation. Yesterday, the National Planning Committee summoned financial regulators to assess current oversight and propose measures that reduce risks for consumers and...
The Future of the ‘Digital Won’ To Be Private, Not Public
The Bank of Korea has suspended its central bank digital currency (CBDC) pilot program amid increased interest in private-sector stablecoins. The central bank began testing its CBDC in April, involving...
South Korea’s Ruling Party Denies State-Backed Stablecoin Plans
Recent reports claiming that South Korea’s government is preparing a state-backed Korean won stablecoin have been dismissed as “groundless” by a spokesperson from the ruling Democratic Party of Korea (DPK). ...
The Biggest Banks in South Korea Team Up to Create a New Crypto
South Korea’s financial sector is making a strategic move to issue a won-pegged stablecoin, with the country’s largest commercial banks leading a joint plan. The initiative comes as regulators begin...
South Korea Delays Banking Sector Crypto Deregulation Review Amid Policy Concerns
South Korea’s Presidential Transition Committee has confirmed it is not conducting detailed reviews of banking sector proposals to ease digital asset regulations and expand nonbanking business opportunities. Committee spokesperson Cho...
South Korean Crypto Survey Reveals 34% of Investors Remain Bullish After Dip
A new survey of South Korean crypto investors reveals a divided but cautiously optimistic outlook on the market, even after a recent price pullback triggered by the escalating war between...
KakaoPay Stock Surges Over 200% After Filing for a KRW-Backed Stablecoin
South Korean fintech firm KakaoPay has filed for 18 trademarks related to a potential Korean won (KRW)-backed stablecoin, a move that has sent its stock price soaring by more than...
