South Korea
Kakao Bank Advances Stablecoin Push, Hires Devs as Naver Rivalry Heats Up
South Korea’s Kakao Bank has advanced its stablecoin initiative to the development stage, leading to an advertisement seeking applicants with the required skills and experience to approach the financial institution...
South Korea’s Virtual-Asset Tax Plan May Face Another Delay Till 2027
South Korea’s planned cryptocurrency tax framework may face another postponement, according to local outlet Hans Economy, which reports that key definitions and standards within the system remain unresolved. If delayed...
Bybit Follows Binance’s Lead, Enters Talks to Acquire Korbit in South Korea
Bybit is reportedly in discussions to acquire Korbit, one of South Korea’s oldest and fourth-largest virtual asset exchanges. Industry sources cited by Maeil Business Newspaper report that Bybit has held...
’Consistency, Innovation, and Stability’: 3 Key Considerations for South Korea’s Stablecoin Implementation
Stablecoins must be introduced with sufficient safeguards, given their potential effect on the financial system. This was the message from Lee Eog-weon, Chairman of South Korea’s Financial Services Commission (FSC)....
South Korea’s Governing Party Presses Regulators To Allow Bitcoin Spot ETFs
South Korea’s ruling People Power Party has renewed its push for domestic Bitcoin exchange-traded funds, saying regulators should authorize spot products without further delay. The statement came after the party’s...
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...
