South Korea
South Korea Investigates $48M Bitcoin Loss From Prosecutors’ Evidence Vault
South Korean prosecutors are investigating the loss of a large amount of Bitcoin that had been seized and held as evidence in a criminal case, raising fresh concerns over how...
South Korea Busts Crypto Laundering Ring Behind 150 Billion Won FX Scheme
South Korean customs authorities have shut down an international cryptocurrency laundering operation accused of moving nearly 150 billion won through unauthorized foreign exchange channels, highlighting the country’s intensifying scrutiny of...
South Korea Crypto Exchanges Oppose Proposed 20% Ownership Cap
South Korea’s digital asset exchanges are objecting to a government plan that would cap major shareholders’ stakes at 15–20%, arguing that forced changes to ownership structures could change decision-making and...
South Korea Reopens the Corporate Door to Crypto After Nine Years
South Korea is reopening the doors to corporate cryptocurrency investing after nearly a decade of tight restrictions, a shift that could redraw the country’s digital asset landscape and pull institutional...
South Korea Supreme Court Rules Crypto on Exchanges Can Be Seized
South Korea’s Supreme Court has ruled that cryptocurrencies held on local exchanges can be seized under existing laws. This decision eliminates a long-standing legal gray area and changes how crypto...
South Korea Crypto Regulation Delayed as Stablecoin Talks Drag
South Korea’s digital asset regulatory agenda is entering a period of uncertainty, as the government’s proposed Basic Digital Asset Act faces delays due to unresolved disagreements over stablecoin oversight and...
South Korea Stablecoin Bill Misses December 10 Deadline as Central Bank Objects
South Korea’s stablecoin industry faces fresh regulatory uncertainty as the Financial Services Commission missed the government December 10, 2025 deadline to submit a stablecoin bill to the National Assembly. The...
a16z Sets up Seoul Crypto Hub to Anchor Asia Expansion
Andreessen Horowitz, better known as a16z, is expanding its crypto investment footprint in Asia through a new base in Seoul, South Korea. The venture capital firm said the Seoul office...
North Korea’s Lazarus Group Linked to $37M Upbit Hack, Timing Clashes with $10B Naver Deal
South Korean authorities have launched a high-level probe into the security breach at Upbit, with initial forensic markers pointing to North Korea’s state-sponsored Lazarus Group. The investigation has refined the...
Upbit Confirms $37M Hack: Exchange Says It Will Cover Every Lost Dollar
Upbit, South Korea’s dominant cryptocurrency exchange, has confirmed a security breach resulting in the unauthorized transfer of approximately $37 million (54 billion KRW) in Solana-network assets. The exchange has immediately...
Naver to Acquire Upbit Operator Dunamu in $10.3 Billion Stock Swap
Naver Financial, the financial services division of South Korea’s tech behemoth Naver, said it is planning on buying Dunamu in a deal that likely won’t see any cash exchange hands....
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...
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