South Korea
Enforcement Decree for Crypto Protection Act Underway in South Korea
The South Korean government has taken a decisive step towards safeguarding virtual asset users and ensuring a secure trading environment in the crypto market. Under the Financial Services Commission, South...
South Korea Pension Fund Faces Backlash for $19.9M Investment in Coinbase
A prominent figure in the crypto community has called out South Korea’s National Pension Scheme, criticizing the agency for its investment adventure with the leading U.S.-based crypto exchange Coinbase. In...
South Korea Bans Short Selling Ahead of Upcoming Election
South Korea has banned short-selling until at least June 2024. Shares in South Korea rose Monday morning, with the country’s benchmark Kospi gaining 4%. The reason for the ban is...
BitGlobal’s Abrupt Disappearance Underscores Crypto Market Risks
In the ever-evolving and highly vulnerable crypto space, the community is often advised to use decentralized exchanges (DEX) and centralized exchanges (CEX), cautioning against the probable security risks. While the...
South Korean Regulator Takes Aim At OTC Crypto Trading
South Korea’s customs agency recently highlighted crypto trading’s role in illegal forex transactions. The Financial Services Commission (FSC) has also taken note of OTC crypto trading’s role in financial crimes....
XRP Surpasses Ethereum as South Korea’s Most Popular Altcoin
XRP, the world’s fifth-ranked cryptocurrency, has dethroned Ethereum, the world’s second-largest cryptocurrency, as the most popular altcoin in South Korea. According to a South Korean news outlet report, cryptocurrency users...
South Korea’s Crypto Hunt: Cheongju Moves to Seize Assets from Tax Evaders
City authorities in Cheongju, South Korea are gearing up to take decisive action against local tax evaders involved in the cryptocurrency space, as reported on August 22 by local news...
South Korea Seeks Crypto Firms’ Advice To Combat North Korea’s Crimes
South Korean officials are reportedly conducting meetings with American crypto and cybersecurity firms over concerns surrounding the illicit activities of North Korea. Stolen crypto is reportedly being used by the...
Chainalysis Spotlights How S.Korean New Act Combats Integrity Concerns
Leading data analytics firm, Chainalysis, brought attention to the groundbreaking development in South Korea’s crypto landscape. The data analytics firm took to Twitter to highlight the implication of the Virtual...
Do Kwon Sentenced to Jail and South Korea Tightens Crypto Laws
South Korea has recently approved its first independent digital-asset bill aimed at enhancing investor protection. In related news, Do Kwon has been sentenced to jail for four months after attempting...
South Korea Passes Landmark Crypto Bill Tackling Crypto Scandals
South Korea passes its first standalone digital-asset bill. The bill aims to safeguard investors and address crypto scandals. The legislation defines digital assets and imposes penalties for violations. South Korea...
Korean Authorities Ban Travel for Haru Invest, Delio, B&S Holdings Execs
Seoul authorities impose travel restrictions on individuals associated with Haru Invest, Delio, and B&S Holdings. Haru Invest and Delio suspended withdrawals due to issues with service partner B&S Holdings. Concerned...
Do Kwon Awaits Imprisonment in Both the US and South Korea
Dan Sunghan, a senior South Korean prosecutor declared that Do Kwon, the ill-famed CEO of the crypto exchange Terraform Labs might be imprisoned for a long period both in South...
Binance Co-operating With South Korean Police on Asset Freezing System
According to a report from the South Korean media, the leading crypto exchange Binance has taken part in a “virtual asset exchange working meeting” today, organized by the National Police...
South Korea Approves Bill Requiring Crypto Disclosure For Officials
On Monday, a Korean parliamentary subcommittee approved a bill that includes cryptocurrency and other virtual assets in the annual asset disclosure requirements for elected and high-ranking government officials, reported a...
BOK: Bankruptcies of Crypto Platforms Unlikely to Happen in S.Korea
In a recent Crypto Asset Market Vulnerability Evaluation and Implications report, the Bank of Korea (BOK) argued that accidents such as the bankruptcy of trading and loan platforms in the...
Terra Co-founder Daniel Shin’s Fraud Trial Set for May 26
Terra co-founder Daniel Shin’s first hearing is set for May 26, 2023. The trial date comes after two failed attempts by local prosecutors to detain Shin. Shin has assembled a...
South Korea May Bring New Lawsuit System for Crypto Criminals
Financial regulators in South Korea are planning to introduce a new class action legal system in light of the rising malpractices in the crypto industry. The primary objective is to...
CryptoQuant CEO Shares Insights About Korean Trader Habits on Twitter
The CEO of CryptoQuant, Ki Young Ju, took to Twitter this morning to add to an old thread from 2021 about the habits of Korean traders when withdrawals are suspended....
South Korea Seeks To Apprehend Daniel Shin After Do Kwon’s Arrest
Reports suggest prosecutors in South Korea are attempting to arrest Daniel Shin, a fintech entrepreneur who was involved in establishing the Terraform Labs cryptocurrency project, which experienced a $60 billion...
Korea Customs Seizes Illegal CryptoTransactions Worth 5.6 Trillion Won
According to a recent news report from Yonhap, the Korean Customs Service seized over 5.6 trillion won worth of cryptocurrencies last year linked with illegal foreign exchange transactions involving virtual...
South Korea Commits $173 Million To Metaverse Development In 2023
Despite a worldwide slump in the crypto market that has eroded investors’ confidence in this industry, the Web3 space seems to be faring well amid the crypto winter. The evidence...
South Korean Regulators Keeping Eye On Ripple Vs SEC Lawsuit
The Financial Supervisory Service in South Korea is keenly following the US Securities and Exchange Commission’s (SEC) action in the Ripple lawsuit. Local media sites claimed that the FSS would...
S. Korean Ministry Officials in Search of Do Kwon, Reaches Serbia
As per the latest report, the South Korean commission of officials visited Serbia the last week in search of the infamous Do Kwon, the CEO, and co-founder of the fallen...
Virtual Currency Tracking System: South Korea’s Crypto Regulation
South Korea’s Ministry of Justice announced on January 26, 2023, that the authority has decided to introduce a “Virtual Currency Tracking System,” adding to the series of crypto regulatory acts...
