South Korea
Korean Won Becomes the Most-Used Currency to Trade Crypto Assets
The Korean won has surpassed the United States dollar as the most-used currency for trading Bitcoin and other digital assets. According to a report from Bloomberg, this uptick is centered...
What Does the Election Mean for Crypto Investors in South Korea?
South Korea’s April 10 legislative elections could reshape its political and crypto landscape. President Yoon’s PPP and the DPK vie for control amid rising crypto policy influence in politics. Over...
South Korean Parties Woo Voters with Crypto Incentives Ahead of Elections
Leading political parties in South Korea are pledging crypto-related incentives to garner support from voters ahead of the country’s upcoming parliamentary elections. The opposition Democratic Party has promised to remove...
GTIC Partnership Advances South Korea’s Virtual Asset Oversight Initiative
South Korea’s National Tax Service is taking proactive steps to tackle tax evasion in the realm of virtual assets. Bitcoin hit a new ATH of $70,000 over the last week...
South Korea’s Bitcoin ‘Kimchi Premium’ Breaks 2-Year Record
Bitcoin is reaching new heights in South Korea, with its price premium achieving a 2-year record of 10% in the country, according to the co-founder and CEO of the crypto-analytics...
South Korea Proposes to Delay Crypto Taxation for Another 2 Years
According to a report revealed by a local media outlet, Herald Business Daily, South Korea’s ruling People Power Party has proposed postponing the taxation on crypto investment gains as a...
Court Acquits Former Bithumb Chairman in Multimillion-dollar Fraud Case
A Seoul High Court has declared Lee Jeong-hoon, the former chairman of cryptocurrency exchange giant Bithumb, not guilty of allegations brought by prosecutors, according to a report from a local...
South Korea Restricts Bitcoin ETF Brokerage in Local Markets: Report
South Korea warns against the domestic brokerage of the US-listed bitcoin ETFs. The country does not intend to lift the ban on exchange-traded funds or cryptocurrencies. The move came following...
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...
