South Korea
South Korea May Soon Allow Bitcoin Spot ETFs
The Financial Services Commission (FSC) in South Korea will take important steps to shape the country’s cryptocurrency landscape. According to Cryptoquant Founder Ki Young Ju, this includes discussions about allowing...
Upbit’s Market Power in South Korea Attracts Regulatory Flak
South Korea’s Financial Services Commission (FSC) announced plans to investigate Upbit’s market dominance. This investigation follows concerns about Upbit’s ownership in the virtual asset sector and its association with K-Bank,...
South Korea Investigates KOK Token Crash, $3 Billion Lost
Lawmakers in South Korea are calling for a deeper investigation into the KOK crypto token scam and have urged the government to take action against those responsible for the token’s...
Hancom Chairman Faces Crypto Fraud Probe in South Korea
Software company Hancom Group Chairman Kim Sang-cheol is under investigation for allegedly amassing illicit funds worth tens of billions of Korean won using Arowana (ARW) tokens. South Korean prosecutors are...
Crypto Billionaires in South Korea: Young Investors Hold $739 Million
A study by the crypto exchanges Upbit and Bithumb shows the growing influence of cryptocurrencies among young South Koreans. More than 180 South Koreans in their 20s have crypto assets...
Bithumb Eyes Nasdaq Listing After Dropping KOSDAQ IPO
Bithumb, one of South Korea’s leading cryptocurrency exchanges, is considering a US Nasdaq listing, according to local news. At a shareholders’ meeting held on the 30th, the exchange said it...
CryptoQuant Founder: Web3 Needs Smart Regulation to Drive Global Collaboration
Ki Young Ju, the founder of CryptoQuant, believes Web3 has the potential to transform global collaboration on a scale surpassing even Google. He argued that with the right regulations in...
South Korea to Tackle Crypto Insider Trading with Legal Amendment
Democratic Party lawmaker Kim Young-hwan introduced an amendment to South Korea’s Improper Solicitation and Graft Act to combat crypto insider trading and bribery. The amendment would expand the definition of...
South Korean Court Orders Defunct GDAC to Return $7.3M in WEMIX to Wemade CEO
A South Korean court ruled in favor of Wemade CEO Park Kwan-ho, ordering the now-defunct GDAC crypto exchange to return 7.8 million WEMIX tokens, worth $7.31 million. This ruling is...
Worldcoin Price Surges Despite $831K Fine in South Korea
The Personal Information Protection Commission (PIPC) of South Korea fined the Worldcoin Foundation and Tools for Humanity (TFH) for violating personal data protection laws. The Worldcoin Foundation received a KRW...
South Korea’s FSS Gets Tough on Crypto Crime
The South Korean Financial Supervisory Service (FSS) announced plans to implement strict regulations for the crypto industry. FSS Governor Lee Bok-hyun introduced a zero-tolerance policy to combat unfair crypto trading...
Crypto Now Safer in South Korea Thanks to This New Foundation
South Korea’s Financial Services Commission (FSC) has given the green light to a foundation designed to protect users’ crypto assets. The Digital Asset Protection Foundation will safeguard assets in the...
Bithumb’s Bank Switch Under Review by South Korean Regulator
The Financial Intelligence Unit (FIU) of South Korea’s Financial Services Commission (FSC) is currently assessing Bithumb’s proposal to change its real-name account partner bank. Even so, Bithumb has submitted draft...
South Korea’s FSS Initiates On-Site Inspections of Crypto Exchanges
South Korea’s Financial Supervisory Service (FSS) has announced the launch of on-site inspections of crypto asset exchanges, with Bithumb being the first platform under review. The inspections will commence after...
South Korea Probes Upbit, Exchanges Under New Crypto Laws
South Korea’s Financial Supervisory Service (FSS) announced on Tuesday that it is launching an investigation into major crypto exchanges in the country, including Upbit, one of the leading trading platforms....
South Korea Probes Telegram Over Deepfake Sex Crimes
South Korean authorities are investigating messaging platform Telegram for its potential involvement in deepfake online sex crimes. The probe, according to Reuters report, will focus on whether Telegram facilitated the...
Crypto Fraud Case Takes Violent Turn: CEO Attacked in Court
The CEO of South Korean crypto-earning platform Haru Invest, Mr. Lee, was attacked in court on August 28. The incident happened during the eighth trial of his ongoing fraud case...
South Korea Cracks Down on Corruption in Crypto Enforcement
The Seoul Southern District Prosecutors’ Office is looking into a police officer accused of taking bribes in connection with crypto cases. The investigation, handled by the office’s Virtual Asset Crime...
Bithumb Korea Wins Tax Dispute, Virtual Assets Not ‘Inventory’
South Korean crypto exchange Bithumb Korea has secured a key legal victory against the country’s tax authorities. A high court ruled that Bithumb’s virtual assets are not to be classified...
US-Asia Pact: Implications for the Cryptocurrency Landscape
The United States, alongside Asia’s superpowers, South Korea and Japan, have issued a joint statement reaffirming their commitment to combating regional security threats, according to a Reuters report. South Korea’s...
South Korea Mandates Insurance for Closed Crypto Exchanges
South Korea’s Financial Supervisory Service (FSS) now requires defunct cryptocurrency exchanges to obtain insurance to safeguard user assets. This measure comes as part of a wider initiative to bolster investor...
Montenegro Court Approves Do Kwon’s Extradition to South Korea
Bloomberg reports that the Montenegro Appellate Court has approved the extradition of Do Kwon, the co-founder of Terraform Labs, to South Korea to face charges related to the TerraUSD collapse....
South Korea Crypto Tax: New ‘Quasi-Tax’ Imposed on Exchanges
The Financial Services Commission (FSC) of South Korea has announced an updated regulatory framework following the implementation of the groundbreaking Virtual Asset User Protection Act. The official announcement on August...
South Korea Delays Crypto Tax to 2028, What Investors Need to Know
South Korea’s plans to tax cryptocurrency gains have faced another setback, with a potential delay pushing implementation as far back as 2028. The revised proposal awaits approval, with the government...
Infinite Block, Korea’s First Licensed Crypto Custodian, Embraces XRP
Infinite Block, the only South Korean crypto firm to secure a Virtual Asset Service Provider (VASP) license until now, has announced support for XRP Ledger (XRPL), the open-source, public blockchain...
