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South Korea Launches Investigation Into Worldcoin’s Data Collection Practices
6.3.2024
The government of South Korea has opened an investigation into Worldcoin, the iris scanning cryptocurrency and digital wallet project. According to a press release, the Personal Information Protection Commission, the data privacy watchdog in the country, will investigate the actions taken...
South Korea to Expel Crypto Exchanges Failing to Meet Its Stringent Conditions
15.2.2024
Cryptocurrency exchanges that fail to meet South Korea’s stringent operating standards will be expelled from the crypto market, the country’s financial intelligence agency has said. The Financial Intelligence Unit said its annual work plan incorporates the insights of cryptocurrency...
Haru Invest Execs Arrested in South Korea for Allegedly Stealing $828M Worth of Crypto: Report
6.2.2024
The platform paused withdrawals and fired 100 employees last June citing issues with service partners
South Korean Regulator to Discuss Spot Bitcoin ETF With U.S. SEC: Report
5.2.2024
In December it was reported that Financial Supervisory Service head Lee Bok-hyun was planning on meeting with the U.S. SEC Chairman Gary Gensler for the first time to discuss crypto regulation
South Korean Prosecutor in Court for Passing Information to a Virtual Asset Investment Fraudster
1.2.2024
On Jan. 30, a South Korean court continued with the trial of a prosecutor who is accused of passing sensitive information on the progress of an investigation to an alleged virtual asset investment fraudster. According to the Gwangju District Prosecutor’s Office, the acts by the prosecutor...
South Korean Tax Accountant: Digital Assets Held in Non-Custodial Wallets Not Subject to Overseas Reporting Requirement
5.1.2024
South Koreans with digital assets held in non-custodial or decentralized crypto wallets like Metamask or Ledger are reportedly not subject to the country’s overseas financial account reporting requirement. According to a South Korean tax accountant, only virtual assets held on overseas centralized...
South Korea to Make Officials' Crypto Disclosures Public
27.12.2023
Public officials will also be provided an asset disclosure service starting next year to report crypto and other holdings
South Korea Financial Regulator Proposes Consumer Protection Rules for Crypto Users
11.12.2023
The rules are scheduled to take affect on July 19 next year
Central Bank of Italy and South Korea Strike CBDC Partnership on IT and Payment Systems
5.12.2023
Source: AdobeStock The Central Bank of Italy and South Korea have announced a partnership to collaborate on key areas like payment systems and IT in the development of Central Bank Digital Currencies (CBDCs). A Dec 5 press release by La Banca d’Italia disclosed the agreement which would see both...
Report: Operator of South Korean Crypto Exchange Upbit Sees a Nearly 40% Drop in Operating Profit
30.11.2023
Dunamu, the operator of the South Korean crypto exchange Upbit, recently said it had realized an operating profit amounting to $79 million in the third quarter of 2023. Virtual asset valuation losses contributed to the 81.6% drop in the operator’s net profit for the period. Operating Profit...
South Koreans Hold $99B of Digital Assets Overseas: Tax Service
20.9.2023
The crypto held in overseas accounts for about 70% of all assets held outside the country
South Korean Authorities Take Aim at Unregulated Crypto OTC Desks Amid Money Laundering Concerns
19.9.2023
South Korean prosecutors and regulators are directing their attention toward reported issues concerning unregulated cryptocurrency-based over-the-counter (OTC) trading and deposit enterprises. During the third annual prosecutors’ conference, officials proposed the necessity for enhanced...
Web3 Doesn’t Care About Bitcoin Prices – And Other Musings From Korea Blockchain Week
13.9.2023
A packed venue and hopeful cheers from an estimated 10,000 people attending the many Web3 panels could have made one doubt whether the industry remains in one of the deepest bear markets in its young history
Korean lawmakers rally towards crypto rules in May after grisly murder case: Report
18.5.2023
Crypto policy making efforts have been reignited in South Korea after a woman was murdered following a dispute over digital assets
Executives from $1.5B South Korean crypto exchange fraud jailed
28.12.2022
The latest court action now takes the number of V Global execs behind bars up to seven, as the CEO, known as Mr. Lee was previously sentenced to a 22 year prison term