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Korean crypto exchanges could soon face fines for gaps in due diligence measures
10.3.2021
South Korean financial regulators are developing a penalty regime for Anti-Money Laundering and Know Your Customer violations by cryptocurrency exchanges
Korean crypto exchange Bithumb toughens up its Anti-Money Laundering measures
9.3.2021
The operator of South Korean cryptocurrency exchange Bithumb has placed restrictions on trading accounts registered in jurisdictions that are deemed to be too lax in curbing money laundering
South Korean Crypto Transactions Command an Average of $7 Billion per Day on Domestic Exchanges
9.3.2021
An investigation unveiled a growing fever among crypto traders in South Korea, who actively transact cryptocurrencies every day. Local media outlets are returning to adopt the term “crypto fever” as the recent billion-dollar figures confirm such a trend. Figures Are Now Higher Than 2018...
User Data Issue Threatens to Blight New South Korean Crypto Regulation
5.3.2021
A South Korean regulator has warned of a wrinkle in forthcoming crypto exchange-governing – just days from its promulgation. At worst, the issue could leave sensitive data about customers compromised due to a legal problem.
As previously reported, a key amendment to the existing Act on...
Inspired by Tesla, South Korean Crypto Moms Take the Bitcoin Plunge
3.3.2021
While demographic studies have shown in the past that the average crypto investor is young and male, the picture in 2021 might be changing, a recent report has found, with Millenials being edged out by boomers and Generation Xers. At least that is the case in South Korea, where a new wave...
Door Opens for South Korean Crypto Exchanges Fearing Forced Closures
2.3.2021
Smaller South Korean exchanges may find a way to survive the promulgation of a new crypto act later this month that requires all trading platforms to abide by real-name banking procedures.
As previously reported, only the “big four” crypto exchanges – Upbit, Bithumb, Korbit, and Coinone – currently...
South Korean Crypto Exchanges Face New Hurdle as Legal Deadline Looms
20.2.2021
With just over a month left before South Korean financial regulators begin policing the activities of the nation’s crypto exchanges, a regulatory body has unveiled details of how it will request trading platforms to report suspicious transactions as part of what promises to become one of the most...
Bank Account Data May Indicate a Rise in South Korean Crypto Activity
19.2.2021
A new report has linked a spike in the creation of new bank accounts in South Korea to a rise in crypto trading – an indication that a large influx of new traders in the East Asian nation has taken up crypto in 2021.
In 2018, Seoul created a set of guidelines that requires crypto exchanges to keep...
South Korean Crypto Exchange Becomes the First Overseas Platform Legally Recognized in China
10.2.2021
A South Korean cryptocurrency exchange announced it established its first legally recognized branch in China. Although the nation banned all local crypto trading services, DBX said the firm already obtained a license to go ahead with the operations. Final Certificate of Incorporation Granted...
Bithumb CEO Predicts Only Four to Seven South Korean Crypto Exchanges Will Survive New Rules
20.1.2021
The CEO of the South Korean cryptocurrency exchange Bithumb has made some predictions regarding the upcoming new rules governing the national industry. In fact, the executive believes there will only be between four and seven exchanges surviving the new regulation. Smaller Companies Unlikely...
Bithumb Boss: Only 4-7 Korean Crypto Exchanges Will Survive Regulations
15.1.2021
The CEO of Bithumb Korea, the domestic wing of the South Korean market-leading crypto exchange Bithumb, has predicted that after soon-to-promulgate regulations kick in, there will only be between four and seven exchanges left standing.
There are currently almost 50 crypto trading platforms in...
Production of $2.7 Million-per-Episode: South Korean Crypto-Related TV Drama Series Is Set to Start in 2021
31.12.2020
A major South Korean TV series with crypto and blockchain-related topics is set to launch its production stage at the beginning of 2021, directed by Gemstone Film, in collaboration with firms in China and the United States. South Korean Crypto-Related TV Drama Series ‘Pumping Time’...
South Korean Crypto Exchanges Prepare for Order Book Sharing Shutdown
29.12.2020
Source: Adobe/Андрей К
A number of South Korean crypto exchanges are ceasing policies that see them share order books with overseas exchanges in preparation for the promulgation of a new crypto law that comes into force early next year.
As reported, a series of amendments to a financial law will...
Korean crypto investment company launches $100 million fund for blockchain projects
23.12.2020
South Korea’s Hashed has established a new fund to finance emerging blockchain startups
South Korean Crypto Tax May Be Delayed after Parliamentary Intervention
25.11.2020
South Korean crypto investors could receive a welcome stay of execution from new crypto taxes – with parliamentarians pushing Seoul to postpone a much-maligned crypto tax reporting act.
Per the Dong-a Ilbo, a leading South Korean parliamentary committee has made a late intervention in the matter...
South Korean Crypto Firms Must Disclose Users’ Identities Under Planned Law Change
6.11.2020
South Korea's top financial watchdog wants legal changes making it mandatory for cryptocurrency firms to report the names of customers
‘Arbitrary’ Ruling May ‘Force South Korean Crypto Exchanges to Close’
4.11.2020
South Korean crypto-related firms said they are concerned that banks are being given too much power by the country’s financial regulators.
In the latest regulatory rulings unveiled this week, regulators stated that banks would be obliged to decide whether or not they want to do business with crypto...
North Korean Crypto Hackers Now Target Russian Defense Firms – Report
19.10.2020
A group of North Korean hackers that have allegedly made a name for themselves by targeting American-based crypto firms appears to have upped its ante – and is now reportedly targeting Russian and other international defense companies.
Per Kommersant, Anastasia Tikhonova, head of sophisticated...
North Korean crypto hacking: Separating fact from fiction
9.10.2020
"The small IP space/access to the internet in the DPRK, as well as its less connected nature to global/online systems, arguably offers it an asymmetric advantage in relation to cyber operations."
South Korean Crypto Exchanges Search for ‘Seamless’ AML Solutions
19.9.2020
With just months to go before new legislation comes into force requiring all of South Korea’s crypto exchanges to implement strict anti-money laundering (AML) policies, the race is now on to adopt solutions ahead of time – and avoid falling foul of the law.
So which AML solutions are South Korean...