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South Korean Province Collects $4.6M in Taxes Using Crypto Tracking System
22.2.2024
South Korean province of Gyeonggi is using a nuanced crypto tracking system to claw back unpaid taxes. So far, the province has collected $4.5 million in taxes from delinquents using the crypto tracking system.
The post South Korean Province Collects $4.6M in Taxes Using Crypto Tracking System...
South Korean Crypto Chat App Channel Scams on the Rise, Warn Police
22.2.2024
South Korean crypto scammers are targeting chat app users on trading- and investment-themed channels, police warned on February 21.
The post South Korean Crypto Chat App Channel Scams on the Rise, Warn Police appeared first on Cryptonews
South Korean ‘OTC Crypto Scammers’ Arrested After ‘Fleeing with $747,000 in Cash’
21.2.2024
Six suspected OTC crypto scammers were arrested in Incheon, South Korea, police in the city confirmed on February 20.
The post South Korean ‘OTC Crypto Scammers’ Arrested After ‘Fleeing with $747,000 in Cash’ appeared first on Cryptonews
K-pop Stars Choi Si-won, Cho Hyun-young Deny South Korean ‘Scam Coin’ Involvement
16.2.2024
K-pop stars Choi Si-won and Cho Hyun-young have denied allegations that they were involved in promoting so-called South Korean “scam coins.” Their denials come amid ongoing controversy and suspicions surrounding the blockchain-powered sports platform Winnerz. A growing number of top-level South...
South Korean Police Arrest Suspects in Winnerz-linked ‘Scam Coin’ Case
15.2.2024
A suspected scam coin operator was arrested in Gimpo, Gyeonggi Province, South Korea – in a case that appears to be linked to the controversy surrounding the blockchain firm Winnerz. According to YTN, Gimpo police charged an unnamed individual in their 20s with fraud. A second individual (also...
Crypto Exchanges Reported Over 16,000 Flagged Transactions to South Korean Authorities
14.2.2024
South Korean crypto exchanges reported over 16,000 transactions to local authorities in 2023, an increase from previous years. The Financial Intelligence Unit (FIU) released a breakdown of its efforts to tackle money laundering and other illegal financial threats involving crypto assets....
South Korean Celebrities Embroiled in Crypto ‘Scam’ Allegations
14.2.2024
South Korean celebrities, including top YouTubers, a veteran of the 2002 World Cup, a race car driver, and a leading comedian have been embroiled in a fast-developing crypto “scam” controversy. The controversy centers around a firm named Winnerz, a South Korean blockchain-powered sports project...
14 Suspected South Korean ‘Kimchi Premium’ Crypto Traders Cleared
12.2.2024
South Korean prosecutors have suffered a blow in their efforts to shut down kimchi premium crypto traders – with 14 suspects cleared of wrongdoing. Officials accused 16 people of illegally remitting $3.2 billion worth of assets, including crypto, fiat, and goods. Newsis reported that two of...
WeMade Crypto Blow as South Korean Regulators Probe Game Maker’s ‘Unregistered Sales’
9.2.2024
The South Korean game maker WeMade crypto project suffered a blow on February 8 as regulators launched a probe into suspected “unregistered” sales on WEMIX platforms. Maeil Kyungjae reported that the Financial Intelligence Unit (FIU), which reports to the Financial Services Commission,...
South Korean Altcoin Execs Released on Bail
8.2.2024
Two South Korean altcoin executives were freed on bail on February 7 pending a fraud trial. Prosecutors think the executives manipulated token prices to defraud investors. Per Newsis, the Seoul Southern District Court released Pica Project/Pica Coin co-chairs Song (aged 24) and Seong (aged 45)....
South Korea Exchange Association Petitions OKX for Offering Services Without Approval
7.2.2024
A group of cryptocurrency exchanges known as the Digital Asset Exchange Alliance (DAXA) has reported rival OKX to the financial authorities in South Korea. According to a Feb 7 report, OKX faces regulatory scrutiny by South Korean authorities after a report that it targeted local traders without...
South Korean Regulator Plans to Discuss Crypto Rules With US SEC Chair Gary Gensler
7.2.2024
South Korea’s financial watchdog chief is planning to visit the U.S. to discuss crypto regulation with the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, with a focus on the SEC’s recent decision to approve spot bitcoin exchange-traded funds (ETFs)....
South Korean Crypto Exchange Bitsonic Execs Jailed for Price Manipulation
7.2.2024
A Seoul court jailed South Korean crypto exchange Bitsonic executives for manipulating crypto prices – and profiting to the tune of $7.5 million. Newsis reported that the Seoul Eastern District Court sentenced the CEO of the Bitsonic trading platform to seven years in prison. South Korean Crypto...
Web3 Game Developer Wemade Reports Widening Losses in Q4 2023
6.2.2024
South Korean Web3 game developer Wemade has disclosed a significant increase in operating and net losses in the fourth quarter of last year, as per its latest earnings report. According to the report released on Tuesday, the Kosdaq-listed company’s net loss surged to 189.5 billion won ($142.6...
Crypto Yield Firm Haru Invest Execs Arrested in S.Korea for Laundering User Funds
6.2.2024
Top executives of Haru Invest, a South Korean crypto yield platform, have been arrested by the county’s prosecutors on Monday. The crypto investigation arm of the Seoul Southern District Prosecutors’ Office have arrested three people in connection with crypto fraud worth 1 trillion Won ($752...
South Korean Crypto Exchange Bithumb Reinstates Commission Fees After Four Months
6.2.2024
The South Korean crypto exchange Bithumb ended its four-month campaign of commission-free crypto trading on February 5. Per Insight Korea, Bithumb began charging a 0.04% fee “for all crypto transactions starting from February 5.” Bithumb vs Upbit: South Korean Crypto Exchange Rivals Go to War?...
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 Financial Authority Director Plans Talks on Spot Bitcoin ETFs with US SEC Chair
5.2.2024
Head of the Financial Supervisory Service, Lee Bok-hyun, is set to visit the United States later this year, intending to engage in discussions with U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler. The agenda of the meeting is expected to encompass various aspects of the crypto...
South Korean Regulators Turn up Heat on ‘Gangnam Style’ PSY’s NFT Concert Ticket Sales
5.2.2024
The singer of “Gangnam Style,” PSY, could be set for an NFT clash with regulators in his native South Korea. Per Biz World, the singer’s entertainment agency P Nation launched an NFT-powered pre-sale project for PSY’s concert tour in 2023. No NFT Joy for ‘Gangnam Style’ PSY? In October 2022,...
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...