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70% of South Korean Reported Foreign Assets Are Crypto- Here’s More

20.9.2023
South Korea’s crypto adoption grows as authorities disclosed that 70% of the nation’s reported overseas assets are cryptocurrencies. On Sept 20, The country’s National Tax Service (NTS) in an official release stated that 5,419 business and individuals reported their financial accounts with...

South Korean Regulators Eye OTC Crypto Regulation

18.9.2023
South Korean regulators look set to turn their attention to the over-the-counter (OTC) crypto market, with indications regulation could be on its way. The nation has moved to shore up its regulatory system this year in the wake of the so-called “Terra-Luna scandal,” which left thousands...

That Gothic Pinocchio Soulslike Has A Pretty Neat Weapon Durability Mechanic

15.9.2023
Look, if you ask me, weapon durability is some bullshit. It’s ostensibly meant to encourage experimentation, but its implementation in games like Dead Island 2 and The Legend of Zelda: Tears Of The Kingdom does more to create headaches than to inspire some extemporaneous testing of a variety...

South Korea Seeks to Freeze North’s Crypto Assets Under New Law

6.9.2023
The government in Seoul intends to submit new legislation tailored to facilitate the tracking and freezing of crypto used to fund the weapons programs of North Korea. A bill has been drafted after extended consultations between ministries with the aim to make South Korean sanctions more effective...

South Korean Prosecutors Seek Arrest Warrants for Golf Star & Bithumb Exec

31.8.2023
South Korean prosecutors have asked a court to arrest an ex-pro golfer and a top executive at Bithumb, one of the country’s leading crypto exchanges. YTN reported that the Seoul Southern District Prosecutors’ Office’s Financial Investigation Department wants to try golfer Ahn Seong-hyun and...

Authorities order South Korean crypto platforms to maintain reserves

28.8.2023
Crypto exchange platforms in South Korea have been instructed by relevant authorities to maintain reserves with Korean banks. This pertains to the intention of the government to protect those who are venturing out on the path to build a portfolio with digital tokens. Per the instructions, crypto...

South Korean Central Bank Set to Unveil CBDC ‘Blueprint’ Next Month

25.8.2023
The South Korean central bank, the Bank of Korea (BOK), is set to showcase a “blueprint” for its CBDC in September as the nation looks to speed up the progress of its digital KRW. Per Fn News and the Byline Network, the BOK has “successfully completed” a CBDC interoperability-focused pilot...

‘Crypto Debt’ Drove South Korean College Student to Armed Robbery

21.8.2023
A South Korean man has been handed a suspended jail term of almost three years after he was found guilty of armed robbery “to clear a crypto debt.” According to the South Korean media outlet WowTV, the unnamed criminal was 22 years old and had amassed debts of over $37,000 due to “failed...

South Korean Police Arrest 312 in Crypto-powered Drug Trading Busts

16.8.2023
South Korean police are stepping up their crackdown on crypto-powered drug trafficking, and have made 312 arrests in a wide-sweeping narcotics bust. The broadcaster KBS reported that the arrests were carried out by the Seoul Metropolitan Police Agency’s Drug Crime Investigation. The suspects were...

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