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Nalezeno "Korea crypto": 82

South Korea Plans to Block Unlicensed Crypto Exchanges

12.2.2024
South Korea plans to conduct virtual asset exchange inspections to expel ineligible platforms later this year. Authorities are contemplating an advanced suspension system for suspicious transactions. This would rapidly prevent the concealment of illicit funds during all stages of the investigation...

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)....

North Korea-Affiliated Hackers Stole $600 Million in 2023 — Ten Times More Damaging Than Anyone Else

10.1.2024
North Korea-affiliated hackers stole digital assets worth $600 million in the past year. According to a TRM Labs report, this figure will likely rise to $700 million if additional attacks which occurred at the tail end of the year are traced to the same hackers. North Korea and its affiliates...

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...

IMF Chief Calls for Clear Crypto Regulation — Warns High Crypto Adoption Could Undermine Financial Stability

16.12.2023
The head of the International Monetary Fund (IMF) has called for clear crypto regulations worldwide, cautioning that high crypto adoption could undermine macro-financial stability. “Our goal is to make a more efficient, interoperable, and accessible financial system by providing rules...

South Korean Regulator to Establish Standards for Issuance and Distribution of Crypto

18.10.2023
South Korea’s Financial Supervisory Service (FSS) is looking to establish comprehensive guidelines for the issuance and distribution of cryptocurrencies to enhance the Virtual Asset Users Protection Act passed earlier this year. Under this new legislation, authorities are mandated to formulate...

South Korea's Crypto Market Cap Nearly Doubles in First Half of 2023, Surpasses $21 Billion

9.10.2023
South Korea's virtual asset market has experienced a significant surge during the first half of 2023, reaching a total market cap of $21.1 billion. The Financial Services Commission (FSC) of South Korea revealed that the country's crypto market cap witnessed a 46% increase compared to the previous...

South Korean Overseas Crypto Holding Figures 'May Be Inflated': Report

3.10.2023
The research division of the South Korean crypto exchange Korbit revealed that the amount of overseas digital assets reported by domestic corporations and individuals to the National Tax Service, “may be inflated.” The significant value of the reported amount is probably pumped up during...

S Korean Crypto Exchange Exec Jailed for Coin Price Manipulation

27.9.2023
A South Korean court has jailed a former senior executive of the crypto trading platform Coinone for taking bribes in exchange for listing altcoins. The Seoul Southern District Court sentenced an individual surnamed Jeon (age 41) to four years in prison, Newsis reported. Jeon was the former...

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 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...

South Korean Crypto Exchanges Mandated to Maintain Reserve Funds of $2.3 Million

28.8.2023
South Korean cryptocurrency exchanges will be required to maintain a reserve fund of at least 3 billion won (approximately $2.3 million) in designated bank accounts starting September. The new regulations for crypto exchanges are aimed at enhancing user protection in the event of unforeseen...

New Report Suggests About 8,000 Korean Residents May Lose Digital Assets Over Tax Evasion

22.8.2023
Financial regulators in the South Korean city of Cheongju are set to confiscate digital assets from local tax evaders. According to a report on Aug 22 by Yongap, a local news agency, the authorities of the city have set plans in motion to clamp down on virtual asset holders in centralized...

US Senators Press Biden Administration for Measures to Counter ‘Serious National Security Threats’ Linked to North Korea, Crypto

8.8.2023
U.S. senators have pressed the Biden administration for measures to counter “serious national security threats” posed by North Korea’s dependence on cryptocurrency. According to the lawmakers, North Korea is using crypto “to evade harsh sanctions and support its ambitions to project...

South Korea To Require Firms To Disclose Crypto Holdings Starting 2024

12.7.2023
South Korean firms that hold or issue cryptocurrencies will be required to disclose information about their transactions to the financial regulator starting next year. The Financial Services Commission (FSC) of South Korea announced Tuesday that domestic companies that engage with crypto will have...