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South Korea’s Second-Largest City Aims to Become a Crypto Hub
15.2.2023
South Korea’s second-largest city, Busan, is making efforts to become a crypto hub. Busan has been designated by the Korean government as a “super-aged” city, and its officials believe that crypto could help turn things around by attracting young people, tech startups,...
South Korean YouTuber Received “Millions of Dollars” Worth of Undeclared Crypto Income
15.2.2023
A South Korean YouTuber received “millions of USD” worth of undeclared crypto income, tax officials have stated – following a recent crackdown on social media-based “tax dodgers.”
KBS reported that the National Tax Service (NTS) has launched an “intensive tax investigation” into 84 people...
Seoul Sanctions North Korea Over Crypto Theft
12.2.2023
South Korea has imposed sanctions on the North in relation to a number of cyberattacks often resulting in the theft of cryptocurrency. The authorities in Seoul say the regime in Pyongyang is using the digital assets to fund its nuclear and missile development projects. South Korea Hits North Korean...
South Korean officials traveled to Serbia to find Do Kwon
8.2.2023
The South Korean prosecutor's office reportedly admitted that the reports one of its team visited Serbia “aren’t false.”
North Korea Stole Record Amount of Crypto Assets in 2022, UN Report Unveils
8.2.2023
The regime in North Korea has managed to steal more cryptocurrency last year than in previous years, according to a draft U.N. report. Despite the difference between quoted estimates, the authors conclude that 2022 was a record-breaking year for crypto theft, to be blamed on the hermit state....
South Korean Officials Traveled to Serbia to Locate Terra's Do Kwon
7.2.2023
A group of South Korean officials has traveled to Serbia in a bid to locate Do Kwon, the co-founder of Singapore-based Terraform Labs, the parent company of crashed stablecoin TerraUSD.
According to a Tuesday report by Bloomberg, a team of South Korean officials went to Serbia last week to seek...
South Korean CEO Jailed for ‘Misappropriating’ Partner Firm’s Ethereum Funds
7.2.2023
A South Korean CEO has been sentenced to five years in prison for “misappropriating” $2.4m worth of ethereum (ETH) from a partner company.
Per the media outlet Delight, the 43-year-old man, identified only by his surname (Chae), is the head of a “marketing agency” that deals with crypto funds....
South Korean regulator provides guidance on security tokens
6.2.2023
Digital assets that fit the descriptions for security tokens will be regulated under the country's Capital Markets Act
Binance Returns to Korean Crypto Market — Invests in Troubled Exchange Gopax
4.2.2023
Binance has returned to the South Korean cryptocurrency market after two years with a “meaningful” investment in a local, licensed crypto exchange. Gopax fell into trouble following the collapse of crypto exchange FTX and the bankruptcy filing of crypto lender Genesis Global. Binance...
Former Chairman of South Korean Crypto Exchange Bithumb Arrested: Report
2.2.2023
Kang Jong-hyun, a former chairman at South Koean cryptocurrency exchange Bithumb has been arrested on Thursday
South Korean Prosecutors Arrest Executive Linked to Crypto Exchange Bithumb: Report
2.2.2023
Kang Jong-hyun, a former chairman at South Koean cryptocurrency exchange Bithumb has been arrested on Thursday
South Korean Regulators Set to Carry out ‘Regular’ Crypto Firm Probes
31.1.2023
South Korean financial regulators will start conducting “regular” on-site inspections at domestic crypto firms this year. And they say they will investigate not only exchanges, but also wallet operators and crypto custody-related firms.
The announcement was made by the top financial regulator,...
Korean Government to Adopt Cryptocurrency Tracking System Within 5 Months
31.1.2023
The South Korean government will adopt a cryptocurrency tracking system within the first half of this year, the country’s Ministry of Justice reportedly announced. The tracking system will be used to monitor and analyze crypto transactions, particularly to uncover the sources of illegal...
Crypto Exchange Bithumb Raided in South Korean Price Manipulation Probe: Report
27.1.2023
South Korean prosecutors are investigating transactions related to a specific person or entity moving the price of a certain coin to make a profit
South Korean Lawmakers Are Gearing Up to Regulate Crypto. What Could That Look Like?
26.1.2023
The 300 members of South Korea’s National Assembly are currently considering 17 separate crypto-related proposals, from which they hope to shape the Digital Asset Basic Act
Crypto Exchange Bithumb Owner’s Arrest Requested by South Korean Prosecutors: Report
25.1.2023
Kang Jong-Hyun and his sister are under investigation for embezzlement related to tax evasion allegations against Bithumb
South Korean prosecutors request arrest warrant for Bithumb owner: Report
25.1.2023
One of the country’s largest crypto exchanges has fallen under investigators’ scrutiny over allegations of embezzlement by company executives
Multiple South Korean Firms Reportedly ‘Preparing Security Token Offering Platforms’
17.1.2023
A number of South Korean firms are preparing to launch security token offering (STO)-related services this year. And they are hopeful that regulators will give them the green light to get started this month.
Busan Ilbo reported that a number of major domestic companies are now keenly awaiting...
Bithumb ordered to pay outage damages to investors by South Korean court
16.1.2023
A ruling from local courts has Bithumb liable to pay just over $200,000 in damages to the 132 investors which filed against the cryptocurrency exchange
Korean Court Orders Crypto Exchange to Pay Customers Suffering From Service Outage
16.1.2023
South Korea’s supreme court has upheld the ruling for Bithumb, the country’s largest cryptocurrency exchange, to pay damages to more than a hundred customers who filed a lawsuit claiming they suffered financial losses resulting from the exchange’s service outage. Bithumb...