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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...
South Korean Software Giant AhnLab Unveils Crypto Wallet
12.1.2023
The South Korean software giant AhnLab has released a crypto wallet – becoming the latest in a long line of the country’s IT players to move into the space.
Per iNews24, AhnLab, the largest computer security company in South Korea and the brainchild of the tech entrepreneur and presidential...
Crypto Exchange Operator Bithumb Investigated by South Korean Tax Authorities: Report
10.1.2023
The former chairman of Bithumb Holdings was recently acquitted of fraud charges
South Korean regulators target Bithumb in new probe
10.1.2023
South Korean National Tax Service agency launches an investigation on Bithumb, according to local reports
South Korean Prosecutors Fail in Bid to Jail Ex Bithumb Boss
4.1.2023
South Korean prosecutors have been thwarted in their efforts to send the former head of the crypto exchange Bithumb to prison for eight years.
Per TVChosun, a branch of the Seoul Central District Court acquitted Lee Jung-hoon on fraud charges. Lee had been accused of wrongdoing in a case dating...
Binance Reportedly Close to Sealing Deal for South Korean Exchange Gopax
3.1.2023
Binance is allegedly close to sealing a deal to buy a majority stake in the South Korean crypto exchange Gopax – per multiple domestic media reports. Outlets are claiming that the deal has been agreed in principle. But they note that a few final remaining legal and procedural hurdles still need...
South Korean Hacker Stole $6.7m from Dead CEO’s Crypto Wallets
29.12.2022
A South Korean hacker stole $6.7 million from crypto wallets belonging to the deceased CEO of a business empire that included the crypto exchanges Korbit and Bitstamp.
Yonhap reported that a branch of the District Court in Eastern Seoul sentenced an unnamed 39-year-old man to six years in prison...
Executives from $1.5B South Korean crypto exchange fraud jailed
28.12.2022
The latest court action now takes the number of V Global execs behind bars up to seven, as the CEO, known as Mr. Lee was previously sentenced to a 22 year prison term
Top South Korean Scam Crypto Exchange Exec Given 8-year Jail Sentence
27.12.2022
The top executive at a South Korean scam crypto exchange that duped over 50,000 investors out of a combined $1.7 billion will serve an eight-year jail sentence after a court found him guilty of fraud.
Kyeongin Ilbo and Economist.co.kr reported that the Criminal Division of the Suwon District Court...
Crypto-trading South Korean Soldier ‘Sold Fake Concert Tickets to Fuel Spending’
22.12.2022
South Korean police have charged a man in his twenties with embezzlement and fraud – claiming that, during his military service, he fueled his crypto trading habits by selling bogus concert tickets online.
The man, aged 22 but unnamed for legal reasons, was arrested at the Heungdeok Police Station...
South Korean Tax Officials Have Seized Crypto from 5,741 People
20.12.2022
South Korean tax authorities have seized crypto from 5,741 citizens since 2020. Tax officials say the citizens in question were guilty of tax evasion or defaulting on tax bills.
KBS reported that data was released by the National Tax Service (NTS), following a freedom of information request from...
South Korean court freezes $92M in assets related to Terra tokens
20.12.2022
The CEO of Terraform Labs’ affiliate firm Kernel Labs reportedly held the largest amount in illegal proceeds from Terra
Fugitive Do Kwon Now Staying in Serbia Report Says — Terraform Labs CEO Suggests SBF Is to Blame for UST Depeg
12.12.2022
A new report has claimed that Do Kwon, the fugitive CEO of Terraform Labs, is currently staying in Serbia. The report added that the South Korean government has engaged the Serbian government regarding the matter. Meanwhile, Kwon has accused Sam Bankman-Fried and Alameda Research of orchestrating...
South Korean Court Denies Injunction Against Crypto Exchanges for Delisting Metaverse Token Wemix: Report
8.12.2022
The Wemix token is trading 90% lower than this time last month after it was delisted by several exchanges
Wemix delisting saga continues at South Korean court
8.12.2022
Microsoft-backed video game developer Wemade plans to further continue the legal battle against South Korea's largest crypto exchanges