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Kimchi ‘Bonus’ Is Back as Korean ‘Ant’ Investors Return to the Market
14.8.2021
South Korean investors are returning to the markets after weeks of inactivity, data has shown. But the kimchi premium has flipped on its head again for the first time in two years – resulting in a small “kimchi bonus,” and slightly lower bitcoin (BTC) and altcoin prices on most major...
Binance Discontinues Crypto Products and Services in South Korea
13.8.2021
On August 13, the cryptocurrency exchange Binance revealed it is ending a great number of services in South Korea. The company noted in the announcement that it evaluated local regulations and “will discontinue the following offerings in Korea, effective immediately.” Binance Ends...
Top Derivatives Exchange Bitget Releases Its Latest Operation Data
12.8.2021
Currently, derivatives exchange Bitget has released its global market penetration plan on Twitter, and at the same time, they published their latest globalization data. Data shows that up to now, Bitget’s global registered users have exceeded 1.6 million, and the user base has extended to...
Dvision Network to Host “Live Debate” on Cryptocurrency Legislation Organized by Korean National Assembly
12.8.2021
PRESS RELEASE. The blockchain-based metaverse Dvision Network is set to become part of history in what promises to be an action-packed event. The NFT metaverse will be hosting the ‘’Live debate’’ on the Cryptocurrency Legislation and Improvement Measures organized by...
South Korean banks doubled crypto transaction fee revenue in Q2
10.8.2021
Shinban Bank, K bank and NH Nonghyup Bank reported a total revenue of 16.9 billion won coming out of partnerships with four crypto exchanges
The Ascent Is Gorgeous But Its Signs Are Nonsense
9.8.2021
The Ascent is a pretty dang good twin-stick shooter, but some Korean-speaking players have taken issue with the cyberpunk game’s liberal (and sometimes downright incorrect) use of the language.Read more
Smaller South Korean Crypto Exchanges Begin to Shutdown, Suspend Services
3.8.2021
A number of smaller South Korean crypto exchanges have announced their imminent closure – throwing in the towel in their struggle to meet a fast-approaching regulatory deadline that is threatening to derail the nation’s crypto trading platform industry.
Per Joongang Ilbo, the latest exchanges...
Korean Regulator to Shut Down 11 Cryptocurrency Exchanges Ahead of Regulatory Deadline
3.8.2021
South Korea’s top financial regulator will shut down 11 cryptocurrency exchanges allegedly engaged in fraudulent bank account schemes, local media reported. Meanwhile, the deadline for all crypto exchanges to comply with the country’s regulation is drawing near and most of them have...
South Korean regulator to reportedly shut down 11 crypto exchanges
2.8.2021
Sources claim that several mid-sized crypto exchanges in South Korea would not be able to get approval from the FSC
South Korea Proposes Law Allowing Direct Seizure and Sale of Crypto Assets to Pay Overdue Taxes
28.7.2021
The South Korean government has proposed an amendment to the tax code to allow the country’s tax authority to seize and sell cryptocurrencies belonging to delinquent taxpayers. “The revision will allow direct seizing without court-approved change in ownership records. Assets held by...
S Korean MP Bids to Prevent ‘Crypto Crisis’ While Kimchi Premium Evaporates
28.7.2021
A South Korean lawmaker wants to throw struggling crypto exchanges a lifeline by forcing an extension to a fast-approaching regulatory deadline – while the so-called kimchi premium is shriveling away to oblivion.
Per EDaily and Hanguk Kyungjae, Cho Myung-hee, an MP from the main opposition People’s...
New rules could permit Korean gov’t to seize tax evaders’ crypto
26.7.2021
South Korea examines ways to expand its tax base, with proposals to strengthen the government’s ability to seize tax evaders’ crypto assets directly from their personal wallets
S Korean Regulator to Force Crypto Overseas Exchanges to Abide by its Rules
23.7.2021
The top South Korean financial regulator has effectively blocked overseas crypto exchanges from operating in the nation if it can be proved they are actively targeting users based on South Korean soil.
According to Chosun and Seoul Kyungjae, the regulatory Financial Services Commission (FSC), which...
South Korean Regulators Warn Dozens of Foreign Exchanges to Comply With New Rules
22.7.2021
Overseas crypto exchanges marketing to Koreans will be blocked if they fail to comply with new South Korean regulations. The country’s anti-money laundering body has sent a notice to a number of foreign trading platforms warning them a registration is mandatory in order to provide services...
Bithumb Terminates Trademark Agreements With 2 Foreign-Based Exchanges
18.7.2021
Leading Korean crypto exchange Bithumb is terminating its trademark agreements with two coin trading platforms operating abroad under its brand name. The move comes as digital asset exchanges in South Korea prepare to comply with the country’s stricter regulations for the industry that will...
South Korean Regulator Analyzing 578 Cryptocurrencies
14.7.2021
South Korea is deliberating on four crypto-related bills for the regulation of cryptocurrencies. “We are currently doing groundwork by searching for and analyzing data on 578 coins that have various forms,” the chairman of the country’s top financial regulator reportedly said....
AML compliance mandatory for foreign crypto exchanges, says Korean regulator
13.7.2021
South Korea’s strict crypto regulatory oversight is now extending to overseas exchanges that offer cryptocurrency trading services denominated in the country’s currency
Korean Regulators Want to Police All Int’l KRW Trading Crypto Exchanges
13.7.2021
All crypto exchanges must apply for trading permits if they are targeting South Korean investors – no matter where in the world they are based, according to Eun Sang-soo, the head of the South Korean Financial Services Commission (FSC), the top regulator for the financial and crypto industries.
As...
South Korean Bank Woori Financial to Offer Crypto Custody Services
13.7.2021
Woori Financial Group, one of the biggest financial conglomerates in South Korea, will offer crypto custody services. The bank will develop a joint venture effort with Coinplug, a blockchain-based developing company. This conglomerate signals the third bank entering the market in the country, after...
South Korean internet giants bid for central bank digital currency pilot
12.7.2021
The Bank of Korea plans to select an operator to run a blockchain-based CBDC pilot next month that will test a digital won in various use cases