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KuCoin & 15 More Crypto Exchanges Face Ire of South Korean Regulator
18.8.2022
Sixteen international crypto exchanges – including KuCoin and the Mexican heavyweight MEXC – have landed in hot water with South Korean financial regulators for failing to comply with local guidelines and allegedly courting domestic clients without operating permits....
Read More: KuCoin & 15 More...
Korean police seize crypto for unpaid traffic fines in trial
18.8.2022
Local police in a suburb of Seoul have the authority to seize crypto in order to clear the balance of delinquent fines from traffic violations
Pay Your Traffic Fines or We’ll Confiscate Your Crypto – S Korean Police Pilot Grants Officers New Powers
17.8.2022
South Korean police have been given experimental new powers that allow them to seize crypto from people who refuse to pay fines – and have already taken tokens from a citizen who failed to pay a traffic fine....
Read More: Pay Your Traffic Fines or We’ll Confiscate Your Crypto – S Korean Police...
Korean regulators investigate banks over $6.5B tied to Kimchi premium
16.8.2022
South Korean financial regulators are looking into the massive amount of foreign remittances of cash that came from crypto exchanges
Bukele Takes a Laugh at South Korean Drama Featuring a Crypto-loving Character Based on Him
10.8.2022
The latest episode of a South Korean drama series about scorned women looking for revenge featured a character based on the El Salvadoran President Nayib Bukele – and the Bitcoin (BTC)-keen leader is looking on the light side.
The drama in question is named “Becoming Witch” and is currently airing...
South Korean Web 2 Metaverse Platform Zepeto Gets a Web3 Makeover
10.8.2022
The new platform, which is being built on the Solana blockchain, is a collaboration between Naver-owned Zepeto and Jump Crypto, the cryptocurrency arm of U.S.-based Jump Trading
Report: Samsung Signs MOU to Build Galaxy NFT Ecosystem
10.8.2022
Korean electronic goods producer Samsung Electronics recently signed a memorandum of understanding (MOU) with six companies that will collaborate to build the Galaxy NFT ecosystem. Galaxy NFT Ecosystem South Korean electronics maker, Samsung Electronics, recently signed a memorandum...
Korean Blockchain Project Klaytn Commits $20M to Asian Universities for Blockchain Research
9.8.2022
The funding will to support industry research at two of Asia’s highly ranked technology schools
Axie Infinity looking to 'double-down' on Korean market: KBW
9.8.2022
Sky Mavis co-founder and growth lead Jeffrey Zirlin says Axie Infinity wants to double down in South Korea, which they see as one of the most important gaming markets in the world
US Government Bans Ethereum Mixer Tornado Cash, Platform Added to OFAC’s SDN List
8.8.2022
On Monday, the U.S. Treasury Department’s watchdog the Office of Foreign Asset Control (OFAC) banned the ethereum mixing application Tornado Cash. OFAC has cited that the mixer has helped North Korean hackers such as the hacking syndicate known as Lazarus Group. OFAC Sanctions Tornado Cash...
Crypto.com Receives South Korean Regulatory Licenses After Buying Local Firms
8.8.2022
The firm did not disclose the deal size
Debridge Finance Suspects North Korean Hacking Syndicate Lazarus Group Attacked the Protocol’s Team
6.8.2022
According to the co-founder of Debridge Finance, Alex Smirnov, the infamous North Korean hacking syndicate Lazarus Group subjected Debridge to an attempted cyberattack. Smirnov has warned Web3 teams that the campaign is likely widespread. Lazarus Group Suspected of Attacking Debridge Finance Team...
South Korean Banks May Be in Trouble as Regulator Probes Kimchi Premium Bitcoin ‘Irregularities’
4.8.2022
South Korean banks could find themselves in the firing line after the government, media outlets, and regulators stepped up the scrutiny of the banks' role in enabling kimchi premium traders to make fast money when trading volumes rise....
Read More: South Korean Banks May Be in Trouble as Regulator...
Tax Agency Vows to Go Hard After Koreans Using Crypto to Evade Levies
3.8.2022
South Korea’s tax administration has pledged to take strict measures against tax evasion through virtual assets and platforms. While the Korean government is yet to start taxing capital gains resulting from crypto investment and trading, authorities in Seoul claim cryptocurrencies have been...
South Korean Prosecutors Wrap up Terra Raids on Exchanges, Tech & VC Firms
2.8.2022
A more than week-long prosecution raid of South Korean crypto exchanges and companies linked to Terraform Labs has finally come to an end, with officers admitting that finding the information they were after was challenging.
As reported, the Seoul Southern District Prosecutors’ Office-run Joint...
Ethereum Classic Climbs 124% in 2 Weeks, Hashrate Spikes, KRW Captures 20% of ETC’s Trade Volume
28.7.2022
Roughly six years ago in July 2016, an Ethereum hard fork was used to address the infamous DAO hack. This specific fork saw the chain split into two factions, and a new crypto asset called ethereum classic was introduced to the crypto community. For years now both chains have co-existed using...
FTX in Talks to Buy South Korean Crypto Exchange Bithumb: Report
26.7.2022
Bithumb’s parent company is considering both an outright sale or entering into joint ownership
Report: South Korean Prosecutors Raid Home of Terraform Labs Co-Founder
25.7.2022
A team of South Korean prosecutors recently raided the home of Terraform Labs co-founder Shin Hyun-seong. During an earlier raid that targeted 15 places, including seven cryptocurrency exchanges, the prosecutors reportedly secured terra transaction data. Seven Cryptocurrency Exchanges Targeted...
Prosecutors Raid Home of Terra Co-Founder Daniel Shin as Do Kwon Returns to Twitter
22.7.2022
The South Korean prosecution service’s recent raid of 15 locations as part of the probe into the “Terra (LUNAC) incident” saw officers search the home of the Terraform Labs co-founder Daniel Shin.
Prosecutors are widely reported to be looking at evidence pertaining to figures at the top of...
South Korean Prosecutors Raid Terra Co-Founder Daniel Shin's Home: Report
22.7.2022
South Korean authorities are continuing their investigation into fraud allegations at the center of the Terra collapse