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South Korea Doubles Down on Metaverse, Announces $51 Million Investment in Related Projects
11.3.2023
The Ministry of Science and ICT of South Korea has approved investments of $51 million in various metaverse projects, doubling down on its metaverse bet for the future. The investment includes a fund for supporting the growth of metaverse companies and another special investment to build several...
S Korean Regulator Launches Crypto Trading Platform Probe – Which Exchanges Are Involved?
10.3.2023
South Korea’s top financial regulator, the Financial Services Commission (FSC), has begun a “comprehensive inspection” of the nation’s crypto exchanges.
Per Decenter, Financial Services Commission (FSC) specifically wants to probe the 20 trading platforms that do not have licenses to trade fiat...
South Korean Police Arrest Girl Aged 14 for Buying Crystal Meth with Crypto
8.3.2023
A 14-year-old South Korean girl has been arrested on suspicion of using cryptoassets to buy methamphetamine (crystal meth).
Per Dong-a Ilbo, the girl is a third-grade middle school student who lives the in Dongdaemun District of Central Seoul. Police say she was found “collapsed” on a stairwell...
South Korean Police Form New Crypto Scam-fighting Cybercrime Taskforce
7.3.2023
South Korean police have announced that they will launch a new crypto scam-busting cybercrime taskforce.
KBS reported that police say that one of the new taskforce’s “three main tasks” will be dismantling and fighting crypto scams. Crypto-related fraud is on the rise in South Korea, with several...
South Korea saw over $4B in unregistered crypto transactions in 2022
7.3.2023
The money was aimed primarily at buying foreign crypto assets with the intention of selling them on the domestic market
45% of S Korean Crypto Users Predict a Bitcoin Price Rise This Week
6.3.2023
Almost half of South Korean crypto holders think Bitcoin (BTC) prices will rise this week, a survey has found.
The survey was conducted by the researcher Pharos Labs (Kratos) and the crypto market information provider Coinness – and reported by the media outlet CoinReaders. The firms said they...
Upbit Operator Denies it Wants to Buy a Securities Firm
28.2.2023
Dunamu, the operator of Upbit, South Korea’s biggest crypto exchange, has denied it is poised to buy a securities company – and says it is instead eyeing non-fungible token (NFT) expansion.
The operator has recently been linked with a takeover move for an unnamed domestic securities provider....
South Korean Regulator Is Probing Crypto Staking Services
24.2.2023
A top South Korean financial regulator has launched a probe into domestic crypto staking services. And crypto exchanges are concerned this means new staking-related regulations could be incoming.
The media outlet News1 reported that the Financial Supervisory Service (FSS) has “recently requested”...
SEC Filing ‘May Help South Korean’s Prosecutors’ Do Kwon Case’ – Report
24.2.2023
The US Securities and Exchange Commission (SEC)’s legal filing against Terraform Labs and its CEO Do Kwon “could help South Korean prosecutors’ case against Kwon,” a report has claimed....
Read More: SEC Filing ‘May Help South Korean’s Prosecutors’ Do Kwon Case’ – Report
Sharp Rise in Dating App-based Crypto Mining Scams in South Korea
23.2.2023
There has been a rise in scams that use dating apps to lure victims onto bogus crypto mining platforms, a South Korean security provider has claimed.
Per EDaily, the claims were made by the regulation technology developer and security provider Uppsala Security. The firm said that scammers are...
South Korean Police Arrest 30 in $8m ‘Crypto Scam’ Bust
22.2.2023
South Korean police have arrested 30 people as part of an investigation into a suspected $ 8 million crypto scam. Masterminds appear to have promised investors “guaranteed gains” of up to 2,000%....
Read More: South Korean Police Arrest 30 in $8m ‘Crypto Scam’ Bust
South Korean Prosecutors Applaud ‘Meaningful’ US Do Kwon Charges
20.2.2023
South Korean prosecutors have applauded “meaningful” charges brought against Do Kwon, the Co-founder of Terraform Labs, by the top American financial regulator....
Read More: South Korean Prosecutors Applaud ‘Meaningful’ US Do Kwon Charges
South Korea’s Kimchi premium turns to discount
20.2.2023
The "Kimchi premium" has flipped to discount again, and could be saying something about crypto market sentiment, at least in South Korea
Terra lawsuit a ‘roadmap’ to attack other stablecoins: Delphi Labs
17.2.2023
Delphi Lab's general counsel said the SEC was being "more thorough than usual" in its lawsuit against Terraform Labs and its co-founder Do Kwon
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...
South Korea to examine crypto staking services following the Kraken case
15.2.2023
No details on the timeline and methods of the examination were provided, but reportedly it would be conducted moderately as no wrongdoings have been registered in the country
South Korea’s Crypto Firms Will Have to Self-Regulate Under New Guidance
15.2.2023
Crypto firms will conduct their own self-assessments before regulators step in, a lawyer in South Korea told CoinDesk
Today in Crypto: UK Goes After Unregistered Crypto ATM Operators, S. Korea Watching the Ripple-SEC Battle, Silvergate Execs Investigated by Law Firm, Bitget to Collaborate on CBDCs
14.2.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: UK Goes After Unregistered Crypto ATM Operators, S. Korea Watching the Ripple-SEC Battle, Silvergate Execs...
Regulation comes for crypto staking: Law Decoded, Feb. 6–13
13.2.2023
Even the SEC Commissioner has publicly rebuked her agency over the shutdown of Kraken’s crypto staking program