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Majority of Korean crypto exchanges to shut down this month, insiders say
13.9.2021
Failure to meet South Korean regulators' new requirements is expected to wipe out tens of crypto exchange operators
Major Korean Exchanges Secure Real-Name Account Arrangements With Local Banks
10.9.2021
Leading cryptocurrency exchanges in South Korea have reached agreements with Korean banks to maintain the issuance of real-name accounts, media reports revealed. The deals, although not yet permanent, will allow the trading platforms to register with financial authorities before the Sept....
South Korea: Four Exchanges Safe but USD 2.6B Closure Storm Brewing
10.9.2021
To do so, they need to fulfill a number of criteria, including securing information security management system (ISMS) certification and real-name authenticated banking contracts for their customers. The latter has proved extremely problematic for most exchanges.The market leader Upbit last
Korean crypto ‘Jedi Master’ plans to launch second VC blockchain fund
8.9.2021
Blockchain VC investment firm Hashed is seeking $173 million for a second fund
Bithumb to Ban Foreign Traders Failing Mobile Phone Identification
4.9.2021
South Korean crypto exchange Bithumb said it will deny access to foreigners unable to verify their identities via mobile phone. The decision comes as the trading platform moves to comply with the country’s updated regulations coming into force later this month. Korean Exchange Bithumb...
Bithumb crypto exchange reportedly bans foreigners without mobile KYC
3.9.2021
Bithumb’s stricter KYC requirements come in line with South Korea’s tightened Anti-Money Laundering regulations regarding foreign users of crypto exchanges
Leading South Korean telecom firm adopts blockchain for carbon ambitions
2.9.2021
South Korean telecommunication giant KT Corp announced its intent to launch a blockchain digital document initiative to tackle carbon emissions
30-somethings led crypto purchases at South Korean exchanges in 2021
30.8.2021
The increased trading volume comes following the country's Financial Services Commission requiring crypto trading platforms to register as digital asset service providers before Sept. 24
Korea’s FSC Chairman Nominee Skeptical Over Cryptocurrency as Financial Asset
26.8.2021
A former central bank official, nominated to head South Korea’s financial watchdog, has expressed skepticism about recognizing cryptocurrency as a financial asset. In comments to a parliamentary committee, Koh Seung-beom has confirmed his views on the matter align with those of international...
24 Crypto Exchanges to Close in South Korea – and 18 More Could Follow
26.8.2021
Only a third of South Korean crypto exchanges have met the “minimum requirements” to register with the financial regulator ahead of next month’s deadline – with 24 already all but confirming they will close. But political pressure is mounting on the regulator, with a growing group of MPs pushing...
South Korea Abolishing Controversial Gaming Shutdown Law
25.8.2021
After ten years, South Korea is banning its “shutdown law” that banned children under the age of sixteen years old from playing video games for a six-hour block after midnight.Read more
Korean FSC chair nominee doesn't think crypto is a financial asset
25.8.2021
Seung-beom Koh said that fintech experts across the globe “find it difficult to see virtual currencies as a financial asset."
A Crypto ‘Coin Run’ Could Be Brewing in South Korea
24.8.2021
A leading South Korean media outlet and industry experts have warned that a “coin run” could take place next month as the likelihood of a mass of crypto exchange closures increases.
In a video report, the national broadcaster KBS reported that a glut of crypto liquidations could be on the cards...
Upbit reportedly first crypto exchange to file with Korean regulators
23.8.2021
Upbit is one of South Korea’s largest cryptocurrency exchanges alongside Bithumb, Coinone and Korbit — who are collectively referred to as “The Big Four.”
Crypto Exchange Bitfront Said to End Korean Services Ahead of Tough New Regulations
18.8.2021
U.S.-based crypto trading platform Bitfront is going to discontinue services in South Korea before stricter rules for the industry are enforced in September, Korean media reported. The exchange, a subsidiary of Japanese tech giant Line, is currently available to Korean traders. Line’s...
All of South Korea’s Crypto Exchanges Fail their Regulatory Audits
17.8.2021
South Korean crypto exchanges have been dealt another crushing blow – with all of the nation’s trading platforms failing their regulatory “consulting” audits.
The development will not bode well for the sector with just over a month to go until new regulations kick in – with even the “big four”...
Korean internet giant Kakao expands blockchain presence to Singapore
16.8.2021
Kakao wants to keep up with the enterprise blockchain competition in Asia as it eyes expansion to Singapore
Binance halts KRW pairs amid tightening crypto exchange regulations in Korea
13.8.2021
The crypto exchange giant said the decision was part of efforts aimed at proactive compliance with regulatory demands
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...
South Korea’s crypto regulation is now expanding to foreign businesses
13.8.2021
Any overseas activity outside Korea that has domestic effects or consequences shall be subject to the amended crypto regulation