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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
South Korea’s Ruling Party Hints at Increased Crypto Leniency
4.8.2021
The ruling South Korean Democratic Party’s crypto task force is discussing a plan to “institutionalize corporate transactions” on crypto exchange platforms with the nation’s nine leading exchanges – a further sign, perhaps of an impending regulatory climbdown.
More details of a key meeting held...
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
Signs of a Crypto Regulatory Climbdown from South Korea’s Ruling Party
28.7.2021
South Korean ruling party’s crypto task force has met with a number of major domestic crypto exchanges – an indication that it could advise the government to revise or even soften its hardline policy on regulation.
As reported, the next South Korean presidential election is scheduled to take place...
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...
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
South Korea to take action against unregistered crypto exchanges
22.7.2021
Crypto exchanges operating in the country that do not register by September 24 face potential fines or even jail time
Bank of Korea selects Kakao’s blockchain arm for digital won tests
20.7.2021
ConsenSys, a major Ethereum software company, will contribute its technology to South Korean CBDC simulations led by Ground X
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
New Samsung service Paperless adds document disposal to enterprise blockchain
13.7.2021
Samsung SDS has launched a new cloud-based blockchain service called Paperless to address forgery and falsification problems in documents
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
Tech Titans Kakao, Naver and SK in Battle to Test South Korean CBDC
12.7.2021
Some of South Korea’s biggest tech and telecommunications giants will duke it out for the right to pilot the central Bank of Korea (BOK)’s forthcoming digital won.
Per KBS and Chosun, the bidding process has become a “three-way battle” between the search engine and chat app operator Naver, the chat...
Woori becomes latest major Korean bank to announce crypto custody services
12.7.2021
An increasing number of leading South Korean banks are establishing joint ventures with minor ownership to enter the crypto custody market while complying with local regulations
Get Paid for Excrement: This Eco-Friendly Toilet Pays You in Digital Currency
11.7.2021
An eco-friendly toilet that pays people in digital currency for using it has been installed at a university in South Korea. The toilet is connected to a laboratory that uses excrement to produce biogas, which is used as a source of energy at the university. Get Paid in Digital Currency to Use...
‘Poopcoin’: Korean professor uses bio-waste to mine crypto
9.7.2021
Students in a South Korean college are earning crypto mined from the energy generated from their excrement
Korean investigation finds $1.48B in illegal overseas crypto transactions
8.7.2021
More than 30 people are facing fines and prosecution in South Korea for allegedly contravening the country’s ban on overseas crypto transactions