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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
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
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...
S Korean Banks to Probe Exchanges’ Privacy Coin Policies in Risk Checks
10.7.2021
South Korean banks are set to take into account crypto exchanges’ privacy coin policies, the nationality of their customers, and the criminal history of employees, classing these as “high priority” items when conducting risk assessment checks on whether to partner with trading platforms.
As...