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South Korea’s small crypto exchanges face increasing regulatory heat
14.6.2021
Stringent regulatory policies in South Korea could force many small- and medium-sized crypto exchanges out of the country
Korean banks will need to classify crypto exchange clients as ‘high risk’
14.6.2021
A further tightening of cryptocurrency regulation in South Korea is underway, with new rules for banks and crypto exchange operators
RNS Solutions & Trustedchain Are Developing Blockchain FinLit Platform for Islamic Development Bank
14.6.2021
PRESS RELEASE. Pakistan: RNS Solutions Pte Ltd., the leading blockchain software development company from Pakistan, Korea, and Singapore this week announced a formidable partnership with the ICD-Islamic Development Bank Group, a multilateral development bank that promotes social and economic...
Alleged $3.6B crypto Ponzi's 'victims' still believe the exchange is legit
10.6.2021
Some of those caught up in an alleged $3.6 billion crypto Ponzi scheme are refusing to aid police investigations as they still expect to triple their investments
South Korea To Ban Exchange Insiders from Trading on Own Platforms
8.6.2021
The top South Korean financial regulator is set to launch a fines system for insider trading, and will move to block exchange staff from using their own platforms to perform crypto trades.
Per Chosun, the regulatory Financial Services Commission (FSC) is “pushing” the government to accept its plan...
South Korea moves to ban cross trading for crypto exchanges
7.6.2021
South Korean crypto exchanges are groaning under a new proposal that will prevent them from converting trading fees to fiat currency
Lawsuit Accuses Korean Crypto Exchange of $3.5 Billion Scam, Tens of Thousands Defrauded
5.6.2021
A class action lawsuit has been filed in South Korea accusing cryptocurrency exchange V Global of defrauding investors. The police reportedly estimate that 69,000 people have invested with the crypto exchange and the damage amounts to 3.8 trillion won. Crypto Exchange Sued for Defrauding Investors...
South Korea’s Financial Regulator Holds Closed-Door Meeting With 20 Crypto Exchanges
5.6.2021
Regional reports disclose South Korea’s Financial Services Commission (FSC) had a closed-door meeting with roughly 20 different cryptocurrency exchanges on June 3. The report highlights that virtual asset business operators (VASPs) that attended the meeting all had ISMS (Information Security...
South Korean regulators parley with 20 crypto exchanges
4.6.2021
The FSC is in dialogues with South Korea’s crypto exchanges amid expanded regulatory oversight
Bank account flows for South Korean crypto exchanges surge 40% since 2020
1.6.2021
Upbit exchange paid 10 times more in fees to South Korean internet bank K bank Q1 2021 than in the previous quarter
South Korean Financial Supervisory Service Tasked With Crypto Market Oversight
31.5.2021
The Financial Supervisory Service of South Korea will lead government efforts to oversee the country’s expanding cryptocurrency market. The agency has been tasked with the job after prolonged discussions over which Korean regulator should be responsible for the industry. Financial Supervisory...
Former Regulators Moving Into Crypto: South Korea vs US
29.5.2021
A South Korean politician has waded into the debate about the unnamed senior financial regulator who wants to quit his job to join Upbit, the domestic market-leading crypto exchange. In contrast, no such issues appear to have got in the way of crypto firms in the United States.
The regulator,...
Korean gov't clarifies crypto regulatory roles of different agencies
28.5.2021
After some confusion, South Korea's government has laid out which state and regulatory bodies are charged with the oversight of various aspects of crypto-related activities
Korea’s crypto market is among the strongest — and the strangest — in the world
25.5.2021
Between strict capital controls and regulations, Korea’s cryptocurrency industry is so closed off that Bitcoin commands a steep premium and DeFi is in its infancy
Bank of Korea Seeking Technology to Develop Digital Currency
25.5.2021
South Korea’s monetary policy regulator is taking steps to create its own digital coin. Bank of Korea is now looking for a technology provider to develop a test environment for the project. The news comes after major commercial banks expressed skepticism over their cooperation with domestic...
South Korea’s ‘Kimchi Premium’ Returns, BTC Prices Up 8% Higher Than Global Average
24.5.2021
As cryptocurrency regulation heats up worldwide, South Korean officials have been increasing regulatory discussions concerning the swelling crypto economy. While digital currency markets like bitcoin have tumbled in value in recent times, global crypto market prices have increased across the board...
South Korean Governor Becomes the First Politician to Disclose Publicly His Cryptocurrency Holdings in the Country
22.5.2021
Regardless of the political turmoil that arose in South Korea due to the crypto-related regulations, a leading politician had come forward to reveal that he had made investments in virtual currencies publicly. Won Hee-ryong, the Governor of Jeju Island, unveiled that he invested in four different...
South Korean Deputy Prime Minister Eases Anti-Crypto Rhetoric, Aims to Create More Domestic Market Opportunities
21.5.2021
The South Korean government seems to be easing its anti-crypto tone, as the Deputy Prime Minister came forward with a statement that opened the doors for future open dialogue on virtual currency topics. Hong Nam-ki unveiled that officials are assessing ways to get young people into “domestic...
Bitcoin $5K ‘kimchi premium’ returns while gold prices surge in Korea
19.5.2021
Bitcoin is trading at 12.5% higher in South Korea than in other markets, while gold prices climb to quarterly highs
South Korean Ministries ‘Do Not Want’ to Take Charge of Crypto-Related Regulation, Claims Official
18.5.2021
The crypto regulation crisis is on fire in South Korea, as politicians have struggled to reach agreements with top government officials to ease rulings. A local media outlet reveals that South Korean ministries “do not want” to take charge of the country’s digital assets’...