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Situated in East Asia, South Korea, formally recognized as the Republic of Korea, is distinguished for its rich history, culture, and technological prowess. With its capital, Seoul, nestled in the north, this nation of 51 million people thrives economically, supported by its advancements in various sectors.
South Korea emerges as a prominent player in the realm of Korean cryptocurrency, marrying innovation with stringent regulations. Stay updated on South Korean crypto regulations, dive deep into recent Korean crypto happenings such as CBDC research and the evolving landscape of crypto exchanges in the region. From legislative moves to market trends, here’s your one-stop for all South Korean crypto insights.
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Parataxis Holdings is merging with SilverBox Corp IV in a special purpose acquisition that includes the formation of a NYSE-traded Bitcoin treasury company worth $640 million. In a recent press release, the two companies announced that the deal could “provide…
BTC
Bitcoin
News
South Korean digital bank KakaoBank hopes to cement its place in the stablecoin market and is reportedly reviewing various entry strategies, including a potential won-pegged stablecoin. Local media outlet reports say KakaoBank’s chief financial officer, Kwon Tae-hoon, has confirmed that…
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South Korea’s first Korean won-backed stablecoin was recently launched in a test run by fanC in collaboration with financial software firm Initech. Could this be the start of Korea’s stablecoin bid? On August 5, fanC and Initech unveiled “KRWIN,” the…
News
The CEO of South Korean exchange Bitsonic, Shin Jinwook, has received an extension to his seven-year prison sentence after authorities found evidence of fraud amounting to at least 100 million won or $72,000. On August 5, Judge Seong Gi-jun of…
News
Stablecoin issuer Tether has surpassed South Korea in the number of U.S. treasury bond holders after it issued more assets with total exposure to U.S. Treasuries. How much U.S. debt does the firm hold? According to data from analysis firm…
News
South Korea’s Financial Supervisory Service has verbally instructed local asset managers to limit exposure to crypto-linked stocks such as Coinbase and Strategy in ETFs, citing a 2017 policy that bars institutional investment in virtual assets. According to the Korean Herald,…
News
South Korea’s startup ministry proposed a new law revision that would allow crypto firms to register as venture companies. This reclassification would grant them tax reductions and other benefits. According to a notice published on July 9, the country’s Ministry…
BTC
Bitcoin
News
Moo Deng and Bonk are expected to be in the spotlight this week as Bitcoin bulls attempt to push the bellwether asset toward a new all-time high. The total cryptocurrency market capitalization rebounded 3.5% over the past 24 hours to…
News
Biggest exchange in South Korea is planning to launch its own stablecoin, backed by local currency.
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South Korea’s central bank digital currency project has been put on hold as the regulators turn their attention to fast-tracking the issuance of won-backed stablecoins. According to a Bloomberg report citing an unnamed Bank of Korea official, the central bank…
News
South Korean equities have surged following President Lee Jae-myung’s pledge to permit cryptocurrency assets backed by the won. This has driven intense interest among retail investors in companies associated with digital currency projects. The benchmark Kospi Composite index has gained…
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Shares of Kakaopay dropped sharply after volatile trading as regulators warn of risks tied to widespread stablecoin adoption. Shares of South Korean digital payments firm Kakaopay tumbled as much as 17% on June 27 after trading resumed Thursday, following a…
News
South Korean police have seized up to 4.4 billion won worth of cryptocurrency held by a group of illegal crypto exchange operators profiting off of user platform fees. According to a news report from Yonhap, the authorities raided a syndicate…
ETH
Ethereum
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Gaming blockchain Oasys officially announces their South Korean arm, expanding its operations into the East Asian region with a planned second phase. In a recent press release, the Animoca Brands-backed firm has established its new arm in order to expand…
News
Interest in a won-linked stablecoin is growing in South Korea, and the country’s largest commercial banks are joining forces to issue one through a joint initiative. According to a June 25 report from local media Economic Review, eight of South…
USDT
Tether
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South Korea’s top financial watchdog is taking steps to bring spot crypto ETFs and stablecoin regulation into the mainstream as part of a broader plan to modernize the country’s digital asset market. According to a June 19 report by local…
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