Korea News

The U.S. Treasury is pushing to expand its powers to increase oversight of cryptocurrency service providers, including foreign ones.

Binance reportedly plans to reduce its stake in Korean crypto exchange Gopax within the next two months to address regulatory reporting issues. Crypto exchange Binance, the major shareholder of Korean crypto trading platform Gopax, is set to reduce its stake…

The office of the President of South Korea called on the country’s financial regulator to reconsider the possibility of admitting spot Bitcoin (BTC) ETFs to trading in the country. Previously, the local Financial Services Commission warned South Korean companies that…

The South Korean authorities plan to strengthen control over cryptocurrency mixers following the United States. On Jan. 15, local media in South Korea reported that the Financial Intelligence Unit (FIU) of the Financial Services Commission was considering introducing virtual asset…

South Korea’s National Assembly has officially approved new legislation to safeguard users of virtual assets and amend the country’s capital market law. It prohibits unjust trading practices and provides user protection.  The “Capital Market and Financial Investment Business Act” has…

Four employees of South Korean crypto exchange Coinone have been indicted for allegedly employing illegal methods to amass profits exceeding 2.98 billion Korean won.

The Central bank of South Korea will over see cryptocurrency regulation according to local reports. However the move has received much criticism from the Financial stability commission.

Korean authorities have seized over $150 million from people suspected of making unfair gains from Terraform labs.  After the dramatic fall of Terra last year, regulators have been working hard to compensate those who lost. Based on reports, the prosecution…

Alchemy has raised $10 million in its latest funding round with DWF Labs, at a valuation of $400 million. The amount will enable the expansion of Alchemy Pay into the Korean market. Alchemy Pay, a Singapore-based crypto payment gateway that…

A group of Korean exchanges recently announced guidelines for listing and relisting tokens. 

Upbit released a notice to the public following the flagging of WAVES as an “Investment warning” by the Korea Federation of Exchanges.

South Korean lawmakers from the opposition People Power Party (PPP) are formulating a bill aimed at postponing the January 1, 2022 implementation of the 20-25 percent crypto tax law in the nation to 2023. The politicians also plan to revise…

According to an official announcement made by the South Korean branch of OKEx, the popular exchange will delist five privacy coins as early as October 10, 2019. Complications for Privacy Coins Trading of Monero (XMR), Dash (DASH), ZCash (ZEC), Horizen…

In an attempt to establish clarity about cryptocurrency and ICO regulations in the country, South Korea has called for an extraordinary National Assembly session to discuss the emerging crypto and blockchain industry. The meeting commenced on August 21, 2018, with…

Cryptocurrency exchanges are currently having a difficult time taking out an insurance policy due to security problems and countless cyberheists. Cryptocurrency Firms and Insurance According to Business Korea, cryptocurrency exchanges are currently in negotiations with insurance companies. The Korean Blockchain…

South Korea looks to blockchain technology to provide its next-generation digital identification system, according to a report on Korea JoongAng Daily. The new system proposed by the Korean Federation of Banks (KFB)  called BankSign, is a direct response to the…