South Korea News

The South Korean won has surpassed the U.S. dollar as the leading currency for trading crypto worldwide. 

In Q1 2024, Korean crypto markets witnessed their highest trade volume in over two years, with KRW overtaking USD in cumulative trade volume, Kaiko says. Trade volume in Korean crypto markets soared to its highest level in over two years…

Another twist in the extradition saga of Terraform Labs founder Do Kwon revealed that the forgery convict will not return to his native South Korea just yet. 

Singapore-based crypto exchange Crypto.com is set to launch services in South Korea, two years after acquiring local crypto exchange OK-BIT. Crypto.com announced in a blog post on Apr. 2 that it’s planning to launch the Crypto.com App in South Korea…

Bithumb disclosed an operating loss of 14.9 billion won ($11 million) in 2023, citing a 58% revenue drop and Q4’s fee-free policy as contibuting factors. South Korea’s cryptocurrency exchange Bithumb has revealed an operating loss of 14.9 billion won (~$11…

South Korean police apprehended a pair of fraudsters who stole 5.5 billion won ($4.1 million) from a senior man under the guise of profitable crypto investments. The Haeundae Police Station in Busan, South Korea, caught two people in their 20s…

Do Kwon, the South Korean crypto fugitive, was reportedly set free from prison in Montenegro over the weekend.

Per the High Court decision, Do Kwon will be released from prison in Spuž on Saturday but will not be allowed to leave Montenegro.

South Korean authorities inched closer to accosting Do Kwon over Terra’s $60 billion collapse following a March 20 court ruling in Montenegro.

A South Korean altcoin issuer was arrested by the Seoul Southern District Prosecutors’ Office’s Virtual Asset Crime Joint Investigation Team on March 19, facing fraud charges. The unnamed individual is accused of defrauding investors of $16.1 million, an arrest that…

Korea’s National Tax Service wants to develop a new management system to monitor crypto transactions and combat illegal activities, targeting completion by 2025. South Korea‘s National Tax Service has initiated preliminary consultations with a consulting firm to develop a new…

U.S. prosecutors have declared their intention to appeal a recent decision by a Montenegrin high court regarding the extradition of Do Kwon, the former CEO of Terraform Labs, to South Korea. The development is part of an ongoing legal saga…

Do Kwon is set to return to his native South Korea for criminal prosecution two years after the collapse of Terra’s tokens, which shook the crypto industry.

South Korea has initiated an investigation into Worldcoin over privacy concerns, following complaints about the collection of facial and iris recognition data. In a press release on Mar. 4, South Korea’s Personal Information Protection Commission says it will investigate Worldcoin…

South Korea’s People Power Party has decided to delay its intentions to relax cryptocurrency regulations indefinitely.  This shift includes halting the initiative to lift the prohibition on domestic spot Bitcoin exchange-traded funds (ETFs), a move initially anticipated by market watchers.…

Head of South Korea's Financial Supervisory Service, Governor Lee Bok-hyun, is scheduled to discuss key regulatory issues with U.S. SEC Chairman Gary Gensler in May.