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FinTech
South Korea Joins Global Initiative for Cross-Border Payments Tokenization
The project, which involves seven countries and the BIS, seeks to leverage tokenization to boost cross-border transactions.
Project Agorá aims to address structural inefficiencies, such as legal, regulatory, and variation in time zones.
Wednesday, 03/04/2024 | 16:12 GMT
by
Jared Kirui
CryptoCurrency
Crypto.com Unveils Tailored Trading Platform for Korean Market
Discussions with local banks are underway for real-name account authentication partnerships.
Five won-based crypto exchanges in Korea are currently authorized by financial authorities.
Tuesday, 02/04/2024 | 08:44 GMT
by
Tareq Sikder
CryptoCurrency
Extradition of Terraform Labs’ Do Kwon to South Korea Stalls
The top prosecutor of Montenegro challenged the authority of the High Court in Kwon’s case.
The case is not likely to move to the country’s Supreme Court.
Friday, 22/03/2024 | 08:00 GMT
by
Arnab Shome
Retail FX
Korean FX Regulations Eased to Boost Access to Foreign Investors
Investors can utilize International Central Securities Depository cash and custody accounts.
Foreign investors can use Korean won overdrafts to facilitate transactions.
Wednesday, 21/02/2024 | 12:36 GMT
by
Jared Kirui
Retail FX
Webull to Blaze Trail as First Foreign Firm in Korean Stock Trading
The US brokerage is seeking regulatory approval to enter South Korea's market.
This move could introduce competition and innovation in Korea's retail brokerage sector.
Tuesday, 20/02/2024 | 07:55 GMT
by
Damian Chmiel
CryptoCurrency
Bithumb's Struggles Highlight Crypto Banking Integration in South Korea
KB Kookmin Bank informed the firm not to partner to provide real-name accounts.
The firm's current contract with NH NongHyup Bank is due to expire on March 24.
Friday, 16/02/2024 | 10:00 GMT
by
Tareq Sikder
CryptoCurrency
Seoul Cracks Down on Crypto Industry: To Close Non-compliant Exchanges
This step is aimed at protecting crypto users in South Korea.
South Korea plans to boost anti-money laundering measures in the crypto space.
Tuesday, 13/02/2024 | 13:14 GMT
by
Jared Kirui
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CryptoCurrency
FSC Implements New Legislation for Crypto Market in South Korea
New act imposes severe penalties: prison terms over one year, fines 3-5 times of illegal profits.
Individuals who accumulate over $3.8 million from illicit crypto schemes could face life sentences.
Wednesday, 07/02/2024 | 10:33 GMT
by
Tareq Sikder
CryptoCurrency
Terraform Labs’ Former CFO Extradited to South Korea to Face Criminal Charges
Han Chang-joon and Do Kwon face charges for falsified documents in Montenegro.
Montenegro's court of appeals will decide on Kwon's extradition appeal.
Monday, 05/02/2024 | 18:37 GMT
by
Jared Kirui
Executives
South Korea Proposes Regulatory Vetting for Crypto Executives
These amendments aim to regulate the employment of executives in crypto companies.
Currently, South Korea is seeking feedback from the public until March 24, 2024.
Monday, 05/02/2024 | 14:30 GMT
by
Jared Kirui
CryptoCurrency
South Korean Financial Watchdog Turns to SEC for Bitcoin ETF Guidance
The FSS chief has planned to visit major financial markets like New York in 2024.
Earlier, South Korea's President’s office challenged FSC on Bitcoin ETFs.
Monday, 05/02/2024 | 09:50 GMT
by
Tareq Sikder
CryptoCurrency
South Korea's President Challenges the FSC's Warning on Bitcoin ETFs
Recently, the FSC warned securities firms against trading spot Bitcoin ETFs listed overseas.
South Korea plans to explore legal changes and consider foreign practices regulating spot Bitcoin ETFs.
Friday, 19/01/2024 | 13:08 GMT
by
Jared Kirui
CryptoCurrency
South Korea Steps Up Efforts to Tackle Money Laundering via Crypto Mixers
Financial authorities in Korea are exploring regulations for virtual asset mixers.
The move addresses the risks of money laundering associated with crypto mixers.
Monday, 15/01/2024 | 13:14 GMT
by
Jared Kirui
CryptoCurrency
South Korea Defies Trend: Rejects Crypto ETFs despite SEC's Approval
The FSC has emphasized that the crypto ETF brokerage may violate the Capital Market Act.
Despite the current stance, the regulator has hinted at possible future developments.
Friday, 12/01/2024 | 13:40 GMT
by
Jared Kirui
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CryptoCurrency
South Korea Seeks Ban on Crypto Purchases Using Credit Cards
The country’s financial regulator is concerned about the outflow of domestic funds overseas.
If everything is aligned, the rule is aimed to be in place by the end of H1 2024.
Thursday, 04/01/2024 | 08:43 GMT
by
Arnab Shome
CryptoCurrency
South Korean Lawmakers Conducted $97M in Crypto Transactions in 3 Years
One lawmaker accounted for 90 percent of all transactions.
The investigation found discrepancies with lawmakers' holdings and reported crypto assets.
Friday, 29/12/2023 | 09:02 GMT
by
Arnab Shome
Retail FX
South Korea Imposes $1.54 Million Fines on Global Hedge Funds for Market Breaches
The fine has been imposed on three undisclosed hedge funds.
Last month, a ban on short selling until June 2024 was announced.
Wednesday, 20/12/2023 | 13:46 GMT
by
Tareq Sikder
CryptoCurrency
South Korea's National Pension Service Bets Big on Coinbase with $20M: Report
NPS has reported an appreciation of 40% in its investment in the crypto exchange.
This step happens amid heightened scrutiny of the crypto sector in South Korea.
Friday, 17/11/2023 | 13:52 GMT
by
Jared Kirui
CryptoCurrency
South Korean Crypto Exchange Bithumb Aims to Go Public by 2025
It aims to assert trust rather than raise money.
It now has a local market share of 15 to 20 percent.
Monday, 13/11/2023 | 08:43 GMT
by
Arnab Shome
Retail FX
South Korea's Short Selling Ban: Is it Time for a Blockchain-Based Stock Exchange?
Debates, implications, and global considerations.
Thursday, 09/11/2023 | 16:32 GMT
by
Pedro Ferreira
CryptoCurrency
What Steps is Busan Taking to Become a Blockchain City
Are blockchain cities an inevitability at this point?
Tuesday, 03/10/2023 | 07:39 GMT
by
Pedro Ferreira
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Retail FX
Korea’s FX Market Paves the Way to Include Offshore Firms in New Regulation
The step by the Bank of Korea aims to boost foreign investment.
The revised decree will take effect on October 4, expanding market access.
Monday, 25/09/2023 | 15:09 GMT
by
Jared Kirui
CryptoCurrency
South Korean Lawmaker in Crypto Scandal Survives Expulsion Vote
A parliamentary vote to dismiss the legislator ended in a stalemate, Yonhap reported.
Kim Nam-kuk reportedly transferred his WEMIX holding worth $4.5M to evade a new rule.
Wednesday, 30/08/2023 | 19:07 GMT
by
Solomon Oladipupo
CryptoCurrency
Navigating Change: South Korea's Crypto Exchanges Brace for New Reserve Requirement
Crypto exchanges in the country must have a minimum reserve of 3 billion KRW from September.
The reserves are intended to safeguard users in case of hacks and exploits.
Monday, 28/08/2023 | 15:27 GMT
by
Jared Kirui
Retail FX
South Korea Reintroduces CFDs Trading after $77M Stock Scandal
Securities firms gear up for CFDs trading's return this September.
Despite past mishaps, brokers see the value in diversifying revenue streams.
Monday, 21/08/2023 | 13:21 GMT
by
Damian Chmiel
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