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CryptoCurrency
South Korea Uncovers $4.3B FX Transactions Linked to Crypto Speculation
Regulators last July flagged crypto-linked FX transactions worth $3.1 billion.
The country also started cracking down on 16 illegal crypto exchanges last year.
Tuesday, 07/03/2023 | 18:24 GMT
by
Solomon Oladipupo
Institutional FX
South Korea Revises Decades-Old Forex Transaction Rules
The country has approved nine securities firms to engage in currency exchange business.
South Korea recently announced plans to embrace offshore firms in its forex markets.
Friday, 10/02/2023 | 20:26 GMT
by
Solomon Oladipupo
Institutional FX
South Korea to Allow Offshore Firms to Participate in FX Markets
The country will also keep the FX markets open until 2 am.
The changes will be implemented in the second half of 2024.
Tuesday, 07/02/2023 | 09:09 GMT
by
Arnab Shome
CryptoCurrency
Binance Invests in Crypto Exchange GOPAX Years after South Korea Exit
Binance took the capital from its $1 billion crypto recovery fund.
The crypto exchange is now licensed in 15 jurisdictions.
Friday, 03/02/2023 | 15:29 GMT
by
Solomon Oladipupo
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News
South Korea Issues Arrest Warrant against Terra Co-Founder Do Kwon
The prosecutors confirmed that he is currently in Singapore.
Five other persons are also named in the arrest warrant.
Wednesday, 14/09/2022 | 10:24 GMT
by
Arnab Shome
News
Upbit and Bithumb Post Massive Decline in H1 2022 Sales and Profits
These are the two largest crypto exchanges in the country.
The numbers show the bearish sentiment in the South Korean crypto market.
Wednesday, 31/08/2022 | 07:12 GMT
by
Arnab Shome
Regulation
KuCoin among 16 Illegal Crypto Exchanges Operating in South Korea
None of these platforms are following local guidelines for crypto exchanges.
The Financial Intelligence Unit is now pushing for blockchain access to these platforms.
Thursday, 25/08/2022 | 05:23 GMT
by
Arnab Shome
News
South Korea to Investigate Forex Transactions Linked to Crypto
The 'abnormal' transactions are worth $3.1 billion.
The transactions took place at Woori Bank and Shinhan Bank.
Wednesday, 27/07/2022 | 23:32 GMT
by
Felipe Erazo
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News
Small South Korean Exchanges Fear Shut Down amid Crypto Sell-Off
Upbit, Bithumb, Coinone, Korbit and Gopax are the heavyweights in South Korea.
Experts believe it is tougher for small crypto exchanges to achieve sustainable growth.
Tuesday, 12/07/2022 | 23:18 GMT
by
Felipe Erazo
Retail FX
South Korean Watchdog to Investigate Forex Activity in Local Banks
The investigation comes in the wake of another one launched against Woori Bank.
The Financial Supervisory Service (FSS) is in charge of the inquiries.
Monday, 04/07/2022 | 19:42 GMT
by
Felipe Erazo
Institutional FX
Woori Bank to Cooperate with Regulators over Suspicious Forex Trading
The suspicious forex trades totaled $624.26 million.
The FSS is investigating the matter.
Monday, 27/06/2022 | 19:43 GMT
by
Felipe Erazo
News
South Korean Authorities Summon Employees at Terraform Labs
Investigations on Terraform Labs are underway in South Korea.
Authorities are looking at LUNA's profit model.
Monday, 30/05/2022 | 17:22 GMT
by
Felipe Erazo
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News
South Korean Exchange Korbit to Delist LUNA
The exchange will halt all LUNA-related services on 3 June.
The move follows the steps of Bithumb and Upbit.
Thursday, 26/05/2022 | 01:19 GMT
by
Felipe Erazo
News
South Korean Crypto Exchanges Warn on Litecoin Transactions
Bithumb and Upbit are two of the biggest crypto exchanges in South Korea.
Litecoin released its update dubbed 'Mimblewimble'.
Monday, 23/05/2022 | 17:36 GMT
by
Felipe Erazo
News
South Korean Agency Fines Terraform Labs for Tax Evasion
The authorities fined its Co-Founder Do Kwon.
Do Kwon was reportedly 'unsatisfied' with the taxation system.
Thursday, 19/05/2022 | 17:24 GMT
by
Felipe Erazo
Regulation
South Korean Regulators Call for Emergency Inspection after LUNA Crash
The measure comes in the wake of LUNA and TerraUSD prices' decline across the board.
TerraUSD and LUNA have attracted around 200,000 South Korean investors.
Tuesday, 17/05/2022 | 23:43 GMT
by
Felipe Erazo
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News
Western Union Expands South Korea Presence, Partners with ICB
The services of the payments platform will be available through the DEBUNK Remit app.
Earlier, the company partnered with another South Korean fintech.
Tuesday, 29/03/2022 | 09:39 GMT
by
Arnab Shome
CryptoCurrency
South Korea’s SK Square to Launch Its Own Crypto
The digital asset is intended to be used in the firm's own metaverse.
Another SK Group subsidiary signed a contract with Korbit on March 23.
Thursday, 24/03/2022 | 23:49 GMT
by
Felipe Erazo
Institutional FX
South Korean Brokerages Net Profits Surged in 2021, Data Shows
Transaction fees grew by 23.2% on-year to 16.8 trillion won.
South Korean banks traded a record amount of forex in 2021.
Tuesday, 22/03/2022 | 01:39 GMT
by
Felipe Erazo
News
New South Korean President Seeks to Give a Local Crypto Push
He wanted to legalize ICOs that became very popular in the country years ago.
Many people see Yoon Suk-yeol as a 'crypto enthusiast' who advocates for the industry.
Tuesday, 15/03/2022 | 21:34 GMT
by
Felipe Erazo
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News
South Korea’s KB Bank to Offer Crypto Investment Fund
The bank formed a committee to evaluate the market and products.
It will become the first bank in the country to offer such products.
Monday, 21/02/2022 | 12:52 GMT
by
Arnab Shome
News
Equinix, GIC Form Joint Venture to Build 2 Data Centers in South Korea
Both data centers will be in Seoul.
It will be an expansion of the company’s hyper-scale data center program.
Thursday, 27/01/2022 | 08:29 GMT
by
Arnab Shome
CryptoCurrency
Gen.G Esports Signs Partnership with South Korean Bithumb Crypto Exchange
Gen.G Esports has partnered with Bithumb exchange.
The crypto exchange will sponsor Gen.G's sports team events.
Thursday, 27/01/2022 | 08:21 GMT
by
Nicholas Otieno
Retail FX
South Korea Sees Record FX Trading Demand in 2021
The demand surged as imports and exports for the country jumped.
Both spot and derivatives FX demand increased.
Wednesday, 26/01/2022 | 11:48 GMT
by
Arnab Shome
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News
Bank of Korea Completes First Phase of CBDC Testing
The testing was completed in December 2021.
The regulator is now aiming to complete phase two by June.
Monday, 24/01/2022 | 13:26 GMT
by
Arnab Shome
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