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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.
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.
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.
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.
by Damian Chmiel
CryptoCurrency

South Korea Introduces Special Unit to Combat Illegal Crypto Activities

  • The unit is expected to protect investors in the country.
  • Crypto-related crimes have increased by nearly 120% in South Korea.
by Jared Kirui
CryptoCurrency

South Korean Companies Required to Disclose Crypto Holdings under New Rules

  • The FSC said the new regulations will enhance accountability and transparency.
  • Companies are also required to declare profits made from crypto assets.
by Jared Kirui
CryptoCurrency

South Korean Crypto Exchanges Unveil System for Checking Market Volatility

  • The system notifies users about abnormalities in the prices of cryptocurrencies.
  • DAXA, an alliance of five major cryptocurrency exchanges, operates the new system.
by Jared Kirui
CryptoCurrency

South Korea's Crypto Firm Delio Temporarily Suspends Withdrawals

  • The company is blaming market volatility for the suspension.
  • Delio cited similar steps recently taken by another crypto firm, Haru Invest.
by Jared Kirui
Institutional FX

Foreign Traders Gain Easier Access to South Korea after 30 Years, CFDs Not Included

  • South Korean government is changing unfavorable laws after 30 years.
  • Unfortunately, the changes will only refer to the stock and bond market, not CFDs or cryptos.
by Damian Chmiel
Retail FX

South Korea Introduces Tight CFDs Trading Regulations

  • The regulations include proper classification of CFDs trading entities.
  • The regulators also recommended the suspension of CFDs trading for three months.
by Arnab Shome
Regulation

South Korean Party Seeks Early Enforcement of Bill on Crypto Asset Declaration

  • The new bill will require lawmakers to disclose their crypto asset holdings.
  • The call for earlier implementation comes as Kim Nam-kuk faces a crypto scandal.
by FM Contributors
Regulation

South Korean Prosecutors Raid Third Crypto Exchange in Probe into Lawmaker

  • Following Upbit, Bithumb raids, investigators set their sights on Ozys PTE Ltd.
  • Raids part of ongoing investigation into Kim Nam-kuk's cryptocurrency activities
by FM Contributors
Regulation

Crypto Scandal: South Korea’s Ruling Party Sends Team to Wemix Issuer

  • Probe into the independent lawmaker Kim Nam-kuk's crypto activities continues.
  • Prosecutors previously raided Upbit and Bithumb as part of the investigation.
by FM Contributors
Regulation

Upbit, Bithumb Raided Following Lawmaker’s Crypto Scandal

  • PPP to launch internal task force probing opposition lawmaker's cryptocurrency dealings.
  • Potential lobbying efforts by the gaming industry will also be investigated
by FM Contributors
CryptoCurrency

South Korean Lawmaker Faces Investigation over Suspicious Crypto Transfers

  • Kim Nam-kuk reportedly owned about 800,000 WEMIX coins in early 2022.
  • Court dismissed prosecutors' request for search warrant, Yonhap reports.
by Solomon Oladipupo
Retail FX

News Nuggets | 3 May: BlackBull Adds DXtrade; Gate.io's New License

  • Also, South Korean FSS investigating CFDs sales; and new BDSwiss executive.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
by Finance Magnates Staff
CryptoCurrency

South Korean Crypto Exchange GDAC Loses 23% of Assets to Hackers

  • A total of $14.2M was stolen in crypto, according to latest prices on CoinMarketCap.
  • GDAC has sought help from the Korean Police, KISA and FIU.
by Solomon Oladipupo
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.
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.
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.
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.
by Solomon Oladipupo
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.
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.
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.
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.
by Felipe Erazo
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