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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.
Wednesday, 26/07/2023 | 08:32 GMT 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.
Wednesday, 12/07/2023 | 11:22 GMT 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.
Tuesday, 04/07/2023 | 11:41 GMT 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.
Thursday, 15/06/2023 | 10:00 GMT 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.
Monday, 05/06/2023 | 11:50 GMT 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.
Monday, 29/05/2023 | 10:09 GMT 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.
Tuesday, 23/05/2023 | 16:24 GMT 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
Monday, 22/05/2023 | 13:22 GMT 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.
Friday, 19/05/2023 | 14:51 GMT 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
Monday, 15/05/2023 | 15:28 GMT 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.
Monday, 08/05/2023 | 15:11 GMT 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.
Wednesday, 03/05/2023 | 11:13 GMT 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.
Monday, 10/04/2023 | 16:52 GMT 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.
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
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
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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