Tag: South Korea
In Response to Risks, South Korea Tightens Rules on Crypto and Financial IT
Reading time: < 1 minuteSouth Korea’s financial overseer has announced it will bolster monitoring of the cryptocurrency market and enforce tougher penalties on financial institutions for IT accidents, after high-profile events highlighted risks to market integrity and investor security.
Ownership Caps for Exasures Gain Backing from South Korean Regulator
Reading time: < 1 minuteSouth Korea’s top financial watchdog has voiced support for limiting ownership stakes in cryptocurrency exchanges.
South Korean Customs Uncovers $102M Crypto Laundering Scheme
Reading time: < 1 minuteSouth Korea’s customs service has dismantled an alleged money laundering operation that processed $101.7 million using cryptocurrency and the banking system.
South Korean Watchdog Drafts 5% Limit for Institutional Crypto Allocation
Reading time: < 1 minuteSouth Korea’s Financial Services Commission is seeking to introduce a 5% ceiling for corporate investments in cryptocurrencies.
Digital Asset Act Delayed as South Korea Grapples with Stablecoin Rules
Reading time: < 1 minuteConcerns over stablecoin regulation have led South Korean lawmakers to delay advancing a comprehensive digital asset bill.
Alleged Conflict of Interest Hits South Korean Politician in Crypto Sphere
Reading time: < 1 minuteKim Byung-kee, a senior South Korean lawmaker, is confronting allegations of a conflict of interest involving cryptocurrency exchanges.
South Korean Lawmakers Aim for January Passage with New Stablecoin Bill Ultimatum
Reading time: < 1 minuteSouth Korea’s ruling Democratic Party has delivered a “final demand” to financial authorities for a stablecoin regulatory proposal by December 10.
Upbit in Race to Freeze Funds After Major Solana Network Exploit
Reading time: < 1 minuteUpbit is in a digital chase to recover $37 million in crypto assets stolen by an unidentified hacker.
South Korea Expands AML Sanctions Across Crypto Sector
Reading time: < 1 minuteAfter sanctioning Upbit, South Korean regulators are turning their focus to the rest of the industry’s leading crypto exchanges.
Binance Re-Enters South Korea with Gopax Acquisition
Reading time: < 1 minuteThe world’s largest crypto exchange has completed its acquisition of local platform Gopax after receiving final approval from South Korean financial regulators.