Bank Of Korea acknowledges usefulness of ‘stablecoins’
The country's central bank didn't deny the role of "stablecoins" in terms of their availability in monetary transactions, the Bank of Korea (BOK) said...
South Korea Narrows Down 11 Cryptocurrency Exchanges To Shut Down
The first move from the FSC is to temporarily stop the operations of about 11 average South Korean crypto exchanges. Reporting on Sunday, The...
[AUGUST] South Korea Approaches Its Crypto Crossroads
Less than 18 months ago, the South Korean government updated its Act on Reporting and Use of Specific Financial Transaction Information. The actual enforcement...
South Korea’s Busan city to establish digital asset exchange
According to Coindesk Korea, Busan city has started setting up detailed plans and strategies in establishing a digital asset exchange. Its plans include building...
South Korean authorities to collect delinquent taxes from crypto cold wallets
South Korea’s newly amended tax law will allow authorities to collect delinquent taxes hidden in cryptocurrency cold wallets.
The Ministry of Economy and Finance yesterday...
South Korean Regulators Warn Dozens of Foreign Exchanges to Comply With New Rules
Korean Financial Intelligence Unit Notifies Foreign Crypto Exchanges of Registration Obligations
Access to foreign-based cryptocurrency exchanges can be denied and the platforms may face criminal...
Strong pressure on foreign VASPs is making the domestic cryptocurrency market more chaotic
Financial Services Commission (FSC) "We will actively respond to illegal, unreported operations of foreign VASPs."
Since there is a possibility that foreign Virtual Asset Service...
Major Korean bank to launch crypto custody services
One of the largest financial institutions in South Korea, Woori Financial Group, will soon start offering its customers cryptocurrency custody service through a project...
Bank of Korea Chooses Ground X as Supplier for CBDC Pilot
The Bank of Korea (BOK) has chosen its preferred supplier to build a pilot platform for its central bank digital currency (CBDC) pilot.
South...
Classified into 3 types of 500 coins.. Managed by the Financial Services Commission by...
The Financial Services Commission has started to categorize domestically traded virtual currencies according to their functions. It is largely divided into payment and settlement...
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