Tag: VASPs
[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...
OKEx Korea to Close as New AML Rules Come Into Force
The South Korean arm of the cryptocurrency exchange OKEx has decided to shut up shop rather than attempt to navigate revised regulatory hurdles that...
South Korea to Impose Heavy Penalty on Cryptocurrency Violations
The Financial Services Commission of Korea (FSC) introduced new penalty standards for cryptocurrency service providers today. The financial regulator is planning to impose heavy...
Imminent Regulations Signal End of Smaller Crypto Exchanges
Virtual asset exchanges, which had sprang up until last year, continue to close. The amended ‘Specific Financial Transaction Information Act’ includes anti-money laundering (AML)...
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Ruling and Opposition Parties Agree on Two-Year Delay for Virtual Asset...
The ruling and opposition parties in South Korea have agreed to postpone the taxation on virtual asset income by two years. With the Democratic...
