Category: South Korea



Korean Exchanges Delist High-risk Coins as They Face Tough Regulations


Korean Exchanges Delist High-risk Coins as They Face Tough RegulationsCrypto trading platforms in South Korea are delisting certain digital currencies as they move to comply with stricter rules for the industry. The trading of some high-risk coins has been either halted or completely suspended on several Korean exchanges this week. South Korean Exchanges Wipe Trading Lists of Risky Digital Assets Trying to meet Seoul’s […]





South Korea’s Financial Regulator Holds Closed-Door Meeting With 20 Crypto Exchanges


South Korea’s Financial Regulator Holds Closed-Door Meeting With 20 Crypto ExchangesRegional reports disclose South Korea’s Financial Services Commission (FSC) had a closed-door meeting with roughly 20 different cryptocurrency exchanges on June 3. The report highlights that virtual asset business operators (VASPs) that attended the meeting all had ISMS (Information Security Management System) certification. South Korean Regulator Holds a Closed-Door Meeting With 20 VASPs A report […]




Japan’s Top Financial Watchdog Sends a Warning Crypto Derivatives Exchange Bybit


Japan's Top Financial Watchdog Sends a Warning Crypto Derivatives Exchange BybitThe Japanese government’s Financial Services Agency (FSA) has issued a warning to the crypto derivatives exchange Bybit claiming that the trading platform is allowing residents of Japan access to the exchange. The news follows the Bank of Japan Governor Haruhiko Kuroda criticizing digital currencies for speculation. Japan’s FSA Warns Bybit Fintech Limited Japan’s top regulator […]


South Korean Financial Supervisory Service Tasked With Crypto Market Oversight


South Korean Financial Supervisory Service Tasked With Crypto Market OversightThe Financial Supervisory Service of South Korea will lead government efforts to oversee the country’s expanding cryptocurrency market. The agency has been tasked with the job after prolonged discussions over which Korean regulator should be responsible for the industry. Financial Supervisory Service Takes Responsibility for Crypto Sector in Korea It took the government months to […]




Bank of Korea Seeking Technology to Develop Digital Currency


Bank of Korea Seeking Technology to Develop Digital CurrencySouth Korea’s monetary policy regulator is taking steps to create its own digital coin. Bank of Korea is now looking for a technology provider to develop a test environment for the project. The news comes after major commercial banks expressed skepticism over their cooperation with domestic cryptocurrency exchanges. Central Bank of Korea to Launch Pilot […]


South Korea’s ‘Kimchi Premium’ Returns, BTC Prices Up 8% Higher Than Global Average


South Korea's 'Kimchi Premium' Returns, BTC Prices Up 8% Higher Than Global AverageAs cryptocurrency regulation heats up worldwide, South Korean officials have been increasing regulatory discussions concerning the swelling crypto economy. While digital currency markets like bitcoin have tumbled in value in recent times, global crypto market prices have increased across the board on Monday. In South Korea, crypto-assets like bitcoin are once again experiencing a ‘kimchi […]


South Korean Governor Becomes the First Politician to Disclose Publicly His Cryptocurrency Holdings in the Country


South Korean Governor Becomes the First Politician to Disclose Publicly His Cryptocurrency Holdings in the CountryRegardless of the political turmoil that arose in South Korea due to the crypto-related regulations, a leading politician had come forward to reveal that he had made investments in virtual currencies publicly. Won Hee-ryong, the Governor of Jeju Island, unveiled that he invested in four different cryptocurrencies. Wong Plans to Keep Updating People via Youtube […]


South Korean Deputy Prime Minister Eases Anti-Crypto Rhetoric, Aims to Create More Domestic Market Opportunities


South Korean Deputy Prime Minister Eases Its Anti-Crypto Rhetoric, Aims to Create More Opportunities on Domestic MarketsThe South Korean government seems to be easing its anti-crypto tone, as the Deputy Prime Minister came forward with a statement that opened the doors for future open dialogue on virtual currency topics. Hong Nam-ki unveiled that officials are assessing ways to get young people into “domestic asset markets” and thus bringing more opportunities in […]



South Korean Ministries ‘Do Not Want’ to Take Charge of Crypto-Related Regulation, Claims Official


No South Korean Ministries Want to Take Care of Crypto-Related Regulation Problems, Claims OfficialThe crypto regulation crisis is on fire in South Korea, as politicians have struggled to reach agreements with top government officials to ease rulings. A local media outlet reveals that South Korean ministries “do not want” to take charge of the country’s digital assets’ regulation, after several meetings held in the last few days. Prime […]


Bank of Korea to Monitor Crypto Transactions Using Financial Records


Bank of Korea to Monitor Crypto Transactions Using Financial RecordsSouth Korea’s monetary policy regulator, Bank of Korea, plans to obtain documents from financial institutions to track crypto transactions involving bank accounts. Cryptocurrency prices fluctuate independently from the real economy, the bank says, adding that market growth could pose a risk to the country’s financial system. South Korean Central Bank to Intensify Screening of Crypto-Related […]



South Korean Banking Association Concerned Over Surge of the Altcoin Trading Frenzy


South Korean Banking Association Concerned Over Surge of the Altcoin Trading FrenzyA banking association in South Korea recently added weight to regulatory discussions across the country, raising concerns about the high altcoin trading volume. The Korea Federation of Banks (KFB) requested its members to audit trading volumes through their crypto exchanges’ customers’ altcoin activity. Altcoins Trading Volume Outperformed Bitcoin Last Weekend in South Korea According to […]




South Korea to Crack Down on Phishing Websites Attacking Crypto Users


South Korea to Crack Down on Phishing Websites Attacking Crypto UsersSouth Korean authorities are intensifying their monitoring of phishing activity related to cryptocurrencies. The government has identified a record number of websites trying to obtain login details from crypto exchange users. Over 30 sites have been taken down in just three months this year. Seoul Strengthens Monitoring of Crypto Phishing Scams Rising market prices have […]


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