Tag: South Korea
The first crypto law in South Korea becomes fully operative
The first crypto regulatory framework in South Korea is now fully operational. The new regulations, which were expedited in response to the catastrophic collapse of FTX and Terra-Luna in 2022,…
South Korean Police Raid Offices of Winnerz Over Allegations of Crypto Fraud
South Korean police conducted a raid on the offices of the sports-themed blockchain platform Winnerz as part of an investigation into allegations that its WNZ token is a “scam coin.”…
South Korean Brokerages Halt Foreign Spot Bitcoin ETFs Amid Regulatory Caution
In a preemptive move following a warning from South Korea’s top financial regulator, major securities firms, including Samsung Securities and Mirae Asset, have suspended brokerage services for foreign spot bitcoin…
South Korea’s Crypto Sector Takes Proactive Measures: Tax Authority and Exchanges Unite to Prevent Illicit Transactions
In a collaborative effort to curb illegal foreign transactions involving cryptocurrencies, South Korea’s tax authority, the Korea Customs Service group, and five major crypto exchanges, including Bithumb Korea, Coinone, Korbit,…
South Korea Proposes Credit Card Ban for Crypto Purchases Amid Growing Concerns
In a move signaling heightened regulatory scrutiny, South Korea’s Financial Services Commission (FSC) has put forth a proposal to amend the Enforcement Decree of the Credit-Specialized Financial Business Act. The…