National Assembly member Kim Nam-kuk left South Korea’s Democratic Party in 2023 after allegations of cashing out $4 million in crypto holdings.
Last Tuesday, South Korea President Yoon Suk Yeol surprised the country by declaring a martial law. The President’s surprise announcement, later reversed, created political chaos and rattled the markets. Related Reading: Hackers Wanted! Crypto.com Puts Its Security To A $2 Million Test South Korea’s stock market fell in Wednesday morning trading and the benchmark Kospi […]
Yesterday, the South Korean crypto market suffered a violent drop after an emergency martial law was declared. This caused a massive sell-off that sent the price of most cryptocurrencies to monthly lows. After the turmoil, local exchanges saw a record-breaking daily trading volume for the second consecutive day, nearly doubling the previous milestone. Related Reading: […]
Woori Technology, a South Korean venture capital firm, is reportedly considering selling its stake in Dunamu, the parent company of the Upbit crypto exchange. Upbit is the largest crypto trading platform in the East Asian country. According to local media reports, Woori invested 5.5 billion KRW in Dunamu in 2015, acquiring an undisclosed company share. […]
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One analyst said South Korea’s limiting of the market to a few players caused a sudden decrease in liquidity.
BTC price performance is slowly making market observers more bullish on Bitcoin on short timeframes.
Bitcoin price cooled off at the start of December, but several bullish catalysts support investors' belief that $100,000 BTC is around the corner.
In response to the martial law declaration, opposition Democratic Party leader Lee Jae-myung expressed concern that the military would arrest members of South Korea’s parliament.
Cryptocurrency firms in South Korea would have some breathing room before they start paying capital gains tax as the government decided to delay its implementation by two years. South Korean legislators agreed not to impose the crypto taxation policy next year, moving its implementation to 2027. Related Reading: Michael Saylor’s Thanksgiving: A Crypto Feast Featuring […]
South Korea’s Democratic Party previously pushed back against another delay, saying it was a political trick by the ruling party.
CryptoQuant CEO Ki Young Ju has raised concerns about South Korea’s readiness to approve spot Bitcoin exchange-traded funds (ETFs). In a Nov. 26 post on X (formerly Twitter), Ju compared the regulatory climate in South Korea to the contentious stance of the US Securities and Exchange Commission (SEC) Chair Gary Gensler, suggesting that such an […]
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South Korean authorities have officially identified North Korean hackers as the perpetrators of a major Ethereum heist in 2019, marking a significant breakthrough in the investigation. The stolen cryptocurrency, valued at 58 billion won (approximately $55.7 million) at the time, was traced to North Korea’s Reconnaissance General Bureau, a military intelligence agency. The hackers reportedly […]
The Financial Supervisory Service of South Korea (FSS) has once again reaffirmed its prohibition on Bitcoin spot as well as futures Exchange Traded Funds (ETFs) which has drawn criticism from industry participants and legal practitioners. Related Reading: Trump Enters The Crypto Arena With Bakkt Acquisition – Details This is part of overhauling regulations that have […]
South Korean authorities have successfully recovered 4.8 Bitcoin (BTC), which was linked to the 2019 hack of the Upbit exchange, local media outlet Yonhap News reported on Nov. 21. The incident, in which North Korean hackers stole 342,000 Ethereum (ETH), was among the most significant cyberattacks targeting a cryptocurrency platform. The stolen Ethereum, valued at […]
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South Korea said North Korean hackers Lazarus and Andariel were behind the $50 million Upbit hack in 2019, with the stolen crypto now valued at over $1 billion.
South Korean traders are known for pushing euphoric rallies on tokens, contributing to buying pressure and possibly influencing prices.
Upbit, the leading crypto exchange in South Korea, is being investigated by the country’s financial authorities over an alleged violation of Know-Your-Client (KYC) procedures. The probe comes amid the exchange’s license renewal process and a potential investigation for “anti-monopoly breaches.” Related Reading: Is The SEC Prepared For Trump’s Crypto Promises? Commissioner Peirce Weighs In Crypto […]
The South Korean government has uncovered significant Know-Your-Customer (KYC) violations on Upbit, the country’s largest cryptocurrency exchange. On Nov. 14, local media reports indicated that the Financial Intelligence Unit (FIU) of the Financial Services Commission identified these issues during a routine business license renewal review for Upbit. The regulator has found between 500,000 and 600,000 […]
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Due to the alleged KYC violations, Upbit reportedly faces fines of $71,500 per case in addition to possible issues with Upbit’s business license renewal.
Fireblocks extends its services with the tokenization of tax refunds through NongHyup Bank.
South Korean police have arrested 12 suspects, including a prominent YouTuber, in connection with a $231 million crypto fraud that affected more than 15,000 investors, local media outlet Yna reported. The report stated that this arrest is part of an extensive investigation, initially leading to the apprehension of 215 individuals, with 12 ultimately detained for […]
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The scheme promised 20x returns through investing in tokens that in reality had little value.
DOGE's price has surged 78% since Trump's election win a week ago.
South Korean authorities announced their plan to fully regulate cross-border crypto transactions by the end of 2025 to combat a “blind spot” enabling tax evasion by foreign exchanges. Related Reading: Consensys Urges For Clear Crypto Regulation In Open Letter To Future US President Koran Authorities To Regulate Cross-Border Crypto Transactions According to local news media […]
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
South Korean authorities are preparing to regulate cross-border digital asset transactions beginning in late 2025, according to an Oct. 25 report by Reuters. The Ministry of Finance announced that the new regulations will require registration and reporting for businesses in Korea involved in cross-border crypto trades. Under this framework, Korea-based companies facilitating digital asset transactions […]
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South Korea’s finance minister, Choi Sang-Mok, says the country will introduce reporting mandates on cross-border crypto transactions to combat foreign exchange crime.
More than 33,000 crypto investors in South Korea are currently unable to access their assets, which amount to around $13 million, due to the closure of several crypto exchanges in the country, local media outlet The Korea Times reported on Oct. 14. According to the report, 14 virtual asset exchanges in South Korea have either […]
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Do Kwon’s extradition has been delayed again, to the surprise of the Justice Ministry.
South Korea’s Financial Services Commission plans to consult with other jurisdictions, including Japan and the EU, on stablecoin rules.