The Singapore-based exchange is postponing its expansion plans for South Korea, citing the need to communicate with regulators.
The post Crypto .com postpones expansion plans for South Korea, talks with regulators appeared first on Crypto Briefing.
Crypto.com previously obtained a domestic virtual asset business license (VASP) in South Korea after acquiring local crypto exchange OKBit.
However, tokens listed on a licensed exchange for over two years may not need to meet these new criteria.
The financial loss comes days after reports of Bithumb facing potential internal issues that led to the delay of its planned IPO.
Despite tightening regulatory measures, the exchange has been growing its South Korean presence for years.
Crypto.com is launching a crypto trading platform in South Korea after its acquisition of OK-BIT, a local crypto exchange.
Upbit's 24-hour crypto trading volume stood at $3.79 billion at press time, down 75% from the high of $15 billion on March 5, CoinGecko data show.
Terraform Labs co-founder Do Kwon is now set to be released from prison in Montenegro; however, the South Korean will remain restricted to the borders of the European nation pending a fixed date for his extradition to his home country. Related Reading: Terraform Labs Accuses SEC Of ‘Government Overreach’ In Legal Defense Dispute Do Kwon […]
Montenegro’s Supreme Court has intervened in Do Kwon’s extradition to South Korea, putting the process on hold indefinitely, according to a March 22 translation of the Court notice. The Court said it overturned previous decisions from two lower courts that had greenlit Kwon’s extradition to South Korea because of the Supreme State Prosecutor’s Office’s request. Consequently, […]
The post Montenegro’s Supreme Court stalls Do Kwon’s extradition amid legal tussle appeared first on CryptoSlate.
Prosecutors in Montenegro suggested that the country’s Supreme Court could issue a verdict that would change an earlier decision on Do Kwon’s extradition to South Korea.
The KOSPI trading volume recorded 11.4794 trillion won on Mar.8, compared to nearly 12 trillion won on local crypto exchanges on Sunday.
The co-founder of bankrupt Terraform Labs was first set to be extradited to the United States after lengthy court battles.
Five United States senators have joined hands to fight President Joe Biden’s plans to issue a “digital dollar.”
The Terraform Labs co-founder, who has been in Montenegro since his arrest in March 2023, will reportedly be extradited to the United States to face fraud charges.
The Gyeonggi Tax Department used the resident registration data of “delinquents,” tracing their mobile phone numbers to detect their accounts on crypto exchanges.
South Korea’s ruling political party and its opposition party are making poll promises related to crypto ahead of the national elections later this year scheduled for April 10.
The FIU has been actively encouraging crypto exchanges to report any transactions that raise suspicions of money laundering and illegal “foreign exchange outflow.”
The South Korean NFT and game development platform apparently suffered a private key leak that hackers used on Feb. 9.
The Appellate Court of Montenegro previously canceled Kwon’s extradition approval to either the United States or South Korea in mid-December 2023.
South Korean prosecutors are reportedly examining if Wemade withheld giving private keys to users, which would mean that Wemade violated local reporting rules.
The exchange reportedly used Telegram influencers to promote its crypto services to South Korean users.
South Korean prosecutors announced the arrests of Haru Invest CEO and two other execs two days after Haru posted another “no information” update.
Han Chang-joon was charged with carrying falsified travel documents alongside Terra co-founder Do Kwon last year.
The Office of the President of the Republic of Korea urged the Financial Services Commission to reconsider its anti-ETF stance following SEC approval in the United States.
Even Gary Gensler voted to approve the spot Bitcoin ETFs.
While Chinese authorities continue prosecuting stablecoin use, Hong Kong is working on legalizing it.
The two aim to strengthen cooperation on crypto regulations before South Korea's new crypto laws go into effect next year.
Stablecoins' widespread usage and frequent instability could lower the effectiveness of central bank monetary policies, Rhee Chang-yong said.
The rules are scheduled to take affect on July 19 next year.
Users who deposit digital assets to exchanges in South Korea will be eligible to receive interest on their deposits.