Crypto exchange Coinone has been fined $3.5 million and hit with a three-month partial suspension over AML violations in South Korea.
Recent reports revealed that South Korea is set to ease its restrictions on institutional crypto investment. Secretary-General of South Korea’s Financial Services Commission (FSC) announced the watchdog’s plan to review its restrictions amid the ongoing changes in South Korea’s regulatory approach. Related Reading: UK Authorities To Seize $4.3 Million In Bitcoin From Fugitive Crime Boss […]
Korea Exchange’s chief recently suggested that South Korea must review its crypto approach and institutionalize digital assets soon to compete against other nations. The call for change comes amid the country’s political turmoil, which has halted all related regulations until 2025. Related Reading: Small-Scale Bitcoin Wallets Are Booming: Addresses With Less Than 1 BTC Surges […]
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 […]
This Friday, the first South Korean crypto regulatory framework has gone into effect after the one-year preparation period. The new law requires firms in the country to comply with stricter requirements to protect investors and their assets. Related Reading: $235 Million Crypto Theft from WazirX Was ‘Perpetrated’ By North Korean Hackers, Report Reveals South Korea’s […]
A recent report revealed that the South Korean government is considering delaying the crypto gains taxation for a third time. Seemingly, investors in the country are growing concerned due to a lack of system and “market confusion.” Related Reading: Crypto Market Jolted By MakerDAO’s $1 Billion Investment In Tokenized Treasuries Crypto Taxation Could Be Delayed […]