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Financial Services Commission

South Korea gives nod to ‘crypto’; Upbit faces hefty fines
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25 February, 2025

South Korea gives nod to ‘crypto’; Upbit faces hefty fines

Institutional investors can start cashing digital assets out in H1 and access all the other services in H2 as FSC...
South Korean exchanges fear sanctions due to Upbit clampdown
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24 January, 2025

South Korean exchanges fear sanctions due to Upbit clampdown

Smaller exchanges fear they will face stricter sanctions as Upbit, the largest operator, faces withdrawal limitations and tough fines to...
Upbit’s license renewal in limbo; Hong Kong tightens VASP rules
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22 November, 2024

Upbit’s license renewal in limbo; Hong Kong tightens VASP rules

South Korea is uncertain whether Upbit will have its license renewed due to possible KYC breaches; elsewhere, Hong Kong advises...
Hong Kong to issue more VASP permits as South Korea tightens rules
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16 October, 2024

Hong Kong to issue more VASP permits as South Korea tightens rules

With a new license issued to HKVAX, Hong Kong’s licensed VASPs now rose to three, and the Securities and Futures...
South Korea imposes new supervisory fees on top exchanges
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10 August, 2024

South Korea imposes new supervisory fees on top exchanges

Upbit is expected to cough out the largest amount at nearly $103,000 in the Financial Services Commission’s new and unexpected...
South Korea’s first digital asset law comes into force after year of finessing
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22 July, 2024

South Korea’s first digital asset law comes into force after year of finessing

The Virtual Asset User Protection Act focuses on investor protection and mandate that exchanges keep at least 80% of user...
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