Blockchain tapped to tackle carbon emission in South Korea
KT Corp, South Korea's top telecommunications company, established the platform to handle the lifecycle of the documents from its creation, storage, distribution, and application.
Latest South Korea News
South Korea could allow some digital currency exchanges to trade beyond regulatory cut-off
Legislation introduced in the country imposed a deadline on September 24 for the registration of any digital currency exchange that wishes to continue to do business in the country.
Bithumb to ban foreign users who fail mobile KYC as regulations bite harder
Bithumb exchange will reportedly ban foreign users who fail to verify their identity through a mobile phone as South Korea’s AML laws bite harder.
The CoinGeek Pulse Episode 59: Canada regulator bars Tether trading; Cuba eyes digital currency for payments, Asia updates
The Ontario Securities Commission continues to tighten its grip on digital currency operators, recently barring digital currency platforms from offering Tether (USDT) trading services.
South Korea creates new digital currency oversight bureau
The new bureau will fall under the anti-money laundering agency and will monitor the industry for any suspicious transactions and enhance investor protection.
Upbit becomes first exchange to register with South Korea regulator
Upbit submitted the business report that exchanges are required to file with South Korea’s FIU, upon completing real-name verification and partnering with a bank.
LINE digital currency exchange to pull Korean operations as regulatory deadline approaches
LINE’s Bitfront exchange is reportedly shutting down its Korean language service as of September 14, as well as halting all payment support for Korean credit cards by the same date.
Samsung confirms participation in Bank of Korea CBDC pilot
The pilot, which began at the end of July, aims to build a platform for supporting a central bank digital currency in Korea, and is being co-managed by Kakao subsidiary Ground X.
South Korea to shut down 11 local digital currency exchanges: report
The Financial Services Commission reportedly plans on denying 11 local exchanges approval to serve the South Korean market as it seeks to implement stricter regulations for the digital currency industry.
Here’s how Bank of Korea’s CBDC pilot is taking shape, as explained by blockchain exec
The pilot is to take part over two stages, with the initial basic testing phase set to conclude by December 2021, while the second phase is set to take place over the period to June 2022.
South Korea to seize digital currencies from tax dodgers in proposed law
To help share the burden of taking care of its aging population, the South Korean government has been hiking taxes for the wealthy and cracking down on money laundering.
South Korea warns foreign exchanges to register by Sept 24 or risk being shut down
Under the Specific Financial Information Act, any exchange operator that continues to operate past the deadline without registering is liable for a five-year jail term.