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South Korea

South Korea: FSS probe into banks finds $3.1B digital assets linked to forex transactions
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30 July, 2022

South Korea: FSS probe into banks finds $3.1B digital assets linked to forex transactions

The Financial Supervisory Service has discovered KRW1.6 trillion ($1.2 billion) of forex transactions at five Woori Bank branches. Another KRW2.5...
South Korea: 2 banks face probe over failure to report digital currency trading gains
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29 July, 2022

South Korea: 2 banks face probe over failure to report digital currency trading gains

The remittances sent abroad are worth over KRW2 trillion and were said to have been made by trading the Kimchi...
South Korea halts 20% digital assets gains tax until 2025
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26 July, 2022

South Korea halts 20% digital assets gains tax until 2025

The regime was initially slated to come into force by October 2021, but lawmakers delayed the plan until January 2022...
South Korea’s failure to lift ban on P2E games discourages game makers: report
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23 July, 2022

South Korea’s failure to lift ban on P2E games discourages game makers: report

President-elect Yoon Suk-yeol promised to lift the P2E ban as part of his campaign to open up South Korea to...
South Korea: Prosecutors raid digital assets exchanges in Terra investigation
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22 July, 2022

South Korea: Prosecutors raid digital assets exchanges in Terra investigation

Investigators from the Seoul Southern District Prosecutors Office searched the offices of several digital assets exchanges to seize records and...
South Korea to start real-world testing of CBDC with 10 commercial banks: report
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18 July, 2022

South Korea to start real-world testing of CBDC with 10 commercial banks: report

The Bank of Korea has invited at least ten commercial banks, including Shinhan Bank and NH Nonghyup Bank, to be...
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