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South Korea

South Korean internet companies vie for digital currency pilot
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17 July, 2021

South Korean internet companies vie for digital currency pilot

Subsidiaries of Naver and Kakao are reported to have submitted proposals to run the 10-month blockchain pilot program, which will...
South Korea FSC: Overseas exchanges must register with AML body
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16 July, 2021

South Korea FSC: Overseas exchanges must register with AML body

The head of the Financial Services Commission said that these exchanges must comply with the revised laws that requires exchanges...
Former Bithumb chair indicted in South Korea amid claims of fraud, false promises
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8 July, 2021

Former Bithumb chair indicted in South Korea amid claims of fraud, false promises

Prosecutors in Seoul have indicted former chairman of Bithumb Holdings Lee Jung-hoon on fraud charges, while a former partner involved...
Digital currency exchanges threaten to sue South Korea gov’t over regulatory ‘buck pass’
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7 July, 2021

Digital currency exchanges threaten to sue South Korea gov’t over regulatory ‘buck pass’

New rules being implemented by the Financial Services Commission are reported to be causing significant worries for smaller digital currency...
South Korea seizes $47M from alleged digital currency tax evaders
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29 June, 2021

South Korea seizes $47M from alleged digital currency tax evaders

Authorities in South Korea have seized KRW53 billion ($47 million) from digital currency holders who have been accused of evading...
Bank digital currency clients to be considered ‘high risk’ in latest South Korea crackdown
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18 June, 2021

Bank digital currency clients to be considered ‘high risk’ in latest South Korea crackdown

The new rules will impact on some 60 unauthorized exchanges in the country, as well as forcing banks to regard...
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