South Korea

South Korea warns foreign exchanges to register by Sept 24 or risk being shut down
-
27 July, 2021

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...
South Korean internet companies vie for digital currency pilot
-
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
-
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
-
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’
-
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
-
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...