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Retail FX
South Korea Imposes $1.54 Million Fines on Global Hedge Funds for Market Breaches
2023-12-20T15:46:24.586+02:00
The fine has been imposed on three undisclosed hedge funds.
Last month, a ban on short selling until June 2024 was announced.
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CryptoCurrency
South Korea's National Pension Service Bets Big on Coinbase with $20M: Report
2023-11-17T15:52:43.267+02:00
NPS has reported an appreciation of 40% in its investment in the crypto exchange.
This step happens amid heightened scrutiny of the crypto sector in South Korea.
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CryptoCurrency
South Korean Crypto Exchange Bithumb Aims to Go Public by 2025
2023-11-13T10:43:33.277+02:00
It aims to assert trust rather than raise money.
It now has a local market share of 15 to 20 percent.
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Retail FX
South Korea's Short Selling Ban: Is it Time for a Blockchain-Based Stock Exchange?
2023-11-09T18:32:09.454+02:00
Debates, implications, and global considerations.
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CryptoCurrency
What Steps is Busan Taking to Become a Blockchain City
2023-10-03T09:39:08.052+02:00
Are blockchain cities an inevitability at this point?
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Retail FX
Korea’s FX Market Paves the Way to Include Offshore Firms in New Regulation
2023-09-25T17:09:07.910+02:00
The step by the Bank of Korea aims to boost foreign investment.
The revised decree will take effect on October 4, expanding market access.
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CryptoCurrency
South Korean Lawmaker in Crypto Scandal Survives Expulsion Vote
2023-08-30T21:07:18.894+02:00
A parliamentary vote to dismiss the legislator ended in a stalemate, Yonhap reported.
Kim Nam-kuk reportedly transferred his WEMIX holding worth $4.5M to evade a new rule.
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CryptoCurrency
Navigating Change: South Korea's Crypto Exchanges Brace for New Reserve Requirement
2023-08-28T17:27:04.787+02:00
Crypto exchanges in the country must have a minimum reserve of 3 billion KRW from September.
The reserves are intended to safeguard users in case of hacks and exploits.
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Retail FX
South Korea Reintroduces CFDs Trading after $77M Stock Scandal
2023-08-21T15:21:52.053+02:00
Securities firms gear up for CFDs trading's return this September.
Despite past mishaps, brokers see the value in diversifying revenue streams.
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CryptoCurrency
South Korea Introduces Special Unit to Combat Illegal Crypto Activities
2023-07-26T10:32:46.962+02:00
The unit is expected to protect investors in the country.
Crypto-related crimes have increased by nearly 120% in South Korea.
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CryptoCurrency
South Korean Companies Required to Disclose Crypto Holdings under New Rules
2023-07-12T13:22:30.510+02:00
The FSC said the new regulations will enhance accountability and transparency.
Companies are also required to declare profits made from crypto assets.
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CryptoCurrency
South Korean Crypto Exchanges Unveil System for Checking Market Volatility
2023-07-04T13:41:34.747+02:00
The system notifies users about abnormalities in the prices of cryptocurrencies.
DAXA, an alliance of five major cryptocurrency exchanges, operates the new system.
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CryptoCurrency
South Korea's Crypto Firm Delio Temporarily Suspends Withdrawals
2023-06-15T12:00:31.240+02:00
The company is blaming market volatility for the suspension.
Delio cited similar steps recently taken by another crypto firm, Haru Invest.
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Institutional FX
Foreign Traders Gain Easier Access to South Korea after 30 Years, CFDs Not Included
2023-06-05T13:50:22.212+02:00
South Korean government is changing unfavorable laws after 30 years.
Unfortunately, the changes will only refer to the stock and bond market, not CFDs or cryptos.
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Retail FX
South Korea Introduces Tight CFDs Trading Regulations
2023-05-29T12:09:12.687+02:00
The regulations include proper classification of CFDs trading entities.
The regulators also recommended the suspension of CFDs trading for three months.
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Regulation
South Korean Party Seeks Early Enforcement of Bill on Crypto Asset Declaration
2023-05-23T18:24:40.016+02:00
The new bill will require lawmakers to disclose their crypto asset holdings.
The call for earlier implementation comes as Kim Nam-kuk faces a crypto scandal.
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Regulation
South Korean Prosecutors Raid Third Crypto Exchange in Probe into Lawmaker
2023-05-22T15:22:46.661+02:00
Following Upbit, Bithumb raids, investigators set their sights on Ozys PTE Ltd.
Raids part of ongoing investigation into Kim Nam-kuk's cryptocurrency activities
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Regulation
Crypto Scandal: South Korea’s Ruling Party Sends Team to Wemix Issuer
2023-05-19T16:51:05.518+02:00
Probe into the independent lawmaker Kim Nam-kuk's crypto activities continues.
Prosecutors previously raided Upbit and Bithumb as part of the investigation.
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Regulation
Upbit, Bithumb Raided Following Lawmaker’s Crypto Scandal
2023-05-15T17:28:39.924+02:00
PPP to launch internal task force probing opposition lawmaker's cryptocurrency dealings.
Potential lobbying efforts by the gaming industry will also be investigated
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CryptoCurrency
South Korean Lawmaker Faces Investigation over Suspicious Crypto Transfers
2023-05-08T17:11:51.370+02:00
Kim Nam-kuk reportedly owned about 800,000 WEMIX coins in early 2022.
Court dismissed prosecutors' request for search warrant, Yonhap reports.
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Retail FX
News Nuggets | 3 May: BlackBull Adds DXtrade; Gate.io's New License
2023-05-03T13:13:22.510+02:00
Also, South Korean FSS investigating CFDs sales; and new BDSwiss executive.
Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
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CryptoCurrency
South Korean Crypto Exchange GDAC Loses 23% of Assets to Hackers
2023-04-10T18:52:39.680+02:00
A total of $14.2M was stolen in crypto, according to latest prices on CoinMarketCap.
GDAC has sought help from the Korean Police, KISA and FIU.
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CryptoCurrency
South Korea Uncovers $4.3B FX Transactions Linked to Crypto Speculation
2023-03-07T20:24:34.379+02:00
Regulators last July flagged crypto-linked FX transactions worth $3.1 billion.
The country also started cracking down on 16 illegal crypto exchanges last year.
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Institutional FX
South Korea Revises Decades-Old Forex Transaction Rules
2023-02-10T22:26:53.969+02:00
The country has approved nine securities firms to engage in currency exchange business.
South Korea recently announced plans to embrace offshore firms in its forex markets.
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Institutional FX
South Korea to Allow Offshore Firms to Participate in FX Markets
2023-02-07T11:09:50.509+02:00
The country will also keep the FX markets open until 2 am.
The changes will be implemented in the second half of 2024.
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