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CryptoCurrency

South Korea Seeks Ban on Crypto Purchases Using Credit Cards

  • The country’s financial regulator is concerned about the outflow of domestic funds overseas.
  • If everything is aligned, the rule is aimed to be in place by the end of H1 2024.
Thursday, 04/01/2024 | 08:43 GMT by Arnab Shome
CryptoCurrency

South Korean Lawmakers Conducted $97M in Crypto Transactions in 3 Years

  • One lawmaker accounted for 90 percent of all transactions.
  • The investigation found discrepancies with lawmakers' holdings and reported crypto assets.
Friday, 29/12/2023 | 09:02 GMT by Arnab Shome
Retail FX

South Korea Imposes $1.54 Million Fines on Global Hedge Funds for Market Breaches

  • The fine has been imposed on three undisclosed hedge funds.
  • Last month, a ban on short selling until June 2024 was announced.
Wednesday, 20/12/2023 | 13:46 GMT by Tareq Sikder
CryptoCurrency

South Korea's National Pension Service Bets Big on Coinbase with $20M: Report

  • 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.
Friday, 17/11/2023 | 13:52 GMT by Jared Kirui
CryptoCurrency

South Korean Crypto Exchange Bithumb Aims to Go Public by 2025

  • It aims to assert trust rather than raise money.
  • It now has a local market share of 15 to 20 percent.
Monday, 13/11/2023 | 08:43 GMT by Arnab Shome
Retail FX

South Korea's Short Selling Ban: Is it Time for a Blockchain-Based Stock Exchange?

  • Debates, implications, and global considerations.
Thursday, 09/11/2023 | 16:32 GMT by Pedro Ferreira
CryptoCurrency

What Steps is Busan Taking to Become a Blockchain City

  • Are blockchain cities an inevitability at this point?
Tuesday, 03/10/2023 | 07:39 GMT by Pedro Ferreira
Retail FX

Korea’s FX Market Paves the Way to Include Offshore Firms in New Regulation

  • The step by the Bank of Korea aims to boost foreign investment.
  • The revised decree will take effect on October 4, expanding market access.
Monday, 25/09/2023 | 15:09 GMT by Jared Kirui
CryptoCurrency

South Korean Lawmaker in Crypto Scandal Survives Expulsion Vote

  • 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.
Wednesday, 30/08/2023 | 19:07 GMT by Solomon Oladipupo
CryptoCurrency

Navigating Change: South Korea's Crypto Exchanges Brace for New Reserve Requirement

  • 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.
Monday, 28/08/2023 | 15:27 GMT by Jared Kirui
Retail FX

South Korea Reintroduces CFDs Trading after $77M Stock Scandal

  • Securities firms gear up for CFDs trading's return this September.
  • Despite past mishaps, brokers see the value in diversifying revenue streams.
Monday, 21/08/2023 | 13:21 GMT by Damian Chmiel
CryptoCurrency

South Korea Introduces Special Unit to Combat Illegal Crypto Activities

  • The unit is expected to protect investors in the country.
  • Crypto-related crimes have increased by nearly 120% in South Korea.
Wednesday, 26/07/2023 | 08:32 GMT by Jared Kirui
CryptoCurrency

South Korean Companies Required to Disclose Crypto Holdings under New Rules

  • The FSC said the new regulations will enhance accountability and transparency.
  • Companies are also required to declare profits made from crypto assets.
Wednesday, 12/07/2023 | 11:22 GMT by Jared Kirui
CryptoCurrency

South Korean Crypto Exchanges Unveil System for Checking Market Volatility

  • The system notifies users about abnormalities in the prices of cryptocurrencies.
  • DAXA, an alliance of five major cryptocurrency exchanges, operates the new system.
Tuesday, 04/07/2023 | 11:41 GMT by Jared Kirui
CryptoCurrency

South Korea's Crypto Firm Delio Temporarily Suspends Withdrawals

  • The company is blaming market volatility for the suspension.
  • Delio cited similar steps recently taken by another crypto firm, Haru Invest.
Thursday, 15/06/2023 | 10:00 GMT by Jared Kirui
Institutional FX

Foreign Traders Gain Easier Access to South Korea after 30 Years, CFDs Not Included

  • 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.
Monday, 05/06/2023 | 11:50 GMT by Damian Chmiel
Retail FX

South Korea Introduces Tight CFDs Trading Regulations

  • The regulations include proper classification of CFDs trading entities.
  • The regulators also recommended the suspension of CFDs trading for three months.
Monday, 29/05/2023 | 10:09 GMT by Arnab Shome
Regulation

South Korean Party Seeks Early Enforcement of Bill on Crypto Asset Declaration

  • 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.
Tuesday, 23/05/2023 | 16:24 GMT by FM Contributors
Regulation

South Korean Prosecutors Raid Third Crypto Exchange in Probe into Lawmaker

  • Following Upbit, Bithumb raids, investigators set their sights on Ozys PTE Ltd.
  • Raids part of ongoing investigation into Kim Nam-kuk's cryptocurrency activities
Monday, 22/05/2023 | 13:22 GMT by FM Contributors
Regulation

Crypto Scandal: South Korea’s Ruling Party Sends Team to Wemix Issuer

  • Probe into the independent lawmaker Kim Nam-kuk's crypto activities continues.
  • Prosecutors previously raided Upbit and Bithumb as part of the investigation.
Friday, 19/05/2023 | 14:51 GMT by FM Contributors
Regulation

Upbit, Bithumb Raided Following Lawmaker’s Crypto Scandal

  • PPP to launch internal task force probing opposition lawmaker's cryptocurrency dealings.
  • Potential lobbying efforts by the gaming industry will also be investigated
Monday, 15/05/2023 | 15:28 GMT by FM Contributors
CryptoCurrency

South Korean Lawmaker Faces Investigation over Suspicious Crypto Transfers

  • Kim Nam-kuk reportedly owned about 800,000 WEMIX coins in early 2022.
  • Court dismissed prosecutors' request for search warrant, Yonhap reports.
Monday, 08/05/2023 | 15:11 GMT by Solomon Oladipupo
Retail FX

News Nuggets | 3 May: BlackBull Adds DXtrade; Gate.io's New License

  • Also, South Korean FSS investigating CFDs sales; and new BDSwiss executive.
  • Read today's FX/CFDs, crypto and fintech sectors' dynamic news.
Wednesday, 03/05/2023 | 11:13 GMT by Finance Magnates Staff
CryptoCurrency

South Korean Crypto Exchange GDAC Loses 23% of Assets to Hackers

  • 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.
Monday, 10/04/2023 | 16:52 GMT by Solomon Oladipupo
CryptoCurrency

South Korea Uncovers $4.3B FX Transactions Linked to Crypto Speculation

  • 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.
Tuesday, 07/03/2023 | 18:24 GMT by Solomon Oladipupo
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