South Korea
Bank of Korea Moves to Monitor Crypto with New Asset Committee
South Korea’s central bank has refocused and renamed its central bank digital currency (CBDC) team to actively research digital currency, and it is rumored that it would establish a virtual…
Stablecoins May Soon Be Legal in South Korea Under New Legislation
Lee Jae-myung, the recently elected president of South Korea, is expediting his campaign pledge to permit the issuance of domestic stablecoins, as his party has advanced a cryptocurrency bill. According…
Upbit Crypto Exchange Faces Potential Suspension in South Korea Over Alleged KYC Violations.
The biggest cryptocurrency exchange in South Korea, Upbit, may be subject to regulatory penalties for alleged Know Your Customer (KYC) infractions. The exchange has received a suspension warning from South…
Former South Korean Lawmaker Sentenced to 6 Months for Concealing Cryptocurrency Assets.
Kim Nam-kook, a former Democratic Party of Korea lawmaker, was sentenced to six months in prison after being found guilty of concealing bitcoin holdings while serving in the National Assembly.…
Crypto Market Shaken by South Korea’s Emergency Martial Law.
In a televised speech, South Korean President Yoon Suk Yeol cited threats from “pro-North Korean anti-state forces” to proclaim emergency martial law late Tuesday local time. Yoon characterized the measure…
South Korea Freezes $104 million Worth of Assets Belonging to Terraform Labs.
The Seoul Southern District Court in South Korea gave the green light to freeze around $104 million worth of assets belonging to Shin Hyun-seung (Daniel Shin), the co-founder of Terraform…
South Korea Halts More Than $100 Million from Terra’s Co-founder.
Prosecutors in South Korea are still working to provide closure for the victims of Terraform Labs’ involvement in the year’s first crypto meltdown. Even if the cryptocurrency exchange FTX is…
South Korean Authorities Hold Do Kwon’s Crypto Worth $40 mn, Luna Founder Denies.
South Korean prosecutors have frozen $40 million in crypto assets belonging to Do Kwon, the co-founder of Terraform Labs. But Kwon has denied that any of his funds have been…
South Korea working on Metaverse Industry Promotion Law.
The South Korean government is working on a Metaverse Industry Promotion Law to promote development in the industry. This was proposed by representative Eun-ah Huh. It will lay out the…
Web 2 Metaverse Platform in South Korea Zepeto Receives a Web3 Redesign.
The South Korean atmosphere for crypto activities had been welcoming for the last couple of years. More recently, there are also a number of restrictive measures taken by the government…
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