The final deadline for registration for crypto exchanges in South Korea came to an end on September 24. And out of 40 odds crypto exchanges left in the country, only four made the final cut. South Korea's latest AML guidelines which came into effect in January require crypto exchanges to do away with shadow banking The post S.Korea Regulations: Here's the List of...
With the clock ticking down on crypto exchanges operating in South Korea, available information on the leading financial regulator’s website shows that only ten of these crypto firms have been able to successfully register with the authorities. Exchanges are racing against time in South Korea Just yesterday, 6 crypto exchanges Five, Gdac, Graybridge, OK-BIT,...
The Financial Services Commission (FSC) in South Korea has set a deadline for foreign and local crypto exchanges to register as legal trading platforms. The financial watchdog has set a September 24 deadline for exchanges to comply. This...
60 crypto exchanges in South Korea have been asked by the regulatory body to either partially or completely halt their services and inform the customers about it by Friday. The shut down of these exchanges comes as they failed to comply with the latest set of regulations that come into effect from next week. In The post S.Korea Crypto Crackdown: 60 Crypto Exchanges...
The moves by the South Korea Ministry of Strategy and Finance to tax incomes bordering on digital currencies as planned by January 1 may be an exercise in futility. Faulting the plans, one of the country’s lawmakers, Rep. Noh Woong- rae of the Democratic Party of Korea said the relevant authorities or stakeholders lack the right The post South Korean Lawmaker Says Deferring Crypto...
According to a press statement released by South Korea’s Financial Services Commission (FSC), over 20 crypto exchanges operating...
South Korea is known to host significant crypto trading activity. South Koreans were among the major players during the 2017 crypto boom. The country accounts for less than 1% of the world's population. But they were behind 30% of the crypto trading volume that year. This was according to estimates by fintech company Cindicator at the time. South Korea's Regulation On Crypto Industry...
Crypto exchange Binance has announced a discontinuation of South Korean Won trading pairs and language support. Crypto Exchange Binance Pulls Out Of South Korea As per an announcement on the firm's website, the platform no longer offers support for certain South Korea-related services....
The implementation of new regulatory policies for crypto exchanges in South Korea continues to haunt small and medium-sized crypto exchanges. As per a recent report from Korea Herald, a total of eleven mid-sized crypto exchanges may shut their operations amid growing regulatory scrutiny. The local report indicated that the country's top regulatory watchdog Financial Services The post 11 Mid-Size South Korean Crypto Exchanges...
South Korean regulators continue to impose strict regulatory policies around the crypto space. Financial Services Commission (FSC), the top regulatory body in the country is now targeting foreign crypto exchanges using the national Korean Fiat. The chief regulator said any foreign exchange serving Korean customers must register with the country's anti-money laundering body. The comments The post Just-In: Korean Regulators Extend AML Guidelines...
Woori Bank of Woori Financial Group is now providing digital asset custody services (DACS) in a joint venture (JV) with a bitcoin-based fintech solutions provider Coinplug Inc. With a hike in popularity, Digital asset custody services are spreading across institutions in South Korea. South Korea’s KB Kookmin Bank, largest among the top four banks in The post South Korea's Fourth-Largest Bank to Offer...
The Hong Kong subsidiaries of...
South Korea is one of the biggest cryptocurrency markets in the world. Cryptocurrency exchanges need to register to the revised financial legislation act by 24th September. Income from cryptocurrency trading will be taxed in S Korea by 2022. In South Korea cryptocurrency trading is gaining a fast...
The 200 crypto exchanges in South Korea may face closure by September as per Eun Sung-soo, the chair of South Korea's Financial Services Commission. The decision would be based on the new anti-money laundering laws(AML) that came into force last year and also included cryptocurrencies. As per new regulations, crypto exchanges operating in the country The post All 200 South Korean Exchanges May...
Bitcoin often trades at a premium in South Korea; what happens when this bullish spread quickly dissipates?The Kimchi premium—the spread between Bitcoin price on South Korean exchanges and Western exchanges—has always been an indicator attracting people’s attention in the bull market. The source of this spread is rooted in the inability to easily get a substantial amount of USD out of the...
Since March’s extreme volatility, Bitcoin price action has been far more stable. The major cryptocurrency has continued to hover around the $57,000 to $58,000 price level, seeing minimal fluctuations with the Bitcoin Volatility Index sitting at 3.21%. In South Korea, however, the resurgence of the local crypto scene and tightening regulations have led Bitcoin prices to surge to...
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