Tag: south-korea

Sep 14 2022

South Korea Issues Arrest Warrant against Terra Co-Founder Do Kwon

A South Koren court has issued an arrest warrant against Do Kwon, the co- founder of collapsed stablecoin issuer Terraform Labs that rattled the crypto industry earlier this year, as announced by the country’s Financial Crimes Unit of the Supreme Prosecutors Office.

The...

Aug 31 2022

Upbit and Bithumb Post Massive Decline in H1 2022 Sales and Profits

South Korean cryptocurrency exchanges are struggling with the ongoing market dip as two of the major local players, Upbit and Bithumb, reported a massive decline in sales and profits in...

Aug 25 2022

KuCoin among 16 Illegal Crypto Exchanges Operating in South Korea

The South Korean authorities are now cracking down on overseas cryptocurrency exchanges as 16 such platforms operate in the country without authorization, local media The Korea Times reported.

Among the illegal platforms are reputed global names like KuCoin and MEXC, which, according to the Korea Financial Intelligence Unit, have allegedly...

Jul 27 2022

South Korea to Investigate Forex Transactions Linked to Crypto

South Korean watchdogs are reportedly opening inquiries into ‘abnormal’ forex transactions worth $3.1 billion linked to crypto investments suspected of money laundering.According to the Financial Times, the transactions took place in two of the biggest commercial banks in the country: Woori Bank and Shinhan Bank. The Financial Supervisory Service said that such moves worth 4.1 trillion Korean won also were done since...

Jul 12 2022

Small South Korean Exchanges Feared to Shut Down amid Crypto Sell-Off

Small cryptocurrency exchanges in South Korea have expressed their fears of closing down amid the ongoing strong crypto sell-off across the board. According to The Korea Times, a total of 26 crypto exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, are in operation in the country.This year, even major exchanges have seen a decline in transaction volume. In the second quarter of...

May 30 2022

South Korean Authorities Summon Employees at Terraform Labs

South Korean authorities keep launching investigations on Terraform Labs, the company behind the Terra Network, as they reportedly summoned all employees, according to local media outlets.

May 26 2022

South Korean Exchange Korbit to Delist LUNA

Korbit, a major South Korean cryptocurrency exchange, announced on Wednesday that it had delisted Terra (LUNA) from its platform. The maneuver comes after other platforms like Bithumb and Upbit mad...

May 23 2022

South Korean Crypto Exchanges Warn on Litecoin Transactions

Bithumb and Upbit, two major South Korean cryptocurrency exchanges, have issued warnings on Litecoin (LTC) over confidential transactions performed on its latest update.

May 19 2022

South Korean Agency Fines Terraform Labs for Tax Evasion

The saga with Terraform Labs and its co-founder Do Kwon keeps hitting the wires. A recent report unveiled that South Korea’s National Tax Service (NTS) has imposed Terraform Labs and Do Kwon a 100 ...

May 17 2022

South Korean Regulators Call for Emergency Inspection after LUNA Crash

As a result of the recent collapse of the TerraUSD and LUNA cryptocurrencies, South Korea’s financial authorities have launched emergency inspections of cryptocurrency exchange operators.

Mar 24 2022

South Korea’s SK Square to Launch Its Own Crypto

SK Square, the investment arm of South Korea-based giant SK Group, is reportedly working on launching its own cryptocurrency and a blockchain service alongside its partners.

Mar 15 2022

New South Korean President Seeks to Give a Local Crypto Push

Yoon Suk-yeol, South Korean President-elect, did some promises that can be taken as crypto-friendly ones, as he considers himself a crypto enthusiast that plans to push to the crypto industry.

Feb 21 2022

South Korea’s KB Bank to Offer Crypto Investment Fund

South Korean banks see the future of cryptocurrencies as KB Bank becomes the first lender in the country to consider offering crypto investment products to retail clients.

Jan 27 2022

Gen.G Esports Signs Partnership with South Korean Bithumb Crypto Exchange

On January 26, Gen.G, a global esports organization, announced its new partnership with Bithumb, a South Korean cryptocurrency exchange.

Jan 24 2022

Bank of Korea Completes First Phase of CBDC Testing

The Bank of Korea has completed the first phase of a central bank digital currency (CBDC) simulation testing in December 2021. Now, the regulator is going to proceed with the next phase.

Dec 30 2021

Coinone To Halt Withdrawal Services To Unverified External Wallets

Coinone – the third largest crypto exchange in South Korea – has announced that it will no longer allow withdrawals to non-verified external wallets beginning January 2022.

Nov 30 2021

South Korea to Delay Crypto Tax until 2023

The South Korean National Assembly will vote on the amendment on December 2.

South Korea to Delay Crypto Tax until 2023

Today, South Korea’s Finance Ministry confirmed that the National Assembly Planning and Finance Committee passed a bill to delay crypto taxation by one year.

Nov 15 2021

South Korean Financial Subcommittee Discusses Delay of Crypto Tax Law

A local media outlet noted that all the parties involved had heated discussions in the meeting about the matter.

Nov 04 2021

A Man Tried to Set Himself on Fire at Upbit Offices in South Korea

The unnamed South Korean individual was taken into custody by the police and charged with attempted arson.

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