Tag: South Korea
All news related to Asian country South Korea
South Korea’s ruling party proposes another delay to crypto tax
Reading Time: < 1 minuteSouth Korea’s ruling Democratic Party has formally proposed postponing the planned tax on cryptocurrency gains, which is due to take effect on 1 January 2027.
South Korea tells crypto exchanges to increase cold storage after Binance hack
Reading Time: < 1 minuteSouth Korea’s Financial Services Commission (FSC) has called on domestic cryptocurrency exchanges to hold a larger share of customer assets in cold wallets following last week’s $6.3 billion Binance hack.
Bank of Korea surveys banks and brokerages on crypto-related risks
Reading Time: < 1 minuteThe Bank of Korea has asked 18 banks and 13 brokerages to assess their exposure to cryptocurrency-related risks, including the potential impact of a major exchange hack, a market crash or losses at another financial institution.
South Korea considers delaying crypto gains tax until 2029
Reading Time: < 1 minuteSouth Korea may postpone its planned tax on cryptocurrency gains for a fourth time, pushing its introduction to 2029, local news outlet Newsis reported.
South Korea’s crypto bill nears completion amid tax concerns
Reading Time: < 1 minuteSouth Korea’s proposed Digital Asset Basic Act is nearing the end of government consultations, Financial Services Commission chairman Lee Eog-weon said on Thursday, according to local media outlet Bloomingbit.
South Korea plans cybersecurity overhaul after attacks hit banks, crypto firms
Reading Time: < 1 minuteSouth Korea plans to tighten cybersecurity rules for financial institutions after a review found weaknesses at 130 of 555 companies, including crypto businesses.
South Korea proposes rules for tokenised securities ahead of 2027 rollout
Reading Time: < 1 minuteSouth Korea’s Financial Services Commission (FSC) has proposed new rules for issuing and trading tokenised securities.
South Korea crypto tax petition reaches 50,000 signatures
Reading Time: < 1 minuteA petition calling for South Korea to delay its planned crypto tax by two years has secured the 50,000 signatures required for review by a National Assembly committee.
Bithumb Postpones IPO Until After 2028 Amidst Enhanced Internal Controls
Reading Time: 2 minutesSouth Korean cryptocurrency exchange Bithumb has announced a significant delay to its anticipated Initial Public Offering (IPO), now targeting a public listing after 2028. This represents a further postponement from […]
Regulators to Tighten Controls After South Korea’s Tax Agency Leaks Wallet Seed Phrase
Reading Time: < 1 minuteSouth Korean authorities have initiated a comprehensive review of digital asset custody practices across government agencies after a costly mistake by the National Tax Service (NTS) led to the loss of millions of tokens.
South Korean Financial Watchdog Launches Full Investigation Into Bithumb Following $43 Billion Bitcoin Distribution Error
Reading Time: < 1 minuteSouth Korea’s primary financial regulatory body, the Financial Supervisory Service (FSS), has initiated a comprehensive formal investigation into the cryptocurrency exchange Bithumb.
FSS Vows Stricter Crypto Oversight and IT Penalties in New Policy Agenda
Reading Time: < 1 minuteCiting the need to protect investors and ensure orderly markets, South Korea’s Financial Supervisory Service has declared it will strengthen its supervision of the cryptocurrency arena and impose more severe sanctions on financial companies for IT-related accidents.
Korea Cracks Down: Crypto Exchanges and Their Owners Face Tough New Vetting Rules
Reading Time: < 1 minuteSouth Korea is raising the bar for operating a cryptocurrency exchange.
South Korean Regulator Advocates Stakes Cap for Crypto Exchanges
Reading Time: < 1 minuteIn a significant policy development, South Korea’s chief financial regulator has endorsed placing ownership ceilings on cryptocurrency exchanges.
Exclusive Bank Ties for Crypto Exchanges Face Scrutiny in South Korea
Reading Time: < 1 minuteSouth Korea is considering a major shift in crypto market rules by reviewing the requirement for exchanges to partner with only one bank.
South Korea Refers Three to Prosecutors in $102M Crypto-Laundering Case
Reading Time: < 1 minuteSouth Korean customs authorities have busted an alleged international money laundering ring that processed nearly 149 billion won ($101.7 million) using cryptocurrency and domestic banks.
New Legal Framework for Tokenized Securities Passes in South Korea
Reading Time: < 1 minuteSouth Korea has approved a bill to create a legal structure for security token offerings.
DAXA Warns Against Proposed Caps on Crypto Exchange Ownership
Reading Time: < 1 minuteA major South Korean digital asset alliance has criticized the government’s consideration of imposing ownership limits on cryptocurrency exchanges.
South Korea Proposes 5% Equity Cap for Company Crypto Holdings
Reading Time: < 1 minuteCorporate cryptocurrency investments in South Korea may soon be restricted to 5% of equity capital.
South Korea Postpones Crypto Legislation Amid Stablecoin Debate
Reading Time: < 1 minuteSouth Korean legislators have reportedly postponed the submission of a comprehensive digital asset bill, which includes provisions for domestic stablecoins, due to unresolved critical issues.
South Korean Lawmaker’s Alleged Pressure on Crypto Exchange Draws Scrutiny
Reading Time: < 1 minuteA South Korean lawmaker is under scrutiny following allegations that he sought to pressure a major cryptocurrency exchange after his son obtained a job at a competing platform.
South Korea Moves to Close Crypto Reporting Loophole for Small Transfers
Reading Time: < 1 minuteSouth Korea is set to expand its cryptocurrency monitoring to include transfers below 1 million won, targeting a regulatory gap exploited for moving illicit funds.
South Korea’s Ruling Party Sets Dec. 10 Deadline for Stalled Stablecoin Bill
Reading Time: < 1 minuteSouth Korea’s ruling Democratic Party has issued a final ultimatum to financial regulators, demanding a government proposal on stablecoin regulation by December 10.
Suspicions Point to Lazarus Group in New $30 Million Upbit Crypto Hack
Reading Time: < 1 minuteNorth Korea’s Lazarus Group is the prime suspect in a new $30.4 million hack targeting Upbit, South Korea’s largest cryptocurrency exchange.
Upbit Pledges Full User Reimbursement Following $37M Crypto Theft
Reading Time: < 1 minuteIn the wake of a $37 million hack targeting assets on the Solana network, Upbit has guaranteed that no customer will bear financial losses, promising to use its own reserve funds for compensation.
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