South Korean Foundation to Return Funds from Defunct Exchanges
The Digital Asset User Protection Foundation, established to facilitate the return of funds frozen in defunct exchanges, will provide a new ally to South Korean cryptocurrency exchange customers. The self-regulatory Digital Asset Exchange Joint Consultative Group (DAXA) submitted an initiative to establish the foundation to South Korea’s Financial Services Commission (FSC). Activities for the foundation […]
South Korean Regulators Urge Users to Report Unlicensed Crypto Exchanges
On December 4, South Korean financial regulators issued an update requesting that users report any unlicensed crypto exchanges that provide services to users within the region. The initiative was a joint effort between the Financial Intelligence Unit (FIU) of South Korea and the Digital Asset Exchange Association (DAXA). Upbit, Bithumb, Coinone, Korbit, and Gopax are […]
SUI Coin Under Scrutiny for Lying About Circulation Volume
Sui Coin is facing a probe by the Financial Supervisory Service (FSS) for allegedly lying about its circulation volume and staking profits. The Financial Supervisory Service (FSS) is looking into Sui Coin for allegedly lying about its circulation volume and staking revenues. The Joint Council of Digital Asset Exchanges (DAXA), which Sui Coin used to […]
Warnings Lifted: KAVA, WAVES Trading Resumes in Korea
KAVA and WAVES, two cryptocurrencies linked to stablecoins been removed from the South Korean exchanges’ warning list, and their deposit services have been restored. DAXA , a self-regulatory organization for South Korean exchanges, designated KAVA and WAVES as warning items due to their unstable stablecoins USDX and USDN. However, the exchanges have resolved the risk […]