IMF Calls for Crypto Regulations in Seoul, South Korea Seeks Balance
The IMF’s chief urges swift and robust crypto regulations at a digital currency conference in Seoul, while South Korea’s vice financial regulator chief highlights the need for a balanced approach. The International Monetary Fund (IMF) has warned of the dangers of unregulated cryptocurrencies for global financial stability. Speaking at a digital currency conference in Seoul, […]
US, South Korea, Japan Collaborate to Tackle North Korea Cyberattacks
The US, Japan, and South Korea take strong steps to protect security interests by opposing North Korea’s use of cryptocurrency for money laundering. The US, South Korea, and Japan have launched ground-breaking plans to combat cyber threats, cryptocurrency abuse, and space launches as a united front against North Korea’s increasing threats. Concurrently, the joint endeavors, […]
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 […]
South Korea to Test CBDC with 100K Citizens in 2024
The Central Bank of South Korea says the Central Bank Digital Currency (CBDC) pilot program will involve using deposit tokens to purchase products by 100,000 Korean citizens, The testing will start “around September to October” of 2024 and last for three months. Participants will only be able to use the CBDC for payment purposes, with […]
Bank of Korea to Launch Infrastructure Pilot for CBDC
Private banks and public institutions will participate in the pilot, and the Bank for International Settlements (BIS) will provide technical support. South Korea researches central bank digital currencies (CBDCs) alongside an increasing number of countries. The Bank of Korea (BOK) will initiate a pilot initiative to investigate the technical infrastructure for a digital currency. The […]