South Korea Passes Virtual Asset User Protection Bill
The Virtual Asset User Protection bill in South Korea aims to tackle unfair cryptocurrency trading and safeguard cryptocurrency investors from collapses like the Terra ecosystems’. The National Assembly passed Virtual Asset User Protection legislation on June 30. According to SBS Biz, the bill is intended to regulate unfair trade practices and defend crypto investors. The […]
OpenAI CEO Highlights South Korean Chips Sector for AI Growth
Sam Altman, the CEO of OpenAI, recently had discussions with chip-producing firms like Samsung Electronics and expressed his willingness to continue these conversations. Altman met with President Yoon Suk Yeol and urged South Korea to lead in chip production for AI technology during his visit. He also expressed interest in partnering with significant chipmakers like […]
South Korea To Implement System That Freezes Funds On Top Crypto Exchanges
The National Police Agency of South Korea will meet with Binance and the top five cryptocurrency exchanges in South Korea to discuss plans to implement a system with real-time wallet address monitoring and freeze funds capabilities. Local news outlets reported that the National Police Agency would hold a virtual asset exchange working meeting with Binance […]
Bill for Officials to Disclose Bitcoin Holdings Gets Approval in Korea
The South Korean government is implementing the “Kim Nam-guk Prevention Law”, a regulatory bill requiring officials to disclose their Bitcoin holdings. The National Assembly of South Korea has unanimously passed a bill requiring lawmakers and high-ranking public officials to disclose their crypto assets. The new measure was passed during a plenary session on May 25, […]
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 […]