South Korean lawmakers plan to toughen crypto fraud penalties
South Korean lawmakers plan to tighten crypto regulations and toughen the penalties for unethical commercial practices in the sector with a focus on protecting investors in virtual assets, such as digital currencies. Local media reports that the South Korean Financial Services Commission (FSC) and the National Assembly are working to pass a bill that would […]
Over $7.2B in Crypto Exchange Transacted Since June
According to the study, most of the Crypto Exchange transfers were made in U.S. dollars, and the majority of the money went to Hong Kong. According to South Korea’s banking authority, there have been $7.2 billion in “abnormal” foreign Crypto Exchange transfers since June, the majority of which were made through cryptocurrency exchanges, according to […]
Terra Co-Founder’s Passport To Be Invalidated By South Korea
On Wednesday, arrest warrants were sent out for the CEO of Terra and five other people. The prosecutors also asked for their passports to be invalidated — except for Nicholas Platias , another Terraform Labs founder, who is not a Korean national. Local media said on Thursday that South Korea’s Ministry of Foreign Affairs is […]
South Korean regulators will draft security tokens rules in 2022
A separate security tokens market will be established in South Korea and run by Korea Exchange. By the end of 2022, South Korea will unveil its security token regulations. Prior to the official institutionalization, a pilot market with a regulatory sandbox will be implemented concurrently. The Financial Services Commission (FSC), the leading financial regulator in […]
Busan City declares partnership with FTX to create local exchange
The “Blockchain” city of Busan in South Korea keeps forging alliances to promote the development of the cryptocurrency sector. The second-largest city in South Korea , Busan, has declared a partnership with cryptocurrency trading platform FTX in order to establish a local cryptocurrency exchange and promote blockchain innovation. According to a formal announcement made on […]