South Korea’s Crypto Investors Boosts CEX Profits by 106%
Investment portfolios in South Korea remain modest, with 67% of investors holding less than 500,000 won ($362) in crypto assets. During this time period, South Korean cryptocurrency investors witnessed a substantial rise, which coincided with the profitability of the digital asset exchanges in the country. There were 7.78 million cryptocurrency investors in South Korea during […]
Paycoin to End Wallet Services in South Korea
The Paycoin app’s virtual asset custody service will end in South Korea, according to a statement released by PayProtocol AG. This decision is due to difficulties with the domestic regulatory framework, which have kept PCI’s payment services from reopening since February 2023. The company has made the decision to concentrate on its expanding global payment […]
South Korea Fines Worldcoin $829K for Violating PIPA
South Korea’s watchdog levied a fine of 1.1 billion Korean won ($829,000) against the Worldcoin Foundation and its affiliate Tools For Humanity (TFH) for violating the country’s Personal Information Protection Act (PIPA). The country’s Personal Information Protection Commission (PIPC) announced in a plenary session on September 25 that the company would be fined $829,000 for […]
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 […]
Chainalysis: Premium Index Boosts South Korean Crypto Market
The Korea Premium Index drives price increases in South Korea’s crypto market, where institutional trading is crucial. A recent report from Chainalysis shows that South Korea’s cryptocurrency market is experiencing significant growth, largely driven by the rise in the Korea Premium Index. The report emphasizes that local demand, institutional trading, and specific market dynamics in […]