A report from Munhwa on March 27 revealed that the Government Public Ethics Committee in South Korea disclosed the personal assets of public officials. It found that 20% of public officials, or 411 out of 2,047, either directly hold or have invested in cryptocurrency. Among the officials with crypto holdings ...
South Korean authorities have blocked access to several foreign cryptocurrency exchange apps on Google Play, including Poloniex, KuCoin, MEXC, Phemex, and Bitrue, citing their unregistered status in the country. In a March 26 press release, the Financial Intelligence Unit (FIU) announced that Google has begun restricting access to 17 such ...
South Korean prosecutors have launched an investigation into cryptocurrency exchange Bithumb, reportedly raiding its headquarters over allegations that company funds were misused to support a former CEO’s apartment purchase. According to a report from local media outlet YTN, the Seoul Southern District Prosecutor’s Office carried out the raid at Bithumb’s ...
South Korea’s central bank has ruled out the possibility of adding Bitcoin to its foreign exchange reserves. On March 16, local media outlet Yonhap reported that the Bank of Korea (BOK) dismissed the idea in response to a written inquiry from Representative Cha Gyu-geun of the National Assembly’s Planning and ...
South Korea’s Financial Services Commission (FSC) is gearing up to introduce a structured regulatory framework for institutional cryptocurrency investments, with a phased rollout set to begin in April. Vice Chairman Kim So-young confirmed the initiative during a March 12 meeting with local crypto industry experts, emphasizing the government’s commitment to ...
South Korea is gearing up to launch a large-scale real-world test of its central bank digital currency (CBDC) this March, involving 100,000 consumers and seven major banks. According to local reports, the pilot will feature financial giants such as KB Kookmin, Shinhan, and Hana Bank, marking a significant step in ...
South Korea’s ruling People Power Party (PPP) is reportedly considering the approval of cryptocurrency-based exchange-traded funds (ETFs). According to the Korea Times, Kim Sang-hoon, the PPP’s top policymaker, told reporters on March 7 that the government and the party would assess global trends and regulatory infrastructure before making a decision. ...
South Korean regulators are intensifying efforts to prevent financial crimes and strengthen the integrity of the nation's financial system, particularly in the rapidly evolving crypto landscape. The country's Financial Intelligence Unit (FIU) is reportedly tightening anti-money laundering (AML) regulations by strengthening oversight of crypto transactions. Local news outlet Wow TV ...
The Seoul Southern District Prosecutors’ Office has officially launched a dedicated Joint Investigation Unit (JIU) to combat cryptocurrency-related crimes, marking a significant step in the country’s crackdown on digital asset fraud. According to a report from local news outlet Aju News, the newly established unit, known as the Joint Investigation ...
Ripple Labs has partnered with South Korean digital asset custody provider BDACS to enhance institutional custody services for XRP and Ripple USD (RLUSD). This collaboration will allow BDACS to incorporate Ripple Custody, enabling financial institutions in South Korea to store XRP, RLUSD, and other digital assets securely. Monica Long, president ...
