South Korean cryptocurrency exchange Bithumb is under scrutiny after a lawmaker accused the platform of misleading users into paying higher transaction fees than advertised through deceptive design tactics. According to The Maeil Business Newspaper, Representative Kim Jae-sup of the People’s Power Party revealed that Bithumb raked in an additional 140.91 ...
Korea Digital Asset (KODA), South Korea’s largest institutional crypto custody service, is upgrading its anti-money laundering (AML) system to strengthen compliance ahead of new regulatory requirements. Established by Kookmin Bank, blockchain firm Haechi Labs, and investment company Hashed, KODA plays a key role in securing cryptocurrencies for major global clients. ...
South Korean presidential candidate Hong Joon-pyo has promised to remove cryptocurrency regulations, drawing a parallel to the regulatory rollback seen during the Trump administration in the U.S. His commitment aims to advance blockchain technology in the country. At a policy event in Seoul on April 16, Hong stated his intention ...
Bithumb has announced the addition of AMP to its Korean won (KRW) trading market, further expanding its digital asset offerings. Trading for AMP is set to commence at 4:00 PM KST on Friday, April 4, 2025, with a base price of 5.091 won. This follows the recent listing of Bubble ...
South Korea plans to open its cryptocurrency market to international investors, involving specific anti-money laundering (AML) regulations. The country’s financial regulatory body is exploring ways to expand opportunities for global participation in the crypto market. This intention was expressed by King Sung-ji, the head of the Financial Services Commission’s crypto ...
South Korea’s 7-Eleven stores have begun accepting payments in the country’s central bank digital currency (CBDC) as part of an ongoing pilot program set to run until June. Customers using CBDC for purchases at the convenience store chain will receive a 10% discount on all products during the test phase. ...
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 ...
