South Korea’s central bank calls for clear legal authority over the issuance of stablecoins pegged to the Korean won, cautioning that their unregulated use could disrupt the country’s monetary policy framework. According to a senior official at the Bank of Korea (BOK), monetary authorities must be involved from the outset ...
In the first quarter of 2025, South Korea witnessed significant cryptocurrency outflows totalling nearly 57 trillion won, with dollar-based stablecoins making up almost half the total. This data, sourced from the Financial Supervisory Service and revealed by Democratic Party lawmaker Min Byung-duk, highlights the growing trend of capital migration from ...
South Korea’s Democratic Party leader and presidential frontrunner, Lee Jae-myung, has vowed to legalize spot cryptocurrency exchange-traded funds (ETFs) and introduce a range of crypto-friendly policies if elected in the upcoming June 3 presidential race. Lee unveiled his pro-crypto agenda on May 6, aiming to appeal to younger voters by ...
Starting in June 2025, South Korea's financial authorities will permit non-profit organizations and cryptocurrency exchanges to engage in unrestricted cryptocurrency trading. This regulatory update aims to enhance transparency and promote growth in the nation's digital asset sector. The Financial Services Commission (FSC) announced that registered non-profit entities and licensed exchanges ...
South Korea's ruling People Power Party has confirmed that the trading of spot digital asset ETFs will be permitted by the end of this year, according to local media outlet Edaily. For the first time, this development will allow domestic investors to gain exposure to major cryptocurrencies like Bitcoin and ...
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 ...
