South Korea is reportedly set to launch a specialized unit dedicated to combating cryptocurrency-related crimes. According to local reports, the country’s Ministry of Justice published a proposal to establish the Joint Investigation Unit (JIU) for Virtual Asset Crimes as a full-fledged department within the prosecution service. The unit ...
Authorities in Jeju Island, South Korea, have arrested six Chinese nationals for allegedly stealing 1 billion won (around $689,000) during a stablecoin exchange. The incident took place on January 20 at a local hotel, as reported by Maeil Business Newspaper and the Jeju Western Police. The Jeju Western Police reported ...
Upbit, South Korea's leading virtual asset exchange, is facing a suspension of its business operations due to alleged non-compliance with anti-money laundering (AML) regulations and breaches of the KYC system. According to a local news report, The Financial Intelligence Unit (FIU) under the Financial Services Commission (FSC) issued a preliminary ...
South Korea’s Financial Services Commission (FSC) has reportedly initiated the second phase of discussions on the country’s crypto regulations, the Virtual Asset User Protection Act. During a recent meeting in Seoul, FSC Vice Chairman Kim So-young emphasized the importance of keeping up with global regulatory trends. He highlighted examples such ...
Upbit, a significant cryptocurrency exchange in South Korea, has cautioned investors holding the Internet of Services Token (IOST) as the blockchain project undergoes a critical transition. This warning, released on January 13, comes in response to guidelines issued by the Digital Asset eXchange Alliance (DAXA), which expressed concerns about potential ...
A recent survey by News1 indicates that South Korean cryptocurrency investors have again shown a strong preference for Bitcoin, which remains the most preferred digital asset, with Ripple (XRP) now in second place, surpassing Ethereum (ETH). The survey was conducted on the blockchain-based voting platform, The POL, from December 24 ...
The Financial Services Commission (FSC) of South Korea has announced an initiative to gradually permit corporate investment in virtual assets, aiming to boost Web3 adoption. As part of its 2025 business plan, the FSC will discuss with the Virtual Asset Committee about approving real-name accounts for corporations, starting with non-profit ...
The local authorities of Jeju Island, South Korea's largest and most popular tourist destination, are reportedly planning to launch NFT-based digital tourism resident cards in late 2025. According to local media outlet Maeil Kyungjae, the move is part of an effort to attract Gen Z tourists, drive economic growth and ...
Eun-bo Jeong, Chairman of the South Korea Exchange, has expressed interest in pursuing the approval of cryptocurrency exchange-traded funds (ETFs) as part of efforts to revitalize the country's financial markets. South Korean media outlet The Fact reported that during his address at the 2025 Securities and Derivatives Market Opening Ceremony ...
The United States and South Korea are reportedly collaborating on developing advanced mechanisms to combat cryptocurrency thefts allegedly tied to North Korea. According to South Korea's Yonhap News Agency, the two nations have signed an agreement to jointly develop technologies to prevent cryptocurrency thefts, with plans extending through 2026. The ...
