Tag: South Korea

South Korea’s central bank has raised its benchmark interest rate for the first time since January 2023. This step could further slow activity in one of the world’s largest retail cryptocurrency markets. The Bank of Korea increased its policy rate by 25 basis points to 2.75% on July 16, with ...

South Korea's Financial Services Commission (FSC) is preparing new rules for single-stock leveraged exchange-traded funds (ETFs), arguing that the products have become a source of financial risk as market volatility increases. FSC Chairman Lee Eog-weon said the regulator is reviewing measures for the high-risk investment products and will announce them ...

South Korea is preparing a new law that would allow the government to officially manage cryptocurrencies and other digital assets as part of its state-owned holdings, marking another step in the country's broader blockchain strategy. The Ministry of Economy and Finance announced during a policy briefing at the Presidential Office ...

South Korea's National Tax Service (NTS) has created a dedicated Digital Assets Management Division as it prepares to begin taxing digital assets from January 2027. The new division will oversee virtual asset taxation, compliance systems, tax administration, and digital asset management. The agency has already appointed Lee Soon-yong to lead ...

South Korea has set 2027 as the target for a pilot project that will connect tokenized government bonds to its wholesale central bank digital currency (CBDC) infrastructure, marking a major step in bringing blockchain technology into the country's capital markets. The plan was included in the government's 2026 Economic Growth ...

South Korea's government plans to introduce the long-awaited Digital Asset Framework Act in the second half of 2026, alongside measures supporting stablecoins, spot Bitcoin exchange-traded funds (ETFs), and blockchain-based financial infrastructure. The roadmap was included in the government's 2026 Economic Growth Strategy, released on July 14. The proposed legislation, often ...

Circle is stepping up its expansion in South Korea with an invitation-only event aimed at strengthening ties with the country's financial sector. The USDC issuer will host Current Seoul on July 23 at the Josun Palace hotel, bringing together senior executives from banks, crypto exchanges, payment companies, and super-app operators. ...

South Korea's central bank has renewed its call for a legal framework for won-backed stablecoins, with Bank of Korea Governor Shin Hyun-song urging lawmakers to move quickly while insisting that banks should play the leading role in issuing the digital assets. Speaking before the National Assembly's Finance, Economy and Planning ...

South Korean cryptocurrency exchange Upbit’s operator, Dunamu, has emerged as the preferred bidder to manage digital assets seized by the country's police, a step in the government's efforts to improve the handling of confiscated cryptocurrencies. Procurement records published by South Korea’s Public Procurement Service show Dunamu ranked first in the ...

South Korea has delayed any immediate action against crypto-based prediction market Polymarket, giving the platform an opportunity to explain how its service operates before regulators decide whether it violates the country's gambling laws. South Korea is actively reviewing and updating its crypto regulations. The country has delayed enforcement against Polymarket ...