Tag: South Korea

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 ...

A South Korean blockchain consortium has completed a proof-of-concept (PoC) with BNK Busan Bank to test a blockchain-based payment and settlement system for digital local currencies, another step in the country's efforts to modernize public payments. The project was carried out by K-STAR, a digital currency technology alliance that includes ...

South Korea's financial regulator has referred two individuals to prosecutors over separate alleged cryptocurrency market manipulation schemes, stepping up enforcement against unfair trading in the digital asset sector. The decision was approved by the Financial Services Commission (FSC) during its 12th regular meeting on Wednesday. The cases involve alleged price ...

South Korean financial services firm Kiwoom Securities is in talks to acquire a stake in cryptocurrency exchange Bithumb, showing institutional interest in the country's digital asset market. According to local media outlet ChosunBiz, the discussions involve a third-party share allocation, where Bithumb would issue new shares for Kiwoom to purchase. ...

South Korea crypto remittances jump 380% in three years, surpassing banks as overseas money transfers and financial markets face growing pressure, with stocks dropping more than 10% in a sharp tech-led selloff that has raised concerns about wider market weakness across Asia. 🇰🇷 BREAKING: South Korea stocks crash 10%+ as ...

South Korean lawmakers and the Financial Services Commission (FSC) have agreed on a plan to cap equity ownership in domestic crypto exchanges at 20% for major shareholders. This means a single shareholder cannot hold more than that threshold under the new framework.   The move largely reflects South Korea’s disposition towards ...

KB Kookmin Bank has issued South Korea’s first U.S. dollar-denominated digital bond using blockchain technology. The $100 million, two-year bond was arranged solely by HSBC and marks a new step in the country’s use of blockchain for capital market products. The bond was issued through HSBC Orion, HSBC’s digital asset ...

South Korean police have carried out another search of crypto exchange Bithumb as part of an ongoing investigation into allegations involving independent lawmaker Kim Byeong-gi. The case centres on claims that Kim may have sought a hiring favour for his second son during a meeting with Bithumb executives. The Public ...

Quick Breakdown South Korea’s Financial Supervisory Service now using AI to monitor crypto markets. This helps regulators find manipulation more quickly and protect investors more effectively. AI systems now scan trades in real time to flag wash trading, pump-and-dump schemes, spoofing, and coordinated account activity that manual checks often miss. ...

South Korea’s crypto industry faces new uncertainty as lawmakers consider imposing ownership limits on centralized exchanges. This change could force major shareholders to sell significant stakes in the country’s largest trading platforms holdings Research Lead at FourPillers.  This proposal is part of the upcoming Digital Asset Basic Act Phase 2. ...