Tag: South Korea

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. ...

According to reports, South Korean financial authorities have launched a formal investigation into Bithumb, the nation’s second-largest cryptocurrency exchange, after a catastrophic promotional error resulted in the accidental distribution of 620,000 “phantom” Bitcoin.  The Financial Supervisory Service (FSS) escalated its on-site review to a full-scale probe on Tuesday, February 10, ...

South Korea’s Financial Supervisory Service (FSS) is stepping up oversight of the cryptocurrency market, announcing a series of targeted investigations aimed at curbing manipulation and restoring order across digital asset trading. The plan was outlined on Sunday as part of the regulator’s 2026 policy roadmap, signalling a tougher stance on ...

Second Vice Foreign Minister Kim Ji-na announced that South Korea is open to reviewing sanctions against North Korea following recent U.S. actions targeting North Korean entities and individuals for illicit cyber activity. Pyongyang’s crypto thefts are believed to fund weapon and missile programs, raising alarm for South Korea’s digital and ...

Quick Breakdown  Crypto.com and Travel Wallet signed an MoU to introduce a KRW-pegged stablecoin and co-branded prepaid card. The collaboration will make crypto payments easier and more accessible for global travelers. The move strengthens Crypto.com’s Asian presence and supports the rise of crypto-integrated travel finance.   Crypto.com expands in South ...

Quick Breakdown  South Korea launches new crypto tracking systems to combat rising tax evasion. Virtual asset investors surge to 10.77 million, daily trades hit ₩6.4 trillion. ₩146.1 billion recovered from tax delinquents as crackdown widens to overseas transfers. As cryptocurrencies cement their place as a major investment class, South Korean ...

Quick Breakdown:  BDACS launched KRW1 as South Korea’s first proof-of-concept won stablecoin, fully backed 1:1 by Woori Bank reserves. The stablecoin features real-time reserve verification, planned audits, and compliance modules to meet future regulations. KRW1 aims to enable secure payments, remittances, and institutional settlement once Korea’s digital asset framework takes ...

Quick Breakdown:  Executives from Tether and Circle are holding high-level meetings with South Korea’s major banks—Shinhan, Hana, KB Financial, and Woori.  Discussions focus on distributing dollar-pegged stablecoins and issuing won-backed tokens.  This aligns with President Lee Jae Myung’s pro-crypto agenda and upcoming stablecoin regulations, positioning South Korea as a potential ...

Quick Breakdown:  Executives from Tether and Circle are holding high-level meetings with South Korea’s major banks—Shinhan, Hana, KB Financial, and Woori.  Discussions focus on distributing dollar-pegged stablecoins and issuing won-backed tokens.  This aligns with President Lee Jae Myung’s pro-crypto agenda and upcoming stablecoin regulations, positioning South Korea as a potential ...

Quick Breakdown:  Executives from Tether and Circle are holding high-level meetings with South Korea’s major banks—Shinhan, Hana, KB Financial, and Woori.  Discussions focus on distributing dollar-pegged stablecoins and issuing won-backed tokens.  This aligns with President Lee Jae Myung’s pro-crypto agenda and upcoming stablecoin regulations, positioning South Korea as a potential ...