Binance is facing allegations of selling Gopax user deposit claims in Genesis Global without creditor approval, as reported by South Korean news outlet Hankyung. Binance is now the largest shareholder of the South Korean exchange Gopax. Last year, Binance-backed Gopax reportedly sold user claims in Genesis Global for less than ...
The South Korean government has announced that the Virtual Asset User Protection Act (VAUPA), its new regulations concerning cryptocurrencies and other related technologies, will come into full effect on July 18, 2024. The Financial Services Commission (FSC), in a recent press release, noted that these regulations aim to safeguard citizens' ...
The Bank of Korea has chosen three districts - Jeju, Busan, and Incheon - as pilot locations for the Central Bank Digital Currency (CBDC) trial. Referred to as the "private target CBDC test bed," this selection was confirmed on July 31, 2023, and notably excludes Seoul, the nation's capital. According ...
South Korean legislator Kim Nam-kuk has resigned from the Democratic Party following allegations of involvement in cryptocurrency activities while participating in the enactment of the country’s digital assets legislation. Kim declared his intention to prove his innocence and noted that his resignation would relieve party members of the burden caused ...
