Binance Seeks to Reduce Stake in Operator of South Korean Crypto Exchange Gopax to 10%

Binance is reportedly seeking to reduce its stake in the South Korean crypto exchange Gopax’s parent company, Streami, to approximately 10%. Binance’s mooted sale of the stake to Megazone comes just over a year after Binance acquired the controlling stake. The exchange needs to offload the stake well before the August 11 deadline for reporting … Read more

South Korean Universities Face Banking Hurdles in Converting Crypto Donations to Cash

South Korea’s regulations prohibiting corporations from opening virtual asset exchange accounts are making it impossible for local universities to liquidate their large cryptocurrency donations. Financial authorities cite money laundering concerns as the reason for maintaining the ban. Education Ministry and Financial Intelligence Unit Favor Maintaining Ban South Korean universities are reportedly unable to convert cryptocurrency … Read more

South Korea Launches Investigation Into Worldcoin’s Data Collection Practices

The government of South Korea has opened an investigation into Worldcoin, the iris scanning cryptocurrency and digital wallet project. According to a press release, the Personal Information Protection Commission, the data privacy watchdog in the country, will investigate the actions taken by Worldcoin regarding the treatment of the data collected from users and will take … Read more

South Korea to Expel Crypto Exchanges Failing to Meet Its Stringent Conditions

Cryptocurrency exchanges that fail to meet South Korea’s stringent operating standards will be expelled from the crypto market, the country’s financial intelligence agency has said. The Financial Intelligence Unit said its annual work plan incorporates the insights of cryptocurrency experts serving on its advisory committees. South Korea to Deploy System for Identifying Suspicious Transactions South … Read more