South Korean crypto exchanges face unexpected supervisory fees
Introducing supervisory fees marks a crucial step toward increased regulation and oversight. Go to Source
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South Korea Launches Continuous Monitoring for Crypto Transactions
South Korea’s Financial Supervisory Service (FSS) will introduce a continuous monitoring system on July 19 to track suspicious cryptocurrency transactions. Developed with local digital asset exchanges, this system aligns with the country’s Virtual Asset User Protection Act, which aims to regulate trade practices and protect investors. Major Korean crypto exchanges, including Upbit, Bithumb, Coinone, Korbit, … Read more
US ETH ETF approval pressures Korean regulators
Unlike their U.S. counterparts, Korea’s FSC and FSS have been cautious about allowing crypto trading on traditional securities markets. Go to Source
South Korea to Regularly Inspect Crypto Risks With New Monitoring Tools
South Korea’s financial regulator is developing new tools to regularly monitor crypto risks. The regulator warned that while the impact of the crypto market on the traditional financial system is still low, the risks posed by crypto to the country’s financial stability could increase sharply in the future. Korean Regulator Developing Crypto Monitoring Tools South … Read more
Korean Regulator Takes Action Against 16 Foreign Crypto Exchanges
The South Korean financial intelligence unit is taking action against 16 foreign cryptocurrency exchanges for operating illegally in the country. “For illegal business activities of unregistered entities, maximum of 5 years of imprisonment or up to KRW 50 million of fines can be imposed,” the regulator said. 16 Foreign Crypto Exchanges Flagged by South Korean … Read more
Korean regulators investigate banks over $6.5B tied to Kimchi premium
South Korean financial regulators are looking into the massive amount of foreign remittances of cash that came from crypto exchanges. Go to Source Powered by WPeMatico
Korean exchanges agree on emergency system in case of Terra-style collapse
Korean exchanges will soon be required to list tokens based on the same guidelines to ensure compliance with local regulations, and make emergency decisions together to prevent another Terra fiasco. Go to Source Powered by WPeMatico
Korean Exchanges Delist High-risk Coins as They Face Tough Regulations
Crypto trading platforms in South Korea are delisting certain digital currencies as they move to comply with stricter rules for the industry. The trading of some high-risk coins has been either halted or completely suspended on several Korean exchanges this week. South Korean Exchanges Wipe Trading Lists of Risky Digital Assets Trying to meet Seoul’s … Read more
South Korean Financial Supervisory Service Tasked With Crypto Market Oversight
The Financial Supervisory Service of South Korea will lead government efforts to oversee the country’s expanding cryptocurrency market. The agency has been tasked with the job after prolonged discussions over which Korean regulator should be responsible for the industry. Financial Supervisory Service Takes Responsibility for Crypto Sector in Korea It took the government months to … Read more
South Korea Cracks Down on Unauthorized Cryptocurrency Funds
South Korean financial regulators are cracking down on unauthorized cryptocurrency funds. In particular, one crypto fund launched by a local exchange is reportedly being investigated. The exchange claims no wrongdoing as its token activities were carried out overseas, but has promptly canceled its plan to launch a second fund. Also read: Yahoo! Japan Confirms Entrance Into … Read more
