No details on the timeline and methods of the examination were provided, but reportedly it would be conducted moderately as no wrongdoings have been registered in the country.
South Korea’s Crypto Firms Will Have to Self-Regulate Under New Guidance
Crypto firms will conduct their own self-assessments before regulators step in, a lawyer in South Korea told CoinDesk.
Regulation comes for crypto staking: Law Decoded, Feb. 6–13
Even the SEC Commissioner has publicly rebuked her agency over the shutdown of Kraken’s crypto staking program.
South Korea sets independent sanctions for crypto theft against North Korea
The sanctions against several well-known individuals and hacking groups came just hours after S. Korea announced a joint cyber venture with U.S. intelligence agencies against ransomware threats.
South Korean regulator provides guidance on security tokens
Digital assets that fit the descriptions for security tokens will be regulated under the country’s Capital Markets Act.
Binance re-enters South Korea with GOPAX exchange
With new capital, Binance plans to enable customer withdrawals and interest payments for Gopax’s yield product GoFi.
Arizona senator doubles down on crypto amid the winter of discontent: Law Decoded, Jan. 23-30
Even though this winter continues to stress test the case for Bitcoin advocation, some lawmakers strive to put their names on the crypto hot list.
South Korea to deploy cryptocurrency tracking system in 2023
The ‘Virtual Currency Tracking System’ will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance.
South Korean prosecutors request arrest warrant for Bithumb owner: Report
One of the country’s largest crypto exchanges has fallen under investigators’ scrutiny over allegations of embezzlement by company executives.
City of Busan to establish digital assets exchange: Report
The Busan Digital Asset Exchange Establishment Promotion Committee said it plans to create a functional exchange by the end of the year.
Law Decoded, Jan. 9-16: Gemini, Bithumb, Nexo are fresh targets for regulation and prosecution
While the FTX saga continues to make headlines, last week brought a plethora of new troubles for crypto companies in the United States, Europe and Asia.
Seoul government opens city’s metaverse project to public
According to Seoul Mayor Oh Se-hoon, the virtual environment will allow residents to access official documents, file complaints, and receive answers to questions on filing taxes.
Bithumb ordered to pay outage damages to investors by South Korean court
A ruling from local courts has Bithumb liable to pay just over $200,000 in damages to the 132 investors which filed against the cryptocurrency exchange.
Huobi clarifies Korean operations: Two separate entities aiming at same market
The company confirmed that it has already broken all the ties with Huobi Korea, its former subsidiary in South Korea.
South Korean regulators target Bithumb in new probe
South Korean National Tax Service agency launches an investigation on Bithumb, according to local reports.
Huobi Korea seeks to split from parent company, change its name: Report
Chairman Cho Kook-bong will also take over a majority of shares previously held by co-founder Leon Li.
Bithumb former chair Lee Jung-Hoon acquitted in the first instance
The former chair was under allegations of $70 million in fraud charges which were said to have occurred during the acquisition of Bithumb.
New year, same old troubles — The FTX saga continues in 2023: Law Decoded, Dec. 26-Jan. 2
Having been granted the opportunity to enjoy Christmas and the New Year with his family, former FTX CEO Sam Bankman-Fried has very few reasons for optimism in 2023.
Executives from $1.5B South Korean crypto exchange fraud jailed
The latest court action now takes the number of V Global execs behind bars up to seven, as the CEO, known as Mr. Lee was previously sentenced to a 22 year prison term.
South Korean court freezes $92M in assets related to Terra tokens
The CEO of Terraform Labs’ affiliate firm Kernel Labs reportedly held the largest amount in illegal proceeds from Terra.