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South Korean Crypto Exchanges Restrict Russians’ Access Over War in Ukraine

March 4, 2022

Major South Korean cryptocurrency exchanges have introduced restrictions for Russian users, effectively joining western sanctions over Moscow’s military invasion of Ukraine. The measures include blocking IP addresses originating from the Russian Federation. Largest Korean Exchange May Deny Withdrawals From Russia Several crypto trading platforms in South Korea, including the country’s largest, are banning access from…
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Binance Partners With Korean Entertainment Corporation — NFT and Metaverse Collaborations Envisioned

February 10, 2022

Binance and the South Korean entertainment corporation, YG Entertainment, have signed an agreement that enables the two firms to collaborate on blockchain projects that include non-fungible tokens (NFTs). They also plan to develop games that are compatible with the Binance Smart Chain (BSC). NFTs, Games, and Metaverse Collaborations Cryptocurrency exchange Binance and YG Entertainment Inc.,…
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Presidential Candidate in South Korea to Raise Funds in Cryptocurrency, Issue NFTs

January 3, 2022

Lee Jae-myung, nominated by the ruling party in South Korea for the upcoming presidential elections this spring, is preparing to raise funds in cryptocurrencies and issue non-fungible tokens for supporters. His campaign hopes that the initiative will woo young and tech-savvy Korean voters whose interest in digital assets is growing. Ruling Party of South Korea…
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Korean Officials Quit Jobs to Join Crypto Industry, Lawmaker Reveals

December 13, 2021

Public officials in South Korea are increasingly choosing career opportunities in the cryptocurrency sector. Some of them come from financial authorities which raises ethical questions, according to the findings of a Korean lawmaker, quoted by local media. Former Financial Officials Hired by Major Korean Exchanges A growing number of officials in Seoul are vacating their…
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Finance Committee Approves Legislation Delaying Crypto Tax in South Korea

November 30, 2021

Changes meant to postpone the introduction of a tax on virtual assets such as cryptocurrencies in South Korea have been approved by an important parliamentary committee. The draft legislation seeks to delay Seoul’s plan to impose a 20-percent levy on gains from crypto transactions. Ahead of Election, Major Parties Support Tax Break for Crypto Investors…
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10 Crypto Exchanges File for Registration With Korean Regulators Ahead of Deadline

September 24, 2021

Cryptocurrency exchanges in South Korea have until midnight on Friday to register with financial authorities in order to continue operating legally. Only 10 digital asset trading platforms have already submitted their documents to the Korean anti-money laundering body. Compliance Deadline for New Korean Crypto Regulations Expires Friday Registering with Korea’s Financial Intelligence Unit (FIU) is…
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Korean Province Seizes Cryptocurrencies From 1,661 Investors for Unpaid Fines

September 21, 2021

A South Korean province has seized cryptocurrencies worth over $5 million from 1,661 investors who were more than $12 million in arrears on their fines in total. The seizure followed an investigation of nearly 30,000 companies and individuals as well as their cryptocurrency holdings at four exchanges. Korean Province Confiscates Cryptocurrencies for Unpaid Fines The…
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Major Korean Exchanges Secure Real-Name Account Arrangements With Local Banks

September 10, 2021

Leading cryptocurrency exchanges in South Korea have reached agreements with Korean banks to maintain the issuance of real-name accounts, media reports revealed. The deals, although not yet permanent, will allow the trading platforms to register with financial authorities before the Sept. 24 compliance deadline. Bithumb, Coinone and Korbit Maintain Partnerships With Korean Banks Banks have…
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Bithumb to Ban Foreign Traders Failing Mobile Phone Identification

September 4, 2021

South Korean crypto exchange Bithumb said it will deny access to foreigners unable to verify their identities via mobile phone. The decision comes as the trading platform moves to comply with the country’s updated regulations coming into force later this month. Korean Exchange Bithumb Prepares to Register Under New Rules Foreign nationals who do not…
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