In a recent legal twist, the High Court in Podgorica has ruled in favor of extraditing Terraform Labs co-founder Do Kwon to South Korea. This decision comes after the Montenegro Appeals Court overturned a previous ruling that favored his extradition to the United States, marking a pivotal moment in the ongoing legal battle surrounding the…
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No Bitcoin ETF will gain approval in South Korea unless the government introduces new crypto rules, the head of the Financial Supervisory Service (FSS) said on March 5. The FSS chief Lee Bok-hyun this week struck an optimistic note about possible Bitcoin spot exchange-traded fund approval. But per the media outlet Nocut News, Lee also…
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In a pivotal legal reversal, Montenegro’s Court of Appeals has annulled the extradition of Terraform Labs co-founder Do Kwon to the United States, siding with his defense’s appeal and invalidating a prior High Court ruling from Feb. 20. Montenegro’s Appeal Court Blocks Do Kwon’s U.S. Extradition, Cites Legal Flaws This latest court decision underscores the…
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A South Korean committee responsible for personal information matters is probing Worldcoin for collecting and processing sensitive information. A government notice issued Monday stated that the Personal Information Protection Committee initiated an investigation into the digital identity project on Feb. 29. This action followed complaints about the collection and processing of personal information, including iris…
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AfreecaTV BJ (broadcast jockeys) stars have become the latest targets of increasingly sophisticated South Korean crypto scammers. Asia Kyungjae reported that the Seoul Central District Court sentenced a “man in his thirties” to five years in prison for crypto-related fraud. AfreecaTV BJ Stung to Tune of $1.6m AfreecaTV is South Korea’s leading real-time streaming platform,…
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South Korea has delayed its efforts to relax its crypto regulations and the prohibition on spot bitcoin exchange-traded funds (ETFs). This development follows closely behind the People Power Party’s contemplation of removing certain regulations and the ETF ban before the commencement of South Korea’s general election. South Korea Holds Back on Crypto Regulation and Reported…
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South Korean police continue to wage “war” on crypto-powered drug trafficking, with officers in the capital Seoul making 452 arrests from June 2022 to December 2023. Per the media outlet Money Today, police arrested three suspected drug dealers. Officers also charged 445 buyers and four illegal “cryptoasset trading platform operators.” South Korean Police in Uphill…
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On Wednesday, bitcoin’s value ascended past the $60K threshold, peaking at a 24-hour high of $61,389 by 10:45 a.m. (ET). Concurrently, South Korea observed a pronounced premium over the international exchange rate, with local platforms such as Upbit and Bithumb displaying prices that are $2,251 higher. In a Worldwide Bitcoin Frenzy, South Korea and 30+…
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South Korean crypto scammers are targeting chat app users on trading- and investment-themed channels, police warned on February 21. Per News1 and Daejon Ilbo, the Sejong South Police Station announced it was investigating multiple cases. The agency said that it had “received about 20 reports” from people in the city. Citizens said they had been…
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The People Power Party, a major political party in South Korea, has proposed to defer cryptocurrency taxation for up to two years as part of a general election pledge. The Korean government has already postponed establishing cryptocurrency taxation until 2025 when income generated from cryptocurrencies will be taxed at 22%. South Korea to Delay Cryptocurrency…
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