Cryptonews Tags South Korea

# South Korea (Page 15)

Despite its relatively small size, South Korea is a global powerhouse when it comes to cryptocurrency industry. Often mentioned in the same breath as Singapore or Malta, Korean love for all things crypto has its roots in the country’s traditional inclination towards high technologies and openness to their use. Today, South Korea accounts for some 30% of total crypto trading on a global scale, with even the banking sector in that country making the news with its love for blockchain. South Korea is also well known for its highly developed cryptocurrency exchange scene including the likes of Bithumb, Upbit, Coinone and others.

South Korea Sanctions North Korean Individuals and Entity Over Crypto Heists

The South Korean government has imposed sanctions on 15 individuals and one entity from North Korea for engaging in illicit cyber activities.

, by Ruholamin Haqshanas

South Korea’s Crypto Investors Exceed 15M as November Trading Volume Nears Stock Market Levels

For the first time, official data has revealed a sharp increase in South Korea's cryptocurrency investors, crossing 15 million in November. This surge coincides with heightened market activity following U.S. President-elect Donald Trump's pro-crypto policy announcements. According to figures...

, by Jai Pratap

South Korea’s GOPAX Exchange ‘in Trouble’ As Takeover Bid ‘Stalls’

A takeover deal for the South Korean crypto exchange GOPAX has “practically fallen through,” casting doubt on its long-term survival. Chosun Ilbo reported that progress has stalled on a deal that would see Megazone, a cloud service provider, take control of GOPAX. The latter is one of South...

South Korean Crypto Exchange Upbit to Delist Bitcoin Gold

South Korean cryptocurrency exchange, Upbit, has announced it will end trading support for Bitcoin Gold (BTG) on January 23, 2025.

, by Tanzeel Akhtar

S Korean Regulator Denies Reports Claiming It Is About to Let Companies Buy Crypto

The South Korean Financial Services Commission (FSC) has denied reports claiming it is about to let companies buy crypto using their balance sheets. Per Hanguk Kyungjae, the FSC told media representatives the reports were “not true.” Will Regulator Let South Korean Companies Buy...

CryptoQuant CEO: South Korea’s Financial Woes Could Force Crypto Businesses Overseas

Ki Young Ju, the CEO and founder of CryptoQuant, has raised concerns about South Korea’s financial stability, warning that poor economic policies and political unrest could drive crypto businesses and capital out of the country. In a December 19 post on X, Ju criticized South Korea’s economic...

South Korea’s Deputy PM: ‘Government Not Negative on Crypto’

South Korea’s Deputy Prime Minister has claimed that the government is not negative on crypto-related matters. Choi Sang-mok, the nation’s Deputy Prime Minister and Minister of Strategy and Finance, admitted that “domestic and international uncertainties” remain in the wake of a successful vote...

South Korean Congressman Sentenced To Six Months in Prison for Concealing $7.5M in Crypto Holdings

In an eye-opening case that reflects South Korea's rigorous stance on crypto regulation, Kim Nam-guk, a former Democratic Party congressman, is facing legal repercussions for concealing substantial crypto holdings. According to a local source, Prosecutors have requested a six-month prison...

, by Hassan Shittu

Bank Employee Who Stole Millions to Buy Crypto Jailed for 15 Years in S Korea

A South Korean bank employee who stole some $12.4 million from his employer to spend on private crypto purchases has been jailed for 15 years. The media outlet Jose Ilbo reported that the unnamed former Woori Bank employee forged loan documents as part of a plan to siphon money out of the bank...

South Korea Stock Exchange Chief: It’s Time to Institutionalize Crypto

The head of South Korea’s stock exchange says the nation should “institutionalize crypto” and “act quickly” or risk losing ground on its international rivals. In an interview with the South Korean newspaper Maeil Kyungjae, Jeong Eun-bo, the head of the Korea Exchange, argued that the crypto...

South Korean Court Upholds Hancom ‘Altcoin Slush Fund’ Scion’s 3-Year Jail Term

The South Korean High Court has upheld the jail term of the son of the CEO of software giant Hancom after the latter was found guilty of creating a $6.7 million altcoin “slush fund.” Suwon District Court sentenced Kim Sang-cheol’s second son (first name withheld for legal reasons) to jail for...

Martial Law Chaos: South Korea Pauses ‘All’ Work on Crypto Legislation

Martial law chaos is continuing to wreak havoc on South Korea’s crypto sector, with the National Assembly vowing to halt all work on related legislation for the foreseeable future. Per Chosun Ilbo, the National Assembly voted in favor of a legal amendment that will delay the launch of crypto...

Expert Explains Why Martial Law Threw South Korea’s Crypto Markets into Chaos

A South Korean expert says panicked investors thought their crypto was under threat when President Yoon Seok-yul declared martial law last week. In an opinion piece for Hankyoreh, the author and crypto journalist Kim Oe-hyeon identified four key reasons why domestic traders responded to Yoon’s...

Regulators Plan to Allow S Korean Universities to ‘Trade’ Crypto, Companies to Follow

South Korean financial regulators are set to allow universities to “trade” crypto sometime in 2025, a report has claimed. Per Hanguk Kyungjae, the Financial Services Commission (FSC) is also ready to let local government bodies sell crypto. And it will allegedly follow up by eventually...

South Korea Hits Record $34 Billion Trade Volume as President Declares Martial Law

South Korea witnessed a record $34.2 billion in cryptocurrency trading volume over 24 hours following a declaration of martial law.

, by Ruholamin Haqshanas

South Korea’s Emergency Martial Law Hits Crypto Market

South Korea declared emergency martial law late Tuesday local time, with President Yoon Suk Yeol citing threats from "pro-North Korean anti-state forces" in a televised address. According to a Tuesday report from Reuters, Yoon described the move as essential to preserving the nation’s...

, by Hongji Feng

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