Cryptonews Tags South Korea

# South Korea (Page 17)

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 Korean Regulator to Rule on Corporate Crypto Investment Next Month

A South Korean financial regulator will make “a final decision” on whether or not to approve corporate crypto investment next month. Several leading domestic firms are ready to use their balance sheets to buy Bitcoin (BTC), Ethereum (ETH), and major altcoins. However, Seoul has repeatedly...

81 Arrests After Bitcoin Mining Scammers Accidentally Target Detective

A group of South Korean Bitcoin mining scammers appears to have scored a spectacular own goal, mistakenly targeting a police detective with a “high-yield investment crypto scam.” Per the newspaper Hankyoreh, the suspected scammers’ gaffe began in April this year when a member of their illegal...

South Korea Authorizes CBDC Pilot Test with Seven Banks

South Korea’s CBDC pilot takes off with seven banks, seeking to make public services more accessible through digital tokens.

How Crypto Is Reshaping the South Korean Job Market

Crypto is radically altering the South Korean job market, domestic media outlets have claimed, with younger people prioritizing Bitcoin trading over traditional ways of making money. According to the Electronic Times, data from multiple recruitment sites shows a marked increase in job hunters...

Major South Korean Banks, Retailers Join CBDC ‘Real-world’ Pilots

Several leading South Korean banks and retail giants have joined the central bank’s fast-expanding CBDC pilot. According to Chosun Ilbo, the Bank of Korea (BOK) and the regulatory Financial Services Commission say that seven banks will join the pilot. South Korean Banks: CBDC-keen? The...

South Korean Crypto Regulator to Begin Bitcoin Spot ETF Debate This Week

The new South Korean crypto regulator will begin discussions on possible Bitcoin Spot ETF approval this week. Per News1, the Virtual Assets Committee will convene for the first time on November 6, with crypto ETFs high on the agenda. South Korean Crypto Community Left Out in the Cold? The...

South Korea’s Crypto Investor Base Surges to 7.78M in First Half of 2024, Marking a 21% Growth

South Korea’s cryptocurrency investor population has surged to new heights, reaching 7.78 million in the first half of 2024.

, by Ruholamin Haqshanas

South Korean Crypto-related Stocks Soar as Bitcoin Prices Climb Toward ATH

South Korean crypto-related stocks are rising fast as Bitcoin (BTC) prices climb toward a new all-time high. No crypto exchange has yet floated on the Korea Exchange. However, several listed firms own minority stakes in domestic crypto operators. These include Woori Technology and Hanwha...

Crypto Exchange GOPAX Set for Mid-November ‘Date With Destiny’ – Will It Survive?

The South Korean crypto exchange GOPAX is in a race against time to avoid a potentially existential “date with destiny” in mid-November. Per News1, GOPAX, one of South Korea’s five fiat-trading crypto exchanges, has been ordered to reorganize its management structure by the middle of...

South Korean ‘Coin Gate’ Lawmaker Trial Begins – MP Denies Wrongdoing

The trial of Kim Nam-guk, the former South Korean Democratic Party lawmaker at the center of the crypto-themed “Coin Gate” scandal, has begun in Seoul. Per Herald Kyungjae, the trial’s first hearing was held at a branch of the Seoul Southern District Court in Yangcheon, Seoul, on October...

South Korea Mandates Reporting on International Stablecoin Transactions

South Korea’s government will set up a virtual asset transaction monitoring system to ensure sound transactions starting in the second half of 2025. During his business trip to the G20 Finance Ministers' Meeting, Deputy Prime Minister and Finance Minister Choi Sang-mok highlighted rising...

, by Shalini Nagarajan

Bithumb ‘Owners’ Face Fresh Scrutiny from South Korean Lawmakers, Regulators

The South Korean crypto exchange Bithumb is facing another barrage of questions from regulators and parliamentarians over its ownership structure. The exchange has claimed that it is doing its utmost to boost transparency in the matter, as it continues to target an initial public offering...

Upbit Partner K Bank Fails in IPO Bid – Was Crypto Exchange Deal to Blame?

South Korean crypto exchange Upbit’s partner K Bank has failed in its IPO bid. And media outlets are speculating that the parties’ deal may have been to blame. According to Maeil Kyungjae, K Bank withdrew its initial public offering (IPO) application just days before it was due to float on the...

South Korea’s Crypto Exchange Closures Leave $12.8M in Limbo for Customers

South Korea’s Virtual Asset User Protection Act has prompted several virtual asset exchanges to shut down this year. This leaves customers with up to $12.8m in stranded investments, now available for reclamation. Eleven virtual asset exchanges in Korea have stopped operations, while three...

, by Shalini Nagarajan

Seoul Training ASEAN Nations to Fight North Korean Crypto Hackers

The South Korean Foreign Ministry says it is training its ASEAN counterparts to fight back against North Korean crypto “theft.” Per an official South Korean government report, the ministry wants to “transfer its capabilities” to experts from seven countries” in the Association of Southeast...

NH Bank Staffer Who ‘Stole Money to Buy Crypto’ Says: ‘I Lost Everything’

A former loans manager at South Korea’s NH Bank (NongHyup) who has been accused of stealing company funds to buy crypto says they “lost everything.” Per the broadcaster JTBC, NH thinks that a manager surnamed Kim embezzled a total of $12.5 million worth of loans. NH Bank Staffer ‘Stole Loan...

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