South Korea

Updates on exchange rules, enforcement, investor trends, and Korea’s active crypto trading culture.

South Korea wants Terraform labs co-founder arrested

Previous attempts to arrest the Terra co-founder Daniel Shin failed because a South Korean court refused to grant the arrest warrant.

3 years ago

Regulation

South Korea planning to review local staking services

The country decided on the review after acknowledging that certain staking services overseas have been suspended, according to local news.

3 years ago

Regulation

South Korea reportedly monitoring Ripple’s case against SEC

The classification of XRP in the US could broadly impact the classification of other altcoins as securities.

3 years ago

Scams

Korean authorities confirm search for Do Kwon

Korean authorities confirmed traveling to Serbia in search of Do Kwon last week, but did not comment further.

3 years ago

Regulation

South Korea issues guidance on security tokens, STOs

S. Korea will regulate certain digital assets as securities under the Capital Markets Act and allow STOs under the Electronic Securities Act.

3 years ago

Exchanges

Binance acquires S. Korea-based GOPAX exchange

The funding for the GOPAX acquisition was made from the $1 billion Industry Recover Initiative — a co-investment project led by Binance.

3 years ago

Exchanges

South Korean authority arrests Bithumb owner on $50M embezzlement charges

Investigations revealed that Kang Jong-hyun is the brother of Kang Ji-yeon who is the head of Inbiogen-an affiliate that holds about 34.2% stake in Bithumb.

3 years ago

Crime

S. Korea indicts 20 people for illegal $170M crypto profiteering

The accused individuals sent around $3.2B out of S. Korea under false pretenses, violating foreign exchange laws, to buy crypto abroad.

3 years ago

Exchanges

Binance annual revenue grew 10x over the past 2 years, while OKX’s grew 4x

In the meantime, Huobi global's quarterly revenue fell -98% since the second quarter of 2021.

3 years ago

Exchanges

Korean tax authorities investigate Bithumb, subsidiaries

The National Tax Service opened a "special tax investigation" into Bithumb, including the individual Kang Jong-hyeon, who is alleged to be the company owner.

3 years ago