Regulation
South Korea’s crypto crackdown: What you need to know
The country's crypto industry has been turned upside down with stricter operating rules that take effect tomorrow.
Danny Park
Contributor
Danny Park
Danny is a journalist at Forkast.News. Originally from South Korea, Danny has produced content for media companies in Korea, Hong Kong and China. He holds a Bachelor of Journalism and Business Marketing from the University of Hong Kong.
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Regulation
S. Korean crypto exchanges at crossroads on cash-to-crypto service suspension
With only a few days left until Korea’s regulatory deadline for virtual asset exchanges, all have accepted the government mandate in service suspension except for one exchange, Gopax. Fast facts Twenty-four virtual asset exchanges in South Korea are in limbo — they have only met one of two new requirements, and were subsequently asked by […]
Danny Park
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Regulation
Upbit becomes South Korea’s first newly registered crypto exchange
Upbit can operate as a virtual monopoly as it becomes the country’s first licensed business to handle cryptocurrencies.
Danny Park
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Regulation
Black Friday in South Korea as crypto exchanges announce shutdown
All but four platforms in South Korea obligated to announce the suspension of their services by today.
Danny Park
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Regulation
South Korea’s finance minister stands by 20% crypto income tax plan
South Korea’s finance minister Hong Nam-ki gave a firm “no” at the National Assembly to lawmakers asking for crypto taxation to be delayed until the industry is fully prepared. Fast facts Minister Hong insisted the plan to tax capital gains from cryptocurrency transactions should be executed as planned. The amended tax law stipulates that crypto […]
Danny Park
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Regulation
South Korean exchanges close cash-to-crypto trading services as new rules loom
Mid-sized crypto exchange Foblgate announced the closure of its Korean won (KRW) trading functions in advance of a government mandate banning digital asset platforms from operating cash-to-crypto services without a local bank partnership. Fast facts Foblgate announced it is temporarily suspending its KRW withdrawal, deposit and trading market between cryptocurrencies and the Korean won. Instead, […]
Danny Park
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Regulation
South Korea’s crypto ‘death note’ updated; 7 more exchanges to survive
Financial authorities reveal an updated list of virtual asset platforms that have complied with new regulations.
Danny Park
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Upcoming NFT Projects
‘Pororo the Little Penguin’ NFTs and metaverse theme park underway
The Sandbox, Animoca Brand’s subsidiary for decentralized virtual gaming, announces partnership with animation studio in Korea.
Danny Park
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Regulatory News
South Korean exchanges facing closure may seek legal action to halt new regulations
At the risk of losing billions, crypto industry officials weigh options to oppose authorities.
Danny Park
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Regulation
South Korean crypto exchanges in ‘purgatory’ plea for survival
Smaller virtual asset exchanges ask for mercy as a deadline looms to commit to Korea’s new standards.
Danny Park
