Contributor
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.
Regulatory News
Hyperithm, a crypto investment trust company in South Korea, acquired an Information Security Management System (ISMS) certification — a requirement Korean authorities say every virtual asset operating business must secure. Fast facts Hyperithm is the first virtual asset brokerage in South Korea to be certified for information security by a public institution. Hyperithm’s announcement shows […]
Danny Park
Regulation
Only 21 out of 60 exchanges are expected to continue their services in Korea.
Danny Park
Regulatory News
Crypto trading platforms rush to meet a Sept. 24 deadline, hoping to comply with new rules designed to protect investors.
Danny Park
DeFi Platforms
Donkey, launched Sept. 1, aims to become a DeFi service that brings more South Korean investors into decentralized finance by making their favorite cryptos more scalable and available. Fast facts Donkey is a virtual asset deposit and lending protocol that runs on the Ethereum blockchain where anyone can deposit crypto as collateral and borrow other […]
Danny Park
NFTs and Gaming
The multiplayer online role-playing game is widely popular elsewhere, while Korea bans play-to-earn crypto and NFT trading.
Danny Park
Compliance Challenges
Three of South Korea’s four major exchanges have launched a joint venture to develop solutions for complying with the Financial Action Task Force’s (FATF) crypto travel rule. The travel rule sets a global standard for virtual asset service providers to combat money laundering and terrorist financing and requires exchanges to collect information on senders and […]
Danny Park
Regulation
New data shows increasing deposits made by teens in virtual currency despite new rules that may close down many platforms in less than a month.
Danny Park
Regulation
A looming deadline for crypto exchanges in South Korea to either meet new compliance requirements or face closure will not be extended, the country’s newly nominated chief financial regulator says. The rules are designed to improve investor protection and transparency in crypto transactions, but many exchanges have been calling for a longer grace period. Fast […]
Danny Park
Regulation
24 out of 63 digital currency exchanges in South Korea are not expected to meet new compliance requirements and will most likely be shut down in less than a month.
Danny Park
Compliance Challenges
Sandbank, a South Korean bank for virtual assets, says it is in the process of acquiring the necessary certification needed to legally operate in the country. However, the financial authorities have yet to decide whether their requirements apply to crypto banks. Fast facts In an announcement, Sandbank told its customers it has put acquiring the […]
Danny Park
