Regulation
Damage to South Korean crypto market limited despite mass closure, regulator says
South Korea’s virtual asset industry is expected to withstand major regulatory reconstruction
Danny Park
Lens
South Korea
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Regulation
Fewer South Korean crypto exchanges remain in business under new industry regulations
Around 35 virtual asset exchanges will vanish as of midnight Friday, as the country imposes new rules designed to protect consumers.
Danny Park
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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
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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
