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
Lens
South Korea
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Regulatory News
A crypto trust company certified for the first time in South Korea
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
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Regulation
South Korea expected to allow more crypto exchanges to survive do-or-die regulations
Only 21 out of 60 exchanges are expected to continue their services in Korea.
Danny Park
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Regulatory News
Exchanges in South Korea race toward last chance of survival
Crypto trading platforms rush to meet a Sept. 24 deadline, hoping to comply with new rules designed to protect investors.
Danny Park
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DeFi Platforms
New Korean DeFi service launches to increase scalability of ‘Kimchi coins’
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
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NFTs and Gaming
Blockchain game MIR4 gains global popularity despite ban at home in South Korea
The multiplayer online role-playing game is widely popular elsewhere, while Korea bans play-to-earn crypto and NFT trading.
Danny Park
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Advanced Blockchain Technologies
China’s state-backed blockchain network to expand to South Korea
As its first international expansion, China’s Blockchain-based Service Network is launching a portal in Korea. Who are the key players, and where else in the world will BSN emerge this year?
Timmy Shen
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Compliance Challenges
South Korea’s crypto exchanges join forces for FATF travel rule compliance
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
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Regulation
More teens in South Korea buy crypto despite strict pending regulations
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
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Regulation
South Korea unveils “death note” for crypto exchanges
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
