South Korea

Terraform Labs Pte. Ltd., the firm behind the collapse of the Terra-LUNA stablecoin project said South Korean prosecutors’ measures in pursuing its chief executive officer Do Kwon violate his basic rights under Korean law.

The man behind Terra-LUNA contradicts the basis of the new action South Korean authorities took to corner and locate him.

Changwon is the latest addition to South Korea’s growing list of cities seeking a presence in the metaverse, signaling the country’s adoption of Web3.

South Korea is pursuing different options to get custody of Do Kwon as the Terraform Labs CEO faces charges for his alleged involvement in the multibillion collapse of the Terra-LUNA stablecoin project.

The coastal city was a prominent manufacturer of footwear, fabric and other light industries during the 1970s and 80s, and then grew into one of the world’s biggest container ports. Now it’s trying to reinvent itself in the digital world of blockchain.

South Korea’s top financial watchdog Monday said it is difficult for the country to establish laws overseeing the cryptocurrency industry in the country ahead of a common global regulatory framework as cross-border enforcement would be a key determinant of effectiveness.

Welcome to The Daily Forkast – September 16, 2022 – presented by Joel Flynn. Coming up on today’s show: Could Busan be the next crypto hub? Will help from Binance and FTX finally establish South Korea’s second largest city as the crypto haven it’s trying to be? We’ll have more on those stories — and […]

A member of the prosecuting team tells Forkast additional charges are likely to be leveled against Terraform Labs Chief Executive Officer Do Kwon following this week’s issuance of an arrest warrant for violating the country’s Capital Markets Act.

Prosecutors investigating the man behind the US$37 billion wipeout of the Terra-LUNA cryptocurrency project are raising the stakes to get him back to South Korea.

Identifying characteristics of securities in Terra’s tokens could help South Korea with new charges on Terraform Labs and CEO Do Kwon.

The country’s growing ties to crypto could expose its financial sector to volatility and ‘damage its credibility,’ a researcher says.

South Korea last week said crypto token airdrops are subject to a gift tax of as much as 50% under existing laws, but what is the likelihood this rule can be applied to digital holdings?

CME prepares to launch ETH options as the merge gets closer, Meanwhile, a Chainalysis says crypto scams are down.

Follow the money? Korea Blockchain Week concludes this weekend in Seoul and one of the overarching themes is enthusiasm for blockchain-based gaming as the key to opening up a Web3 world to a broader audience.

Today’s special episode of The Daily Forkast, we take a deeper on location in Seoul, at the sold-out Korea Blockchain Week.

After high-profile cyberattacks on decentralized apps, the blockchain industry is in a hurry to ramp up security. Sam Sangmin Seo, head of Klaytn, tells Forkast that minimizing human error may be the key.

Welcome to The Daily Forkast – August 9, 2022 – presented by Angie Lau. Coming up on today’s show: US lawmakers aim to push Fed on digital dollar. Circle freezes smart contract addresses linked to blacklisted Tornado Cash. Also, Hodlnaut freezes withdrawals, swaps and deposits. Zipmex to release specific amounts of Bitcoin and Ether. And […]

Lawmakers are pulling together regulations for trading in digital assets. If all goes to plan, the so-called Digital Asset Basic Act will be in shape by the first half of 2023.

The ETH2 merge could once again be delayed. Meanwhile, Vitalik Buterin calls Michael Saylor “a total clown”.

The crypto market shrugs off IMF’s predicted recession risk. Also, U.S lawmakers racing to introduce the stablecoin bill.

Aiming to uncover the next “BTS in finance,” Chairman Kim Joo-hyun of the Korean Financial Services Commission (FSC) is calling for “bold reforms” in financial regulations, including in crypto assets.

Bitcoin drops after Tesla sells 75% of its bitcoin holdings. Meanwhile, South Korean authorities raid 15 companies as part of their Terra Luna investigations.

Crypto trading volumes plummet as the crypto winter continues. Meanwhile, India calls on G20 to share information on crypto.

The country’s major game developers continue to focus on overseas markets as there are no signs of a thaw in the government’s stance on games that include elements of blockchain and play-to-earn.