Earlier this year, top financial heads of the G20 country had a discussion for cryptocurrencies and their role in the global economy.
At that time, the leaders pledged for having “unified regulations” towards the functioning of digital currencies.
South Korea, a member nation of the G20 is now planning to relax some laws and rules to cooperate with the G20 directives.
The FSC has recently unveiled new anti-money-laundering and know-your-customer rules for crypto exchanges which will come into next week onwards from July 10.
We believe an increase in adoption will come when crypto-assets can be used as actual currencies rather than just speculative investments.”
The SEC said that it has made revisions to its rules to apply strengthened policies in order to prevent or detect money laundering and illegal activities because they aren't opposed to cryptocurrencies.
With Washington tightening the screws on North Korea’s crypto-funded nuclear weapons programme, South Korea says it’s open to rethinking its own sanctions playbook. During a recent interview, South Korean Vice Foreign Minister Kim Ji-na told local media that “coordination between…
Binance is facing renewed scrutiny from South Korean lawmakers after a parliamentary hearing this week reignited calls for the exchange to compensate victims of GOPAX’s failed GoFi deposit program. South Korean lawmakers are intensifying pressure on Binance to fulfill a…
Binance holds a 67% stake in Gopax, acquired in February 2023. A $4. 3 billion US settlement eased regulatory concerns in South Korea. Gopax faced a $47 million liquidity shortfall linked to Genesis Global Capital.
Binance is finally making progress with its South Korea re-entry after over two years of delay, as authorities have reopened their review of the exchange’s long-stalled takeover of local crypto exchange Gopax.
Hwang Jung-eum, a South Korean actress and K-drama star, was handed a suspended prison sentence for embezzling $3 million from her agency to invest in cryptocurrency. According to a report from local media outlet Korea JoongAng Daily, Hwang has been…
South Korean regulators have moved to quell a brewing risk in crypto exchanges. The new regime bans high-risk leveraged loans and institutes a strict 20% interest cap, citing serious concerns over investor protection and market stability. On September 5, South…