South Korea News

Situated in East Asia, South Korea, formally recognized as the Republic of Korea, is distinguished for its rich history, culture, and technological prowess. With its capital, Seoul, nestled in the north, this nation of 51 million people thrives economically, supported by its advancements in various sectors.

South Korea emerges as a prominent player in the realm of Korean cryptocurrency, marrying innovation with stringent regulations. Stay updated on South Korean crypto regulations, dive deep into recent Korean crypto happenings such as CBDC research and the evolving landscape of crypto exchanges in the region. From legislative moves to market trends, here’s your one-stop for all South Korean crypto insights.

Latest South Korea News

Do Kwon’s South Korean extradition annulled by Montenegro Supreme Court

Another twist in the extradition saga of Terraform Labs founder Do Kwon revealed that the forgery convict will not return to his native South Korea just yet.

2 weeks ago

Crypto.com to launch services for retail traders in South Korean market

Singapore-based crypto exchange Crypto.com is set to launch services in South Korea, two years after acquiring local crypto exchange OK-BIT. Crypto.com announced in a blog post on Apr. 2 that it’s planning to launch the Crypto.com App in South Korea…

2 weeks ago

Bithumb’s annual revenue down by nearly 60% in 2023, report says

Bithumb disclosed an operating loss of 14.9 billion won ($11 million) in 2023, citing a 58% revenue drop and Q4’s fee-free policy as contibuting factors. South Korea’s cryptocurrency exchange Bithumb has revealed an operating loss of 14.9 billion won (~$11…

2 weeks ago

South Korean police nab fraudsters in $4.1m crypto scam

South Korean police apprehended a pair of fraudsters who stole 5.5 billion won ($4.1 million) from a senior man under the guise of profitable crypto investments. The Haeundae Police Station in Busan, South Korea, caught two people in their 20s…

March 26, 2024 at 12:19 pm

Do Kwon officially released from Montenegro prison amid extradition drama, Terra surges 20%

Do Kwon, the South Korean crypto fugitive, was reportedly set free from prison in Montenegro over the weekend.

March 23, 2024 at 4:41 pm

Do Kwon to be released from Montenegro prison as court pauses extradition

Per the High Court decision, Do Kwon will be released from prison in Spuž on Saturday but will not be allowed to leave Montenegro.

March 22, 2024 at 8:32 pm

Montenegro denies Do Kwon’s South Korea extradition appeal

South Korean authorities inched closer to accosting Do Kwon over Terra’s $60 billion collapse following a March 20 court ruling in Montenegro.

March 20, 2024 at 4:49 pm

Korean altcoin issuer detained over $16.1m fraud allegations

A South Korean altcoin issuer was arrested by the Seoul Southern District Prosecutors’ Office’s Virtual Asset Crime Joint Investigation Team on March 19, facing fraud charges. The unnamed individual is accused of defrauding investors of $16.1 million, an arrest that…

March 20, 2024 at 9:33 am

Korean tax service mulling new platform to monitor all crypto transactions

Korea’s National Tax Service wants to develop a new management system to monitor crypto transactions and combat illegal activities, targeting completion by 2025. South Korea‘s National Tax Service has initiated preliminary consultations with a consulting firm to develop a new…

March 11, 2024 at 9:27 am

US DOJ appeals Montenegro court’s extradition verdict favoring Do Kwon’s return to South Korea

U.S. prosecutors have declared their intention to appeal a recent decision by a Montenegrin high court regarding the extradition of Do Kwon, the former CEO of Terraform Labs, to South Korea. The development is part of an ongoing legal saga…

March 8, 2024 at 8:12 am

South Korea wins Do Kwon extradition rights in Terra saga

Do Kwon is set to return to his native South Korea for criminal prosecution two years after the collapse of Terra’s tokens, which shook the crypto industry.

March 7, 2024 at 4:23 pm

Worldcoin faces probe in South Korea over privacy concerns

South Korea has initiated an investigation into Worldcoin over privacy concerns, following complaints about the collection of facial and iris recognition data. In a press release on Mar. 4, South Korea’s Personal Information Protection Commission says it will investigate Worldcoin…

March 4, 2024 at 10:42 am

Crypto reform takes a back seat in South Korea amid regulatory uncertainty, no BTC ETF plans in sight

South Korea’s People Power Party has decided to delay its intentions to relax cryptocurrency regulations indefinitely. This shift includes halting the initiative to lift the prohibition on domestic spot Bitcoin exchange-traded funds (ETFs), a move initially anticipated by market watchers.…

February 29, 2024 at 11:16 am

South Korea to discuss NFT classification, Bitcoin ETFs with Gary Gensler

Head of South Korea's Financial Supervisory Service, Governor Lee Bok-hyun, is scheduled to discuss key regulatory issues with U.S. SEC Chairman Gary Gensler in May.

February 26, 2024 at 4:01 pm

Korean investors increase Bitcoin purchase by 400%: Can BTC stay above $50k?

Bitcoin on-chain analysis explores what the latest 400% spike in Korean investors' buying trends could mean for BTC price prospects.

February 23, 2024 at 6:40 pm

South Korea’s Gyeonggi province cracks down on crypto tax evasion, recovers $4.6m

A South Korean province has adopted an advanced system to combat crypto tax evasion, successfully recovering $4.6 million in unpaid taxes from delinquents. As per Feb. 22 local reports, the Gyeonggi province’s method represents a considerable shift from the traditional,…

February 22, 2024 at 7:55 am