#South Korea cryptocurrency News

South Korean Crypto Exchanges Earned $648 Million in 2017 that is Taxable

South Korean Regulators Working With Banks in a Bid to Regulate Cryptocurrencies

May 6, 2021 by Anna Larsen at Regulation

Regulators in South Korea are now taking an interest in the cryptocurrency industry with plans to introduce regulations for the emerging asset class. The nation’s financial authorities are now seeking the help of banks to aid in these efforts, and have asked them to declare their cryptocurrency businesses to ascertain...

South Korean Cryptocurrency going to war swords blockchain

South Korean Blockchain Industry in Danger of Decline

September 2, 2019 by Osato Avan-Nomayo at Regulation

The blockchain industry in South Korea is reportedly facing a difficult period reports local media platform The Block Post. While the struggles of cryptocurrency exchanges in the country isn’t exactly news, it appears that other crypto-businesses are also experiencing similar problems sparking fears of a slowdown in South Korea’s digital...

South Korea Office window cryptocurrency department FSC

Bitcoin Exchanges in South Korea to come Under Direct FSC Regulatory Purview

August 8, 2019 by Osato Avan-Nomayo at Regulation

Reports from media sources in South Korea say the country’s top financial regulator plans to directly oversee the regulation of local Bitcoin exchanges, August 7, 2019. This move likely includes the creation of registration and licensing requirements for South Korean crypto bourses. Platforms in the country have in recent times...

Kimchi Premium Returns: Bullish Bitcoin Breakout Imminent?

April 10, 2019 by Osato Avan-Nomayo at Bitcoin, Commentary, Exchange, News

It appears the “Kimchi Premium” is making an appearance once again in the South Korean bitcoin (BTC) market as the top-ranked cryptocurrency looks set for a bullish 2019. South Korean Market Premium Returns In a tweet published on April 9, 2019, CryptoHamster, a bitcoin analyst evidenced the appearance of elevated...

South Korea: Lawmakers Clamor for Less Stringent Cryptocurrency and Blockchain Policies

April 8, 2019 by Osato Avan-Nomayo at Adoption, Altcoins, Bitcoin, Regulation

A group of South Korean lawmakers have expressed concern over the strict regulatory policies of the Financial Service Commission (FSC) on the cryptocurrency and blockchain sector and subsequently called for deregulation. Despite repeated calls for less stringent regulations, the government is yet to do much in that regard. This according...

South Korea: Central Bank Report States CBDCs Could Reduce the Role of Commercial Banks

March 27, 2019 by Aisshwarya Tiwari at News

On March 26, 2019, South Korea’s central bank published 2018 Annual Payment Settlement Report. In the report, the country’s apex bank has given a summary of research it conducted on central bank digital currencies (CBDCs). Promising Future for Crypto Assets South Korea is one of the global hotbeds when it...