South Korea Financial News

03.12 / 00:57

Law regulation crimes Terra South Korean judge dismisses arrest warrants for Terra co-founder Do Kwon's former associates

A judge with the Seoul Southern District Court has reportedly set aside arrest warrants for Terra co-founder Shin Hyun-seong along with those of 3 Terra investors and 4 developers.

02.12 / 17:05

COST European Frustration Over U.S. Subsidies Mounts Ahead of Key Meeting

BRUSSELS—Simmering frustration over the “Buy American” provisions attached to a sweeping package of climate-related subsidies threatens to spoil the mood at a high-level U.S.-European Union meeting Monday.

02.12 / 13:39

Man CEO Legal Jail South Korean Crypto Exchange CEO to Serve 25 Years in Jail After Appeal Fails

The CEO of a South Korean crypto exchange who was found guilty of murdering his lover by stabbing her and pushing her out of a 19th-storey apartment window has had his appeal rejected – and will serve 25 years in prison.

02.12 / 11:43

Blockchain Adoption Hong Kong working on investor protection regulations, says central bank exec

Central bank governors from around the globe are currently in Thailand to discuss the role of central banks amid evolving financial technology. The conference is jointly hosted by the Bank of Thailand (BOT) and the Bank for International Settlements (BIS).

01.12 / 13:41

Software Police Bitcoin South Korean Police, Prosecutors Quadruple Spending on Crypto Monitoring Tools

South Korean police and prosecutors have quadrupled the amount of money they are spending on crypto monitoring tools in the past 12 months.

30.11 / 13:59

Southern Terra Luna Prosecutors Seek Arrest Warrant for Daniel Shin & Seven Other Terraform Players

South Korean prosecutors have asked a court to issue an arrest warrant for the Terraform Labs Co-founder Daniel Shin (Korean name Shin Hyun-seong) – as well as a group of “early” Terra ecosystem “investors.”

30.11 / 11:15

regulation Altcoin Terraform Labs Terra South Korea issues arrest warrant for Do Kwon's former colleagues

Amid the ongoing manhunt for Terraform Labs co-founder and CEO Do Kwon, South Korean authorities have spread out their investigations to target other Terra executives. Prosecutors issued an arrest warrant for co-founder Daniel Shin and seven other engineers and investors of the firm following suspicion of gaining illegal profits before the massive collapse of the Terra ecosystem.

29.11 / 17:23

Blockchain South Korean University to Roll out Blockchain-powered ID Cards

A South Korean university says that it has become the latest institution in the country to introduce blockchain-powered mobile phone-based student IDs.

28.11 / 17:31

Southern Terraform Labs Terra Financial S Korean Financial Regulator Says it Warned Terraform Co-founders of Danger Back in 2018

South Korean financial regulators say they warned the Terraform Labs co-founders Do Kwon and Daniel Shin against launching their business back in 2018 – but were ignored.

28.11 / 13:15

business Bitcoin Line shuts down crypto exchange to focus on blockchain and LN token

The Japanese messaging giant Line has decided to shut down its cryptocurrency exchange business amid the ongoing crypto winter.

25.11 / 17:11

Man Police Bitcoin Jail South Korean Man Who Bought Drugs with Bitcoin Given Jail Sentence

A South Korean man was handed a host of punishments after a court found him guilty of buying narcotics online – using bitcoin (BTC).

25.11 / 05:39

business Blockchain Microsoft WEMIX token plunges 70% after it's delisted by Korean exchanges

South Korea’s largest crypto exchanges have announced they will delist WEMIX (WEMIX) — the native token of gaming company Wemade’s blockchain platform Wemix — alleging the firm provided “false information” in response to an investment warning it was issued.

24.11 / 20:15

UPS Metaverse Deloitte Report: Metaverse Could Be $13 Trillion Industry by 2030 – Here’s What You Need to Know

The metaverse has the potential to generate an additional $800 billion to $1.4 trillion to Asia’s gross domestic product (GDP) per year by 2035, growing into a market worth up to $13 trillion annually by 2030, according to a recent report by international consultancy Deloitte.

23.11 / 12:07

business Adoption partnership FTX collapse triggers second thoughts on Busan City's crypto exchange plans

The FTX crash appears to have affected not only companies and investors but also entire cities that previously became partners of the troubled cryptocurrency exchange.

22.11 / 13:43

Digital Fallout S Korean Regulators Draft New Crypto Laws – to Prevent More FTX and Terra ‘Incidents’

Financial regulators in South Korea want to impose a raft of new crypto-related laws – in a direct response to the collapse of the FTX crypto exchange and the implosion of Terra ecosystem coins in May.

21.11 / 23:19

CBDC regulation Fried Sam The nightmare continues for Sam Bankman-Fried and FTX — Law Decoded, Nov. 14-21

As much as we all would want last week to be about something else, it was still all about FTX. The Supreme Court of the Bahamas has approved two provisional liquidators from PricewaterhouseCoopers to oversee the assets of the crypto exchange, which is headquartered in the country. Several days later, The Securities Commission of the Bahamas ordered the transfer of FTX Digital Markets’ digital assets to a digital wallet owned by the commission to protect “the interests of clients and creditors.”

21.11 / 17:29

Terraform Labs These Countries Were Hit The Hardest By the FTX Collapse – Find Out Why

South Korea, Singapore, and Japan are the three countries most impacted by crypto exchange FTX's infamous implosion, with a combined 15.7% traffic share to FTX.com, said a report by Coingecko.

21.11 / 16:27

Blockchain CEO Southern South Korea seizes $104M from Terra's co-founder on unjust earnings.

South Korean authorities are continuing their efforts to bring closure to the victims of the year's first crypto crash, which involved Terraform Labs. While the crypto exchange FTX has taken the spotlight away from other collapsed ecosystems, South Korean authorities are still working to help Terraform Labs' victims.

21.11 / 13:43

Dogecoin Citi Doge ‘High-ranking’ S Korean Civil Servant Caught Trading DOGE During Key Meeting

A “high-ranking” South Korean civil servant has been caught buying Dogecoin (DOGE) on his cell phone – in the middle of an important local government meeting.

20.11 / 14:51

business regulation South Korea investigates crypto exchanges for listing native tokens

Native cryptocurrencies turned out to be the biggest factor contributing to the demise of numerous exchanges and ecosystems this year, most recently during the FTX collapse. Korea's financial authority, Korea Financial Intelligence Unit (KoFIU), took notice of the same as it launched a probe into crypto exchanges in relation to listing their in-house, self-issued tokens.

19.11 / 15:15

TerraUSD Terra Luna Terra Luna Classic South Korean Authorities Seize $100 Million From Terra Luna Co-Founder

South Korean officials have confiscated over $100 million worth of funds belonging to Terraform Labs co-founder Shin Hyun-Seong (Daniel Shin).

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