South Korea Financial News

22.07 / 12:23

Legal Terraform Labs Terra Returns raid Prosecutors Raid Home of Terra Co-Founder Daniel Shin as Do Kwon Returns to Twitter

The South Korean prosecution service’s recent raid of 15 locations as part of the probe into the “Terra (LUNAC) incident” saw officers search the home of the Terraform Labs co-founder Daniel Shin.

21.07 / 22:35

UPS Digital Luna South Korea: The LUNA investigation is leading the FSC to check…

Financial watchdogs in South Korea are checking commercial banks’ foreign exchange transactions for the illegitimate use of cryptocurrencies.

21.07 / 20:23

business Investments Terra Korean crypto startup Uprise to compensate investors after disastrous LUNC short trade

South Korean crypto investment company Uprise plans to compensate investors for damages incurred during its futures bet on Luna Classic (LUNC) — a token that was built on the ruins of the failed Terra ecosystem.

21.07 / 15:09

regulation Taxes South Korea postpones 20% tax on crypto gains to 2025

The South Korean government has reportedly postponed the 20% tax crypto gains by two years. The controversial 20% tax on crypto gains was supposed to come into effect from January 1, 2023, but now has been deferred to 2025.

21.07 / 06:53

cryptocurrency Stablecoin Luna raid South Korea prosecutors raid crypto exchanges, offices for Luna investigation

South Korean prosecutors carried out search and seizure operations at local crypto-currency exchanges and related offices, looking for evidence of illegal practice involved in the collapse of crypto-currency Luna in May.

21.07 / 03:53

regulation Terra New South Korean Crypto Regulator ‘Days Away from Launch’, Government Confirms

The South Korean government is set to come good on a promise to launch a new regulatory agency that will govern the domestic crypto sector in the wake of what it calls the “Terra (LUNAC) incident.”

20.07 / 19:17

Law regulation Terra raid South Korean authorities raid 15 entities linked to Terra collapse: Report

Prosecutors in South Korea behind the investigation of Terraform Labs have reportedly executed a search and seizure in 15 firms, including seven crypto exchanges.

20.07 / 18:31

Exchange Legal Upbit raid S Korean Prosecutors Raid 15 Addresses, Including Major Crypto Exchanges, as Part of Terra Probe

South Korean prosecutors have raided 15 locations in Seoul as part of their ongoing probe into the “Terra (LUNAC) incident” – and have seized documents and data from at least seven crypto exchanges, including the market-leading platforms Upbit and Bithumb.

19.07 / 17:19

European Union Heatwave What you need to know about the Ukraine war Tuesday

Russia's ambassador to Pyongyang has said that North Korean labour could be sent to repair Russian-controlled territories in Ukraine.

19.07 / 03:15

regulation Trading Bitcoin Premium South Korean Regulators Close the Net on Opportunistic Kimchi Premium Traders

A South Korean financial regulator is set to go on the warpath in search of kimchi premium traders – and is vowing to bring suspected offenders to justice.

18.07 / 23:37

cryptocurrency Forecast MARKET Bitcoin end Crypto Winter Will End Before 2022 Is Out - Korbit

South Korean researchers say that crypto winter will end before the financial year is over, but think that the US Federal Reserve’s attempts to bolster the United States economy could continue to influence crypto markets in the meantime.

17.07 / 07:25

cryptocurrency crypto news crypto firms These Crypto Firms Have Run Into Hardships And Trouble After Meltdown

List of crypto firms that have run into hardships

15.07 / 13:35

regulation Exchange Legal Terra Prosecution ‘Investigating Still-Extant South Korean Terraform Subsidiary’, Exchanges Make Self-regulation Proposal

South Korean prosecutors have reportedly uncovered evidence of an obscure Terraform Labs subsidiary that appears to exist only “on paper.”

14.07 / 09:13

business partnership ATM Bitcoin Hyosung America makes Bitcoin purchasing app available to 175,000 ATMs

Hyosung America has signed a partnership deal with cash-to-crypto provider DigitalMint that enables Bitcoin (BTC) purchasing across the firm’s 175,000 ATMs located in the U.S.

12.07 / 15:01

Blockchain NFT Metaverse Korean fintech giant plans to create 10K Web3 jobs amid bear market

Dunamu, a major fintech firm in South Korea that operates crypto exchange Upbit and several other blockchain and securities platforms, is planning to invest 500 billion won ($380 million) to create about 10,000 new Web3 jobs in the next five years.

12.07 / 13:33

regulation Terra Law Decoded, July 4–11: Access denied for crypto-owning policymakers

It’s been a century or so since the property qualification came out of vogue, but it doesn’t seem a problem if you want to apply it to crypto and policymaking. An advisory notice released by the United States Office of Government Ethics last week states that the de minimis exemption — which allows for the owners of securities who hold an amount below a certain threshold to work on policy related to that security — is universally inapplicable when it comes to cryptocurrencies and stablecoins.

12.07 / 03:43

CBDC Central Bank South Korea Ready to Test its CBDC with Commercial Banks, But Says Launch Is ‘a Long Way off’

South Korea’s central Bank of Korea (BOK) says it is now ready to commence “real-world” testing for its prototype digital won – but is refusing to say whether or not it actually intends to roll out the token.

11.07 / 18:49

business wallet Major South Korean telecom company plans launch of blockchain wallet for crypto and NFTs

South Korean telecommunications giant SK Telecom has signed a joint agreement with other blockchain firms aimed at developing a digital wallet which can support cryptocurrencies, nonfungible tokens, and digital credentials.

08.07 / 03:39

regulation Exchange Investment South Korean MP Wants to Launch a Fund to Help Struggling Crypto Investors

A South Korean politician wants the government to create a special fund to help crypto investors who have suffered losses in the markets – and says that crypto exchanges should foot the bill.

07.07 / 21:27

Ethereum Ripple Bitcoin Delio Delio unveils South Korea's first 'crypto bank'

The MMDA account enables the deposit and withdrawal of crypto assets at any time and offers daily compound earnings regardless of the performance when storing Bitcoin, Ethereum, and Ripple. Delio is also opening a branch offering things like an "economic salon" and "crypto academy" in Seoul’s Gangnam district, the centre of the Korea’s crypto industry.

07.07 / 14:45

Blockchain NFT Gaming Funding open Animoca, WeMade, Samsung Next back Web3 studio to develop open-source games

Community-driven gaming firm, Planetarium Labs, has raised $32 million in Series A funding, backed by Animoca Brands, Samsung Next and WeMade. The funds will be used to build a blockchain-based gaming ecosystem in which players can participate in the game network while also allowing members of the community a seat at the table.

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