South Korea Financial News

29.12 / 08:31

NFT regulation Mobile Games Blockchain Game Korean government tells Apple and Google stores to take down P2E games

The South Korean government has moved to block the release of new play to earn (P2E) games and requested that existing ones be removed from Google Play and Apple’s App Store.

29.12 / 06:58

regulation Trading Exchange S Korea Now Has 24 Licenced Crypto Exchanges – But Most Are Stuck in Crypto-to-Crypto Purgatory

Medium-sized South Korean crypto exchanges are gunning for the “big four” trading platforms’ vice-like grip on the industry – but vital banking breakthroughs are still proving elusive.

24.12 / 04:07

Career Exchange M&A NOT ‘Big Four’ S Korean Crypto Exchanges Hired 600+ Employees in 2021 – And They’re Not Done Yet

South Korea’s biggest crypto exchanges appear to be on an expansion drive – and have hired 620 new staff members this year.

23.12 / 04:03

CBDC Adoption banking Banking Giant KB Creates Crypto, NFT & CBDC-compatible Wallets

The South Korean banking giant Kookmin Bank (KB) says it has developed new multi-coin wallets that are capable of storing non-fungible tokens (NFT) and various tokens including central bank-issued coins.

22.12 / 04:05

cryptocurrency Adoption Payments Crypto Pay on the Rise in South Korea as Commercial Giants Ink Partnership Deals

South Korean retail chains are embracing crypto- and blockchain-powered payment platforms – and so are their customers, according to new industry data.

17.12 / 04:53

Trading Exchange Upbit expansion Upbit Operator Posts Record Profits, Eyes US Expansion

The South Korean crypto exchange operator Dunamu is set to accrue a tax bill of a whopping KRW 1trn (USD 843m) following the most successful year yet for its Upbit trading platform.

16.12 / 16:39

business Blockchain Funding Upbit crypto exchange's blockchain sister firm raises $60M

Dunamu, the operator of major South Korean cryptocurrency exchange Upbit, is progressing with blockchain development as its blockchain arm Lambda256 secured new funding.

16.12 / 13:53

Blockchain Ethereum litecoin Bitcoin Gaming Giant Nexon America Starts Accepting Bitcoin, Ethereum For In-Game Purchases

Nexon America, an online gaming company and a subsidiary of the South Korean gaming giant Nexon, announced Tuesday that it has started accepting a number of crypto assets for in-game purchases as part of a deal with major crypto payment processor BitPay.

16.12 / 00:08

cryptocurrency Crime Bitcoin This Is How Fake Bitbuy Crypto Exchange Scammed Investors

South Korean police have swooped on the operators of what they say was a scam crypto exchange that sucked in 12,000 victims – after claiming investors could use it to make compound interest gains of a whopping 0.5% every eight hours.

15.12 / 03:07

cryptocurrency NFT defi Non-fungible tokens Even This Hydraulics Firm Takes Crypto, DeFi, NFT & Metaverse Plunge

The Korean Stock Exchange-listed South Korean hydraulics firm Sewon E&C is in the final stages of sealing a deal with a major decentralized finance (DeFi) player over proposed crypto, non-fungible token (NFT), and metaverse collaboration.

08.12 / 03:09

cryptocurrency Bitcoin South Korea’s Potential Next President Calls Crypto ‘A Means of Trading & Investment’

South Korea’s newly crypto-keen presidential candidate Lee Jae-myung has doubled down on his admiration for crypto: Fresh from telling the public that he was thinking of creating and issuing a national cryptoasset, the ruling Democratic Party presidential nominee has heaped more praise on crypto as an asset class.

07.12 / 16:23

AXY Currency Indices Remark BTS South Korea intensifies tax-evasion probe; crypto investment firm under investigation

The National Tax Service of South Korea is increasing its efforts toward combating tax evasion and is now cracking down on the use of cryptocurrencies for illicit activities. As reported by The Korea Herald, the agency identified more than 2,400 tax evaders who used cryptocurrencies to hide assets worth over 36.6 billion won ($32 million) from the government.

07.12 / 05:19

business investigation Korean crypto investment firm Hashed reportedly under tax investigation

Crypto investment firm Hashed is currently under investigation by the National Tax Service (NTS) in South Korea according to local media.

04.12 / 00:13

regulation Upbit exchanges KYC Drive Causes Bithumb Disruption: Logins, Transactions Affected

The South Korean crypto trading platform Bithumb has been hit by disrupted transactions, with deposits and withdrawals requests encountering “errors” – with customers rushing to complete new know-your-customer (KYC) procedures.

03.12 / 12:30

cryptocurrency Tax Bitcoin Power Crypto Fans Build Up Their Power as S Korean Politicians Delay Crypto Tax

South Korean MPs have finally overturned the government on its proposed crypto tax plans, ending a long saga that pitted lawmakers against the large crypto-skeptic administration of President Moon Jae-in.

03.12 / 10:35

Platform Metaverse may hold potential for investors

Virtual realms known as the metaverse that have become the hot topic for tech companies also are winning a new fan base among investors.

02.12 / 23:34

Microsoft CEO Apple NOT Attention aplenty for Web 3.0, Metaverse though industry leaders not unanimous

Many industry voices believe that Web3 is set to change the face of the internet as we know it. And so, funds are constantly flowing into the space. Recently, South Korea-based Hashed raised $200 million to support Web3 investments.

02.12 / 17:07

cryptocurrency Adoption Trading Bitcoin ‘Time Has Come to Embrace Crypto,’ Says South Korea Stock Exchange Chief

South Korea’s securities exchange operator, the Korea Exchange (KRX), is “studying” ways to “embrace cryptoassets,” its Chairman has stated.

01.12 / 19:39

Ethereum ETF SEC Bitcoin Grayscale vs. SEC, Fidelity's Bitcoin ETF, Investments in Metaverse, NFTs + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

30.11 / 19:23

Ethereum ETF SEC Bitcoin NOT Fed Chair on Higher & Not Transitory Inflation, Yellen On Stablecoins + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

30.11 / 15:09

cryptocurrency Tax Bitcoin South Koreans Can Trade Crypto Tax-Free Until at Least 2023 as Delay 'Virtualy Confirmed'

South Koreans will most likely be able to trade crypto without having to pay tax on their earnings for at least another year after politicians signed off on an amendment to a much-maligned and controversial tax plan – in a major blow to the government, which bitterly opposed talk of a delay.

what's happening in South Korea

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