South Korea

Highlights: South Korea has launched a deposit token trial to replace government card payments. Deposit tokens allow authorities to control when and how government funds are used through preset rules. The pilot uses blockchain and a CBDC system to reduce […]

Highlights: Ripple and Kyobo Life have launched a test for tokenized government bond settlement in South Korea. The project aims to reduce settlement time from two days to near real-time while lowering risk for institutions. Kyobo Life joins Ripple to […]

Highlights: Bank of Korea wants crypto exchanges to use circuit breakers after Bithumb’s major payout mistake. The central bank said weak controls and slow detection made the Bithumb incident much worse. The report also reviewed stablecoin risks, price swings, and […]

Highlights: Korea and France’s central banks met in Seoul to discuss digital assets and climate risks. Stablecoins and CBDCs are changing how payments and global finance systems work. South Korea and France are tightening rules to control stablecoins and protect […]

Highlights: A $4.8 million loss pushed authorities to accelerate crypto custody reform after a wallet phrase leak. The National Tax Service will shift seized crypto storage from internal systems to licensed custody providers. A wider government review is underway after […]

Highlights: A new proposed bill would repeal South Korea’s planned 22% virtual asset taxation. The People Power Party said crypto investors deserve equal treatment after the stock tax repeal. The Democratic Party responded by saying it will review the bill. […]

Highlights: Crypto.com and KG Inicis have teamed up to enhance digital asset payments. The partnership enables foreign travelers to spend crypto for payments in South Korea. KG Inicis processes over 400 million yearly transactions, giving the rollout a rapid commercial […]

Highlights: South Korea plans to regulate the use of stablecoins in businesses. Legal contradictions are leading to the exclusion of stablecoins in investments. Stablecoins face legal hurdles under the Foreign Exchange Act in South Korea. The financial authorities in South […]

Highlights: South Korea plans to limit major shareholders in crypto exchanges to address governance risks. Bithumb and Gopax may need ownership restructuring when the proposal passes. The Digital Asset Basic Act will also address stablecoins and crypto ETFs when passed. […]

Highlights: The central bank wants banks to lead digital token issuance to protect monetary stability. Lawmakers have delayed Won stablecoin rules as they debate issuer control and ownership. Regulators are reviewing cross-border payment tests as stablecoin usage continues to grow. […]

Highlights: South Korean lawmakers pressure regulators for failing to spot Bithumb system weaknesses. This comes after a Bithumb mistakenly credited users with massive Bitcoin totals during a promotion event. Bithumb recovers most funds, but oversight concerns continue to grow. South […]

Highlights: South Korean prosecutors recover $21 million in Bitcoin after months of blockchain tracking. A phishing attack drained 320.8 BTC from the government prosecutors’ digital wallet in August last year. Authorities traced blockchain transfers and forced the return of stolen […]