South Korea

Highlights: Bank of Korea will launch a CBDC pilot called Hangang with 100,000 participants in April. Participants will be able to convert bank deposits into digital tokens for payments at affiliated merchants. The Hangang CBDC program aims to streamline transactions […]

Highlights: Wemix has announced that it delayed announcing the hack to avoid panic among its investors. Hackers accessed the Play Bridge Vault and stole over 8.6 million WEMIX tokens The company is planning a buyback program that will be carried […]

Highlights: South Korea is set to test a CBDC by allowing users to use deposit tokens for real transactions at select stores. The Bank of Korea will pilot the CBDC for three months. The test may lead to the adoption […]

Highlights: South Korea is making stricter rules to stop money laundering through crypto. A new task force will track fraud, phishing, and transactions to stop financial crimes. Authorities are watching Japan’s move and may follow if Bitcoin ETFs get approval. […]

Highlights: South Korea has launched a permanent crypto crime unit to fight fraud. The unit has indicted 74 people and arrested 25 suspects since its inception. Authorities believe the unit will improve cooperation to deal with crypto fraud. The Seoul […]

Highlights: Upbit cannot process crypto deposits and withdrawals for new users for three months due to violations. Authorities found that Upbit failed to verify customer identities and processed transactions with unregistered service providers. Upbit is making changes and is working […]

Highlights: Upbit faces FSC sanctions for failing to verify over 700,000 customer identities. Regulators warn of heavy fines, possible suspension, or stricter compliance measures. Cryptocurrencies are coming under more scrutiny in South Korea, affecting exchanges and institutional trading policies. The […]

Highlights: South Korea will allow corporate crypto accounts in three phases to ensure market stability. Law enforcement agencies and nonprofits will get access to the corporate crypto accounts first followed by investment firms and listed companies. General corporations may join […]

Highlights: South Korea will create a permanent unit to fight cryptocurrency crimes as fraud and money laundering cases increase. The crypto crime unit has seized assets worth $97.5 million and arrested 18 suspects linked to illegal activities. Authorities plan to […]

Highlights: Upbit and Bithumb will pay users 3.5 billion won for system failures during the martial law declaration. Financial regulators have demanded improved servers and emergency plans to protect cryptocurrency investors in South Korea.  The former CEO of Bithumb has […]

Highlights: South Korea reports its first virtual asset price manipulation case under the Virtual Asset Act. The suspect profited using a pump-and-dump strategy within 10 minutes. Authorities aim to strengthen market regulations and prevent unfair trading practices. South Korea has […]

Highlights: South Korea’s FIU issues a suspension notice to Upbit for violating KYC and AML rules. Upbit could face suspension of up to six months, affecting new user activity and withdrawals. South Korea strengthens crypto regulations and collaborates with the […]