South Korea to Regularly Inspect Crypto Risks With New Monitoring Tools

South Korea to Inspect Crypto Risks Regularly With New Monitoring ToolsSouth Korea’s financial regulator is developing new tools to regularly monitor crypto risks. The regulator warned that while the impact of the crypto market on the traditional financial system is still low, the risks posed by crypto to the country’s financial stability could increase sharply in the future. Korean Regulator Developing Crypto Monitoring Tools South […]

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Korean Regulator Takes Action Against 16 Foreign Crypto Exchanges

Korean Regulator Takes Action Against 16 Foreign Crypto ExchangesThe South Korean financial intelligence unit is taking action against 16 foreign cryptocurrency exchanges for operating illegally in the country. “For illegal business activities of unregistered entities, maximum of 5 years of imprisonment or up to KRW 50 million of fines can be imposed,” the regulator said. 16 Foreign Crypto Exchanges Flagged by South Korean […]

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Korean Exchanges Delist High-risk Coins as They Face Tough Regulations

Korean Exchanges Delist High-risk Coins as They Face Tough RegulationsCrypto trading platforms in South Korea are delisting certain digital currencies as they move to comply with stricter rules for the industry. The trading of some high-risk coins has been either halted or completely suspended on several Korean exchanges this week. South Korean Exchanges Wipe Trading Lists of Risky Digital Assets Trying to meet Seoul’s […]

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South Korean Financial Supervisory Service Tasked With Crypto Market Oversight

South Korean Financial Supervisory Service Tasked With Crypto Market OversightThe Financial Supervisory Service of South Korea will lead government efforts to oversee the country’s expanding cryptocurrency market. The agency has been tasked with the job after prolonged discussions over which Korean regulator should be responsible for the industry. Financial Supervisory Service Takes Responsibility for Crypto Sector in Korea It took the government months to […]

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South Korea Cracks Down on Unauthorized Cryptocurrency Funds

South Korea Cracks Down on Unauthorized Cryptocurrency FundsSouth Korean financial regulators are cracking down on unauthorized cryptocurrency funds. In particular, one crypto fund launched by a local exchange is reportedly being investigated. The exchange claims no wrongdoing as its token activities were carried out overseas, but has promptly canceled its plan to launch a second fund. Also read: Yahoo! Japan Confirms Entrance Into […]

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Korean Government Expected to Announce ICO Stance in November, Official Says

Korean Government Expected to Announce ICO Stance in November, Official SaysThe South Korean government is expected to announce its position on initial coin offerings in November, according to a high-ranking official. The decision will follow the outcome of the survey which the country’s Financial Supervisory Service recently sent out to domestic blockchain companies. Also read: RBI Argues Supreme Court Should Not Interfere With Its Crypto Decision […]

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South Korea Urges 14 Countries to Create International Discipline System for Crypto

South Korea Urges 14 Countries to Create International Discipline System for CryptoAt an annual international conference for regulators in Seoul, the South Korean Financial Supervisory Service urged regulators from 14 other countries to create an international discipline system for cryptocurrency and initial coin offerings. The Korean government also outlined its current crypto countermeasures and pushed for better information sharing and international cooperation. Also read: Yahoo! Japan Confirms […]

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‘Treasure Ship’ ICO Dupes Investors – South Korea Asks Interpol for Help

'Treasure Ship' ICO Dupes Investors - South Korea Asks Interpol for HelpSouth Korean police have asked Interpol for help with an investigation into the fraudulent token sale of Shinil Gold Coins that were claimed to be backed by the “treasure” on the sunken Dmitrii Donskoi. Local media reported that the sale raised an estimated $53.5 million from about 124,000 investors. Also read: Yahoo! Japan Confirms Entrance Into the Crypto […]

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