The largest cryptocurrency exchange in South Korea, Upbit, is suspected of fraud and is currently under investigation. The prosecutors have conducted searches at the exchange and confiscated computers and accounting records. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Upbit Under Investigation South Korea’s largest cryptocurrency exchange, the Kakao-backed Upbit is suspected of fraud, […]
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The main regulatory body of cryptocurrencies in South Korea has a new chief who has just been approved by the country’s president. He is a known “activist and reformist” and has reportedly announced that he will consider relaxing crypto regulations to help businesses grow in this sector. Also read: Yahoo! Japan Confirms Entrance Into the Crypto […]
A group of South Korean lawmakers is working on a bill to legalize initial coin offerings (ICOs), providing they meet certain conditions under the supervision of the government. Meanwhile, the current ICO ban in the country has driven many domestic corporations to raise capital overseas. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Bill […]
Taiwan’s Minister of Justice has indicated that the country is anticipating to have implemented a regulatory apparatus for cryptocurrencies by November 2018. The Minister made comments revealing the expected deadline during a recent anti-money laundering conference. Also Read: Venezuela Shuts Down Two Cryptocurrency Exchanges Cryptocurrency Regulations Expected to be Enacted in Taiwan Before 2019 High-ranking Taiwanese […]
A South Korean cryptocurrency exchange said it suffered an internal system error which affected withdrawals. The exchange claimed that users were able to withdraw five times the number of coins they requested. It is asking for the coins back, and will seek civil liabilities and damages from users who do not voluntarily return the coins. […]
Even though South Korea is one of the most important countries when it comes to cryptocurrency, it still has a lot of work to do. Regulators have recently begun cracking down on exchanges which engage in malicious behavior. As a result, three trading platforms have been investigated thoroughly by the FSC. It’s a very interesting development, and one that will have a positive long-term effect on the cryptocurrency industry as a whole. South Korean Exchanges in the hot seat While most cryptocurrency users are familiar with major South Korean exchanges such as Upbit, Bithumb, and Korbit, there are a lot of smaller trading platforms as
Responding to media reports that South Korean internet giant Kakao plans to raise funds using an initial coin offering (ICO) abroad, the country’s financial regulator reportedly warned that the ICO could violate current cryptocurrency regulations. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies ICOs Abroad Could Still Violate Korean Laws Kakao Corp, […]
Thirty-five countries and the European Commission have asked the Financial Action Task Force (FATF), responsible for setting global anti-money laundering (AML) policies, to revise its standards relating to cryptocurrencies. The organization promised to present its revised AML countermeasures for cryptocurrencies at the upcoming G20 meeting of finance ministers. Also read: Indians Look to Buy Bitcoin Overseas […]
South Korea currently has no law against government officials insider trading with the knowledge of cryptocurrency regulations. The case against an employee of the country’s Financial Supervisory Service (FSS) accused of crypto insider trading has come to a standstill without grounds for punishment. However, the government has worked out a plan to prevent future occurrences. […]
The Hong Kong Securities and Futures Commission has sent letters to seven cryptocurrency exchanges regarding their listings of securities tokens without a license. Most of the exchanges took immediate rectification measures, including removing problematic cryptocurrencies from their platforms. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Hong Kong Takes Action The Hong […]