South Korea Financial Services Commission (FSC) – DIGIT INFO

South Korean Ministries ‘Do Not Want’ to Take Charge of Crypto-Related Regulation, Claims Official

DIGIT — Tue, 18 May 2021 19:30:32 +0000

The crypto regulation crisis is on fire in South Korea, as politicians have struggled to reach agreements with top government officials to ease rulings. A local media outlet reveals that South Korean ministries “do not want” to take charge of the country’s digital assets’ regulation, after several meetings held in the last few days. Prime […]

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South Korean Banking Association Concerned Over Surge of the Altcoin Trading Frenzy

DIGIT — Wed, 12 May 2021 07:00:53 +0000

A banking association in South Korea recently added weight to regulatory discussions across the country, raising concerns about the high altcoin trading volume. The Korea Federation of Banks (KFB) requested its members to audit trading volumes through their crypto exchanges’ customers’ altcoin activity. Altcoins Trading Volume Outperformed Bitcoin Last Weekend in South Korea According to […]

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South Korean Ruling Party Contemplates Postponing Crypto Tax in a Bid to Regain Younger Votes

DIGIT — Tue, 04 May 2021 06:31:04 +0000

South Korean political parties are now battling to catch younger votes amid the tough stance among higher government spheres toward digital currencies. As voters are disappointed by how parties are handling the issue, one of them has taken a step forward by talking about the forthcoming crypto tax. The Democratic Party’s Expectations on Cryptocurrencies According […]

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South Korean Government Seeks to Regulate International Remittances Related to Crypto ‘Kimchi Premium’

DIGIT — Thu, 22 Apr 2021 00:30:23 +0000

The famous gap in cryptocurrency prices in South Korean crypto exchanges and overseas ones known as “kimchi premium” raises some concerns among the nation’s government. The latest reports suggest that the country is planning to regulate international remittances tied to kimchi premium-driven transactions. Remittances to Exploit Kimchi Premium Could Be Flagged as Money Laundering According […]

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South Korean Government Announces Crackdown on Illicit Crypto-Related Transactions in an ‘Overheated Market’

DIGIT — Sat, 10 Apr 2021 03:30:41 +0000

Adding to the South Korean cryptocurrency industry’s stricter regulations, the central government is focusing on the “crackdown” of illegal crypto transactions. A meeting over the week held with high-ranked politicians resulted in a campaign that will soon be deployed. Government Seeks International Help to Monitor International Crypto Exchanges According to Chosun, the South Korean Government […]

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Korean Exchange Operator to Oversee Crypto-Linked Stocks in the Midst of Suspicions on Unfair Trading

DIGIT — Sat, 12 Dec 2020 06:30:19 +0000

South Korean securities exchange operator is now expanding its overseeing capacity by monitoring all crypto-related stock activities after volatile movements seen in the last few weeks on listed companies tied to the industry. KRX’s Market Oversights Committee to Supervise Crypto-Linked Stocks in South Korea According to Yonhap, Korea Exchange (KRX), through its KRX’s Market Oversights […]

The post Korean Exchange Operator to Oversee Crypto-Linked Stocks in the Midst of Suspicions on Unfair Trading appeared first on Bitcoin News.

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South Korea To Ban Crypto Exchanges From Handling Privacy Coins

DIGIT — Fri, 06 Nov 2020 09:15:04 +0000

South Korea is to ban crypto exchanges from handling digital assets it considers “dark coins”. Regulator Financial Services Commission (FSC) is specifically targeting privacy coins such as dash, monero and zcash. ● The ban is with effect from March 2021. In an update to crypto regulations under the Special Payments Act, the FSC accuses privacy […]

The post South Korea To Ban Crypto Exchanges From Handling Privacy Coins appeared first on Bitcoin News.

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