South Korea fines Worldcoin for violating personal protection laws
Despite the regulatory hurdles, the project’s WLD token surged 35% this week, from $1.60 on Sept. 19 to $2.16 on Sept. 26. Go to Source
South Korea
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South Korean foundation to recover funds from defunct crypto exchanges
The Digital Asset User Protection Foundation will be set up by the DAXA self-regulatory organization and receive support from financial authorities. Go to Source
Blockchain adoption in Asia Pacific will expand into SMEs — Blockdaemon
Blockdaemon executive Andrew Vranjes said that tax regulations and the lack of uniform regulations across jurisdictions hold back institutions from adopting blockchain. Go to Source
South Korea, Hong Kong Lead Crypto Market Growth in East Asia
East Asia’s cryptocurrency market is experiencing significant growth, driven by institutional adoption in South Korea and Hong Kong, according to a report by blockchain analytics firm Chainalysis. South Korea leads with $130 billion in on-chain value, while Hong Kong emerges as a major hub due to its unique regulatory framework. Both regions reflect shifting attitudes … Read more
South Korean Regulator Unveils Plan to Inspect Crypto Exchanges for Illegal Practices
South Korea’s financial regulator, the Financial Supervisory Service (FSS), will inspect crypto exchanges to identify illegal practices following stricter regulations under the Virtual Asset Users Protection Act. The review aims to ensure compliance and safeguard crypto assets, with severe penalties for violations, including life imprisonment for profiting over five billion won illegally. South Korea’s Financial … Read more
South Korea to inspect crypto exchanges for suspicious transactions
South Korea’s FSS to enforce stricter regulations on crypto exchanges, with possible legal repercussions for noncompliance. Go to Source
South Korea Investigates Telegram Over Deepfake Crime Allegations
South Korean police are investigating Telegram for allegedly facilitating deepfake sex crimes. They plan to work with French investigators following the detention of Telegram founder Pavel Durov in France for similar investigations. “Telegram does not readily provide investigation data, such as account information, to us or other state investigative bodies, including those in the U.S.,” … Read more
Yonsei University Joins Ripple’s UBRI to Advance Blockchain Research in South Korea
Yonsei University in South Korea has joined Ripple’s University Blockchain Research Initiative (UBRI), becoming the 58th global partner and the 12th in the Asia Pacific region. This partnership aims to drive innovation in blockchain research across various disciplines, including artificial intelligence, finance, information systems, and management. Supported by Ripple’s funding and resources, Yonsei University will … Read more
South Korea joins global crackdown on Telegram, cites deepfakes
South Korea has joined the growing list of global jurisdictions, launching a probe against Telegram over illicit content dissemination. Go to Source
Indonesia and South Korea Sign New Local Currency Agreement to Boost Trade
Bank Indonesia, the Bank of Korea, and South Korea’s Ministry of Economy and Finance have introduced a local currency transaction framework to boost bilateral trade using the rupiah and won. This initiative aims to reduce exchange rate risk and improve transaction efficiency by facilitating direct currency transactions between the two nations, bypassing the need for … Read more
