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South Korea, a nation long enamored with cryptocurrency, is tightening its belt on the digital asset frontier. Faced with a surge in crypto-related crimes, the country is bolstering law enforcement and implementing its first-ever comprehensive crypto regulation, set to take effect in July 2024.
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Crypto.com, a global crypto exchange, recently postponed its much-anticipated retail market expansion in South Korea, originally scheduled for April 29.
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Crypto.com is launching a crypto trading platform in South Korea after its acquisition of OK-BIT, a local crypto exchange.
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Terraform Labs co-founder Do Kwon is now set to be released from prison in Montenegro; however, the South Korean will remain restricted to the borders of the European nation pending a fixed date for his extradition to his home country.
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With origins from Japan and South Korea, Klaytn and Finschia claim that they are slated to become Asia’s largest Web3 ecosystem.
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South Korea’s regulator, the Financial Intelligence Unit (FIU), is on the path of increasing their oversight of crypto exchanges within the country as the agency has revealed its plans for exchanges this year.
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OKX, a major player in the global crypto trading market, is currently facing scrutiny in South Korea.
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South Korea is set to implement robust measures to safeguard digital asset users and establish “order” in the nascent crypto market.
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Terra founder Do Kwon and co-founder Shin Hyun-Seong of the failed crypto project are still fighting legal battles almost two years after the devastating collapse of the network.
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In a major development for the ongoing investigation into the spectacular crash of Terraform Labs and its algorithmic stablecoin TerraUSD, Han Chang-joon, the company’s former chief financial officer, has been extradited to South Korea.
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