Republic of Korea (South Korea) News

Shinhan Bank Doubles Down on Monitoring Crypto-related Accounts
Shinhan Bank Doubles Down on Monitoring Crypto-related Accounts
01 July 2019, 15:49
Shinhan Bank South Korea has revealed it will increase efforts to monitor the account of customers whose transaction records show a link to the use of cryptocurrencies.
Bithumb and co. Will Pay Users If Hackers Steal From Them
Bithumb and co. Will Pay Users If Hackers Steal From Them
17 June 2019, 18:06
Five South Korean crypto exchanges including Bithumb would pay back users if hackers attack their platform.
Korea Blockchain Association Appoints Oh Gap-soo as Chairman
Korea Blockchain Association Appoints Oh Gap-soo as Chairman
13 June 2019, 13:12
he Korea Blockchain Association (KRA)has appointed as chairman, Oh Gap-soo, 70, former deputy of the Korea Financial Supervisory Service (FSS).
Shinhan Bank Adopts Blockchain for Loan Verification Process
Shinhan Bank Adopts Blockchain for Loan Verification Process
28 May 2019, 06:18
Shinhan Bank, the oldest bank in Korea, has reportedly adopted blockchain technology for a new lending platform designed to facilitate real-time settlements.
12 Arrested in South Korea for $18.7 Million Crypto Fraud
12 Arrested in South Korea for $18.7 Million Crypto Fraud
08 April 2019, 15:49
Authorities in South Korea has employed an AI tool to figure out the masterminds behind a cryptocurrency-related Ponzi scheme that defrauded investors of up to $18.5 million
Top Officials Agrees South Korea Should Review Crypto Rules
Top Officials Agrees South Korea Should Review Crypto Rules
05 April 2019, 11:34
South Korean Officials at Deconomy notes that the time is not right for the country to review its existing regulations for the cryptocurrency industry. What rules do you think they should enact?
South Korean Political Party Wants Blockchain
South Korean Political Party Wants Blockchain
04 February 2019, 10:36
Liberty Korea Party (LKP), members have agreed to embrace blockchain technology as a way to achieve digital democracy.
We Won't Reverse ICO Ban — South Korea
We Won't Reverse ICO Ban — South Korea
31 January 2019, 22:55
Authorities in South Korea says any hope of reversing its 2017 ban against Initial Coin Offerings (ICOs) will not happen soon because some projects are still non-compliant
South Korea Implements Crypto Tax Break
14 January 2019, 08:42
South Korea's amended tax law stipulates that any company innovating with specific technologies such as blockchain will be entitled to some tax deductions. The deductions will be from the company's research and development (R&D) expense and will vary in value depending on the size of the business.
UPbit Executives Defend Latest Fraud Indictment By Prosecutors
24 December 2018, 21:03
Two senior staff including the founder of UpBit Chi-Hyung was recently charged by the Prosecutors’ Office of the southern district of Seoul in South Korea for alleged fraudulent activities that happened on their exchange late last year.
South Korea Crypto Exchanges Unite To Improve Ecosystem
14 December 2018, 20:04
The South Korean crypto industry is in line for significant growth in the coming months after local exchanges agreed to collaborate to good effect. The partnering exchanges include Bithumb, Coinone, Korbit, UpBit, Gopax, Coinplug, and Hanbitco who will now work toward the creation of a sound cryptocurrency ecosystem in the country.
G20 To Align Crypto Regulations With FATF
G20 To Align Crypto Regulations With FATF
03 December 2018, 16:25
At a just-concluded G20 Summit held in Buenos Aires, Argentina, the body announced as part of its written declaration that they “will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF standards and we will consider other responses as needed”.
Bithumb To Open Security Token Exchange
Bithumb To Open Security Token Exchange
04 November 2018, 22:09

South Korea based cryptocurrency exchange, Bithumb has signed a new deal with an American Fintech firm, SeriesOne. According to a local news source, the purpose of the new union is to establish an exchange that is dedicated to trading security tokens.

Exchanges shouldn't have problems with banks in Korea
Exchanges shouldn't have problems with banks in Korea
31 October 2018, 19:54

The unceasing growth in crypto trading has given rise to many illegal activities like money laundering and high profile hacking of top crypto exchanges around the world. The Chairman of Financial Services Commission South Korea has, yesterday, clarified in a statement that with the support of banking sector the crypto exchanges will never face such issues. Here, it is pertinent to mention that South Korean banks used to open virtual currency accounts that were banned by the financial regulators back in January by introducing strict anti-money laundering rules for crypto exchanges and banks.