South Korea’s Financial Supervisory Service will increase its oversight of the cryptocurrency market and apply more stringent penalties to financial firms for IT-related incidents.
The South Korean financial regulator is pushing for ownership ceilings on cryptocurrency exchanges, modeling the approach on existing securities market safeguards.
Posing as payments for cosmetic surgery and tuition, an alleged international laundering network processed roughly $102 million through cryptocurrency and South Korean banks before being busted by customs investigators.
A new rule limiting corporate cryptocurrency holdings to 5% of equity capital is under consideration in South Korea.
A landmark bill that would shape South Korea’s cryptocurrency landscape, including allowing won-based stablecoins, has been delayed until 2026.
A new report has triggered scrutiny of a South Korean opposition leader’s ties to the cryptocurrency industry.
South Korea’s ruling party has drawn a line in the sand, ordering the Financial Services Commission to deliver a stablecoin regulatory plan by December 10.
