The South Korean government faces increasing pressure to approve cryptocurrency ETFs after the SEC approved spot Ethereum ETFs in the United States, following the earlier approval of Bitcoin ETFs.
According to a local news report, South Korea is making efforts to make its temporary crypto investigative unit a permanent one in response to the rising number of criminal and fraudulent cases.
Upbit has announced that it will temporarily suspend deposits and withdrawals of digital assets worth more than 1 million Korean won ($721).
In the first quarter of 2024, the South Korean won has surpassed the US dollar as the world’s most heavily traded fiat currency against cryptocurrencies.
The court in Montenegro has ruled that Do Kwon, co-founder of Terraform Labs, will be extradited to South Korea.
After the upcoming April elections in South Korea, the newly formed government may ease regulations on digital assets.
The South Korean Office of the President is urging the financial regulator to reconsider its stance on approving a local Bitcoin exchange-traded fund (ETF).
