South Korea

South Korea

Upbit Is First Korean Exchange to Register With Authorities Before September Deadline

Eliza GkritsiAug 23, 2021

Crypto exchanges that don't register by Sept. 24 face being shut down in South Korea.

Travel Rule

Operator of South Korea’s Largest Exchange Rolls Out ‘Travel Rule’ Solution in Singapore

Sebastian SinclairAug 17, 2021

The blockchain research arm of Upbit's operator has launched its VerifyVASP in Singapore, a solution for combating crypto money laundering.

South Korea

South Korea’s Top Financial Regulator Is Forming a Crypto Bureau

Cheyenne LigonAug 26, 2021

The Crypto Asset Monitoring Bureau will officially launch in September and oversee licensing for exchanges and other operators.

South Korea

LINE’s Crypto Exchange to Cease Activity in South Korea Ahead of Regulatory Deadline: Report

Sebastian SinclairAug 17, 2021

The development shows potential for many foreign exchanges to pull or limit services within the country ahead of tougher regulations.

Binance

Binance Discontinues South Korean Won Trading Pairs, Payment Options

Jamie CrawleyAug 13, 2021

The crypto exchange will discontinue Korean language support and remove won trading pairs.

South Korea

CBDCs

Samsung Plans to Test Mobile Phone Functionality With South Korea’s CBDC Pilot

Sebastian Sinclair

The electronics giants will look at whether transactions can be completed without internet availability.

Remittances

Top South Korean Money Transfer Firm Joins RippleNet to Further Remittances to Thailand

Sebastian Sinclair

Ripple is focusing on Asia, which the company has said is its fastest-growing market.

Crypto Exchanges

Korean Crypto Exchanges Paid $14.7M to Banks for Name Verification Services: Report

Eliza Gkritsi

Exchanges have to set up partnerships with banks for real-name verification by Sept. 24.

South Korea

South Korea’s Financial Watchdog Warns Foreign Exchanges Must Register in 2 Months

Sebastian Sinclair

The Korea Financial Intelligence Unit is pushing for exchanges to register in line with new anti-money laundering laws.

CBDCs

Bank of Korea Chooses Ground X as Supplier for CBDC Pilot: Report

Jamie Crawley

South Korea's central bank has picked a blockchain subsidiary of internet giant Kakao.

CBDCs

3 Firms Vie to Develop South Korea’s CBDC Pilot

Felix Im

BOK will base its evaluation on the technological capacity of each firm.

Crypto Custody

Another Large Bank in South Korea to Provide Custody of Crypto Assets

Nate DiCamillo

Woori Financial Group is joining forces with bitcoin exchange Coinplug to offer the service.