From being a niche industry limited to tech enthusiasts to becoming a trillion dollar industry with widespread adoption across the globe, the crypto industry witnessed massive growth over the years. Despite the growing adoption of cryptocurrencies, global countries have not yet formed clear regulatory policies for the industry. South Korea
South Korean financial regulation, Financial Intelligence Unit (FIU) ordered Upbit exchange to suspend its business operations for violating KYC and AML regulations. Upbit is the top crypto exchange in South Korea and top 5th crypto exchange across the world, in terms of trading volume. Being one of the largest crypto
South Korea Financial Services Commission (FSC) has taken a cautious approach to enabling corporate cryptocurrency trading accounts, deferring a decision for further discussion. The stance was outlined during the second Virtual Asset Committee meeting on January 15, as reported by the Korea Times. FSC Vice Chairman Kim So-young stated that
After being the hot topic for the entire year of 2021, NFTs made no noise for the last couple of years. With a short bull run we witnessed in Dec and the rise of NFT collections such as Pudgy Penguins, NFTs are coming back on track. At one point in
South Korea emerged to be one of the largest crypto markets across the world, having a majority of the traders from the country. It’s not new for the country to make headlines several times for updates related to the crypto industry. As per the latest news from local agency Naver
The South Korean government announced that it imposes sanctions on 15 North Korean individuals and one entity involved with illegal activities today. A North Korean cyber unit called 313 Bureau is also sanctioned for involvement in crypto theft. Announcements like these, amidst increasing cybercrimes and crypto hacks, put a break
South Korean President Yoon Suk Yeol declared martial law late on December 3, evoking widespread political disruption and intense backlash from lawmakers. This aimed to counter the alleged threats from anti-state elements and perceived opposition ties to North Korea. However, the move was short-lived as Yoon reversed his decision early
South Korea’s crypto market witnessed a historic surge, with retail trading volumes surging in the past 24 hours to $18 billion. This activity outpaced the nation’s stock market by 22%, according to a December 2 report by 10x Research. XRP led the charge with over $6.3 billion in trading volume,
South Korean police have officially confirmed that the 342,000 Ethereum (ETH) stolen from Upbit, the country’s largest cryptocurrency exchange, in 2019 was done by North Korean hacker groups Lazarus and Andariel. This is the first time a domestic agency has publicly linked North Korea to a major cryptocurrency theft. Initially,
South Korea’s largest cryptocurrency exchange, Upbit, faces an investigation for alleged violations of Know Your Customer (KYC) procedures. The Financial Intelligence Unit (FIU) has flagged between 500,000 and 600,000 identification issues during the review of Upbit’s business license renewal. The FIU uncovered numerous instances of blurred names or incomplete data
