The Financial Intelligence Unit of South Korea recently referred approximately 40 unregistered virtual asset service providers to the police authority. It reflects Seoul’s increasing attempts to regulate the cryptocurrency firms that operate in South Korea. According to South Korean law, all crypto exchanges are mandated to get the ISMS Certification
The South Korea’s Toss Bank and Solana Foundation have collaborated on a proof-of-concept program that focuses on cross-border remittances. The goal of this proof of concept is to understand if there is an opportunity to use blockchain technology for faster and more efficient cross-border payments. Toss Bank will see whether
South Korea plans on including fintech companies in the new licensing framework for virtual asset transfers, which is due to be introduced in December. This follows the introduction of a six-month grace period into the Foreign Exchange Transactions Act amendment. The concerned government made this announcement to the local media.
Stablecoin balances from South Korea have slipped sharply since July even as stock inflows surge, highlighting a shift in where money is flowing. The overall amount of these so-called tokenized versions of fiat currencies held in wallets associated with South Korea’s 5 biggest crypto exchanges has jumped 55%, with on-chain
South Korea’s main opposition People Power Party has proposed eliminating the planned 2027 tax on digital asset income, raising worries about double taxation and policy inconsistencies. According to a local news outlet, Floor Leader Song Eon-seok’s proposal aims to eliminate the present income tax provisions on digital assets from the
Crypto.com announced a collaboration with KG Inicis, South Korea’s leading payment gateway, to scale the digital asset payments ecosystem by allowing crypto payments for foreign tourists and improving the ease of digital transactions across the country. Expanding Crypto Payment Access According to today’s announcement, KG Inicis will support and promote
Police have arrested several individuals who are linked to the vandalism attacks after being paid in cryptocurrency. Authorities say that the suspects were hired through encrypted messaging platforms and were instructed to damage property as part of a private revenge service. An arrest was made The recent arrest was of
Deputy Prime Minister and Minister of Finance and Economy Koo Yun-cheol has announced on X that the government would review the way in which crypto is handled and managed. This comes after several failures exposed the weakness in the system. Review is expected to entail management of digital assets acquired
The attorneys from South Korea have reportedly recovered around $21.4 million worth of bitcoin stolen from their custody in 2025, as per the local media reports. In December 2025, the Gwangju District Prosecutors’ Office found that they had lost the bitcoin captured from a raid on a gambling platform. The
South Korea has taken a big step by rebuilding corporations into its crypto market after scrapping a nine-year ban. The Financial Services Commission (FSC) has set up new protocols permitting listed bodies and professional companies to resume trading, successfully ending the 2017 ban. This initiative is a part of the
