South Korea is moving to expand tokenized securities beyond fractional investment products, with plans to build infrastructure that can eventually support stocks, bonds, funds and other traditional securities. The Financial Services Commission (FSC) announced the policy direction on September 4 following a meeting of its public-private tokenized securities consultative body.
South Korea has officially stated that its crypto tax will include taxable income generated by means of individual wallets and foreign exchanges as of January 1, 2027. According to the Ministry of Economy and Finance and NTS it doesn’t matter where the asset is located or how it is stored.
The company has pushed back its IPO plans in order to concentrate on compliance and corporate governance. According to the South Korean cryptocurrency trading platform, Bithumb now plans to list its shares in 2028, abandoning its earlier plans for listing within either 2025 or 2026. The change in strategy was
South Korea’s financial sector has made yet another important move toward digital assets through a groundbreaking corporate deal this week. Mirae Asset Consulting, an affiliate of Mirae Asset Financial Group, has concluded its acquisition of cryptocurrency exchange Korbit and become the largest shareholder in the company by completing all necessary
The listing of DRV tokens on the biggest crypto exchange in South Korea is going to provide better market accessibility to the Derive protocol by July 14. Upbit confirmed support for KRW, BTC, and USDT trading pairs. This brings the protocol to one of Asia’s most liquid retail cryptocurrency markets.
Upbit, South Korea’s largest cryptocurrency exchange platform, announced the listing of Metaplex (MPLX) and Nexus (NEX). MPLX will be available to trade with BTC and USDT trading pairs on the Solana blockchain platform. NEX will be listed in the USDT market on the Ethereum network. Deposits and withdrawals will start
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
