The governor of the South Korean central bank has voiced his cautious optimism regarding the issuance of a won-pegged stablecoin but has noted possible foreign exchange management issues. Bank of Korea Governor Rhee Chang-yong admitted that these digital assets may make currency exchanges easier but cautioned against unintended effects in
South Korea’s digital asset landscape is poised for a potential regulatory shift as Bank of Korea Governor Rhee Chang-yong is scheduled to meet with CEOs of major commercial banks on June 23 in Seoul. The high-level meeting, set to take place at the Bank of Korea (BoK) headquarters, comes at
In a major effort to legalise cryptocurrency regulation, South Korean representative Min Byeong-deok proposed a sweeping new bill on Tuesday that would transform the country’s digital asset ecosystem. The Digital Asset Basic Act bill, as it is called, creates a new licensing system for stablecoin issuers and establishes general rules
South Korea has finally elected a pro-crypto candidate, Lee Jae-myung, as the president of the country. With a majority of the votes and support from crypto proponents, Lee is the new president of South Korea. He is poised to bring some major changes to the present crypto landscape and build
South Korea will now surely have a crypto-friendly regulation independent of the factor who wins the presidential election, as both presidential candidates have run on pro-crypto platforms and promised to ease regulations as well as expand crypto access. The South Korean election will take place on June 3 to elect
The Financial Services Commission of South Korea will make it compulsory for non-profit organizations and crypto exchanges to comply with a firm customer verification process from June. The official release of FSC states that these bodies will be permitted to sell virtual assets under new laws. Nonprofits are permitted to
South Korea’s second-largest crypto exchange, Bithumb, is staging an aggressive comeback. After years of struggle and losing ground to rivals, Bithumb now commands 25% of South Korea’s cryptocurrency trading volume, a significant leap from its single-digit share in 2023. The resurgence comes just ahead of its planned $1 billion IPO
South Korea has arrested 25 individuals linked to coordinated fake cryptocurrency investment scams targeting retail investors. The arrests were made in Jeju, where authorities uncovered four interconnected fraud rings. These groups operated under the appearance of legitimate investment firms, using call centers to pose as crypto advisors. Their tactics included
The Democratic Party of South Korea revealed a Digital Asset Committee on May 13. The Committee will be dedicated to bringing crypto regulation directly to the office of the next president. On the same day, the committee held its first meeting at the National Assembly Members’ Hall in Seoul. Also,
South Korea’s governing People Power Party (PPP) has unveiled a progressive digital asset agenda in preparation for the pivotal June 3 snap election. The party promised to legalise spot crypto ETFs and scrap the inhibitive “one exchange, one bank” rule as part of efforts to bring the country’s cryptocurrency industry
