Cryptocurrency has become the talk of the town in the past few months. While prices have lost their peak, the same cannot be said for other sectors. For instance, the US spot ETF sector has shown a significant boom over the past few days. Several altcoins are anticipated to see
The Bank of Korea (BOK) has officially rejected the idea of considering Bitcoin (BTC) in its foreign exchange reserves, mainly because of its volatile nature and liquidity concerns. In a response to an inquiry from lawmaker Cha Gyu-geum, the central bank stated, the central bank has confirmed that it had
Cryptocurrency hacks have been far from reducing over the past months. Following a short dormancy during the end of 2024, the sector witnessed the huge Bybit hack in February. This hack occurred on February 22 and experienced a loss of $1.4 billion worth of funds. Particular investigators alleged that the
The Financial Services Commission in South Korea plans to enable fund sales from digital asset donations in 2025. Operations such as charities, universities, and cryptocurrency exchanges receive the capability to convert their donated crypto assets into cash. The regulator also seeks to launch a pilot program on corporate crypto trading.
South Korea is the third-largest cryptocurrency trading country, but it has not yet introduced cryptocurrency exchange-traded funds (ETFs). Experts warn that this delay could make the country fall behind in global finance. Jung Eun-bo, chairman of the Korea Exchange (KRX), has urged the government to launch crypto ETF. He says
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
