Crypto community members have been watching the dispute between Justin Sun and Hong Kong financial institution, FDT. On the other hand, market prices have shown minimum movements in the last 24 hours. A recent report of surging crypto crimes have unsettled waves in the community. On turning to the regulatory
Scam Took Investors’ Money A South Korean court has sentenced three people to prison for crypto scam investors out of 610 million won (about $460,000). They tricked people by promising big profits from cryptocurrency investments. According to Chosun Ilbo, the Busan District Court, led by Judge Kim Yong-gyun, announced the
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
