Sat, November 9

South Korean Court Says Terraform Labs’ Luna Token Not a Security

The decision by a South Korean district court that Terraform Labs’ native token, luna, is not a security has significant implications for the company and the wider cryptocurrency industry. The ruling comes after previous court discussions where authorities were on the fence about whether the Capital Markets Act applied to

April 24, 2023 2 mins read

Ripple (XRP) Draws Major Attention in South Korea

Ripple (XRP) has reportedly one of the greatest-performing assets in the cryptocurrency industry. The price of Ripple has been steadily rising since the start of 2023. On March 21, the token moved from the $0.3 zone to the $0.4 zone. The token eventually conquered a fresh hurdle to reach $0.5

April 19, 2023 1 min read

South Korean Regulators Seize $160M From Terra Luna Suspects

South Korean regulator, Seoul Southern District Prosecutor’s Office, succeeded in recovering 210 billion won, worth $160 million at press time, from 8 suspects of the Terra Luna collapse.  Reportedly, the authorities seized properties that were “unfair profits” earned by the Terraform Labs co-founder Shin Hyun-Seong also known as Daniel Shin

April 4, 2023 2 mins read

Alchemy Pay Strengthens Empire in South Korea

Alchemy Pay, the Singapore-based payment gateway, has partnered with DWF Labs to expand its operations in South Korea. DWF Labs, a Web3 investment firm, has provided $10 million in funding to the payment gateway. We are excited to partner with DWF Labs, the prominent multi-stage web3 investment firm to secure

April 3, 2023 2 mins read

South Korea Announces Dedicated Funding To Boost Metaverse Projects

South Korea has doubled down on the metaverse’s promise as a new economic development hub. While other countries around the world have been sidetracked. By the noise around price volatility and ecosystem failures in crypto. The Ministry of Science and ICT of South Korea has announced funding for a special

March 12, 2023 1 min read

South Korea to Launch Crypto Tracking System in First Half of 2023

The Justice Ministry of South Korea has announced that a “virtual asset tracking system” would be implemented in the country during the first half of 2032. As a means to combat money laundering and retrieve stolen funds, South Korea is looking to cryptocurrencies. According to official statistics, 75% of all

January 29, 2023 1 min read

South Korea to Launch World’s First Digital Commodity Exchange

South Korea’s second-largest city Busan will launch the first decentralized digital commodity exchange in the world, where all goods will be tokenized and traded using blockchain technology.  The announcement came as its earlier plan to pursue a city-backed cryptocurrency trading platform. However, according to a press release from the Busan

January 20, 2023 1 min read

South Korea Announces a New Monitoring Tool to Detect Risks

South Korea’s Financial Supervisory Services (FSS) has announced a proposal to establish a cryptocurrency monitoring tool. That will be integrated into the identification verification system by the end of January. As well as penalizing cryptocurrency investors who refuse to validate their identities. FSS governor Lee Bok-hyun officially announced this on

January 19, 2023 2 mins read

Terra Founder’s Location Becoming Clearer by South Korean Reports

Do Kwon, the CEO of Terraform Labs, is still being sought around the world, and the South Korean government now thinks he may be in Serbia after departing Singapore in September. As per the report, South Korean police investigated a tip about Do Kwon’s whereabouts and were able to determine

December 12, 2022 1 min read

Daesung Private Equity Unveils $83.5M Metaverse Fund

The South Korean VC company Daesung Private Equity has made the decision to invest in the metaverse. On November 30th, the firm announced the creation of a fund dedicated to investing in the metaverse. With a total of 110 billion won (about $83.5 million). With the backing of the Korea

December 3, 2022 2 mins read