The People’s Power Party (PPP), the governing party in South Korea, has proposed a new bill urging lawmakers and other high-level government officials to implement crypto legislation and regulations as soon as possible. This request was made on Tuesday, May 23. PP House Leader Yun Jae-ok addressed the press with
The prosecutors in South Korea have conducted a raid on the two local crypto exchanges as part of the investigation into the digital assets of lawmaker Kim Nam-kuk. Yonhap, a South Korean news agency, reported that a group of prosecutors from the Seoul southern district office raided the two crypto
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
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
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
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
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
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
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
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
