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Korean Banks Weigh Joint Stablecoin Plan as Lawmakers Push for Rapid Rollout

Korean Banks Weigh Joint Stablecoin Plan as Lawmakers Push for Rapid Rollout

SEOUL, June 11 (Korea Bizwire) —As South Korea’s ruling Democratic Party accelerates efforts to legalize and regulate won-based stablecoins, industry insiders warn that a hasty rollout could expose the financial system to disorder and weaken the country’s global competitiveness. In a move reflecting growing pressure from lawmakers, a consortium of major South Korean banks — including [...]

Bitget Scans Ahead at Solana Summit 2025 with QR-based Payment Rollout

Bitget Scans Ahead at Solana Summit 2025 with QR-based Payment Rollout

VICTORIA, Seychelles, June 10, 2025 (Korea Bizwire) – Bitget Wallet, the leading non-custodial Web3 wallet, concluded an impactful showing at the Solana APAC Summit 2025, held in Da Nang, Vietnam from June 5 to 7. As a major sponsor of the summit, Bitget Wallet used the three-day event to debut its newest payment features, connect with [...]

Majority of Koreans Plan to Expand Digital Asset Investments Amid Policy Shifts

Majority of Koreans Plan to Expand Digital Asset Investments Amid Policy Shifts

SEOUL, June 10 (Korea Bizwire) — As South Korea’s new administration moves to position the country as a global hub for digital assets, a majority of Koreans say they plan to increase their investment in cryptocurrencies and related financial products, according to a nationwide survey released Monday. The Korea Chamber of Commerce and Industry (KCCI) [...]

Token Securities, Crypto ETFs Poised for Legal Boost After Election

Token Securities, Crypto ETFs Poised for Legal Boost After Election

SEOUL, June 4 (Korea Bizwire) — As South Korea prepares to usher in a new administration following the 21st presidential election, the nation’s digital asset industry is poised for a potential regulatory breakthrough, with both leading candidates expressing support for broader integration of blockchain-based financial products into the legal framework. Both Lee Jae-myung and Kim [...]

Bank of Korea Chief Personally Lobbies Top Bank CEOs to Join Digital Currency Pilot

Bank of Korea Chief Personally Lobbies Top Bank CEOs to Join Digital Currency Pilot

SEOUL, May 22 (Korea Bizwire) – In an unusual move underscoring the strategic importance of South Korea’s digital currency initiatives, Bank of Korea Governor Rhee Chang-yong has personally visited the heads of the country’s major commercial banks, urging their active participation in two key central bank digital currency (CBDC) pilot projects. According to industry sources, Rhee [...]

S. Korea, EU Agree on Close Cooperation in Countering N. Korea’s Crypto Theft

S. Korea, EU Agree on Close Cooperation in Countering N. Korea’s Crypto Theft

SEOUL, May 20 (Korea Bizwire) — South Korea and the European Union (EU) agreed Tuesday on the need to boost cooperation in responding to growing cyberthreats worldwide, including North Korea’s cryptocurrency theft, to ensure a safe and open cyberspace order, Seoul’s foreign ministry said. The two sides shared the understanding during their bilateral policy dialogue [...]

South Korea’s Crypto Market Doubles in Value, Surging to ₩108 Trillion

South Korea’s Crypto Market Doubles in Value, Surging to ₩108 Trillion

SEOUL, May 20 (Korea Bizwire) — The value of South Korea’s virtual asset market nearly doubled in the second half of last year from six months earlier, on rising prices of cryptocurrencies, data showed Tuesday. The market capitalization of the virtual asset market had come to 107.7 trillion won (US$77.6 billion) as of end-2024, up [...]

Wemix to Be Delisted From Major Crypto Exchanges in S. Korea After Hacking Incident

Wemix to Be Delisted From Major Crypto Exchanges in S. Korea After Hacking Incident

SEOUL, May 2 (Korea Bizwire) — Wemix, a cryptocurrency issued by Korean game publisher Wemade Co., will be delisted from major domestic crypto exchanges next month following a large-scale hacking incident, exchange operators said Friday. The Digital Asset eXchange Association (DAXA), an alliance of five major crypto exchanges — Upbit, Bithumb, Coinone, Korbit and Gopax [...]

South Korea’s First Alternative Stock Exchange Set to Shake Up Market in April

South Korea’s First Alternative Stock Exchange Set to Shake Up Market in April

SEOUL, Feb. 6 (Korea Bizwire) — South Korea is set to enter a new era of capital market competition as Nextrade, the country’s first alternative trading system (ATS), begins operations on April 4. The Financial Services Commission announced at its second regular meeting on February 5 that it would grant final approval for Nextrade’s multilateral trading [...]

Crypto Mogul Kwon Could Face 130 Yrs in Prison If Convicted of All Charges: Justice Dept.

Crypto Mogul Kwon Could Face 130 Yrs in Prison If Convicted of All Charges: Justice Dept.

WASHINGTON, Jan. 2 (Korea Bizwire) — South Korean crypto mogul Kwon Do-hyeong could face up to 130 years in prison if he is convicted of all fraud and other charges, the U.S. Justice Department said Thursday, as he made his initial appearance in a New York court and pleaded not guilty to those charges. Kwon, [...]