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 [...]
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 [...]
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) [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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, [...]