SEOUL, April 5 (Korea Bizwire) — Rising concerns are alluding to cryptocurrency exchanges in South Korea receiving higher commissions than securities firms despite issues in the stability of transactions. Rep. Yoo Gyeong-joon of the People Power Party received reports from the Financial Services Commission and the Financial Supervisory Service that four major cryptocurrency exchanges in [...]
SEOUL, April 1 (Korea Bizwire) — Investors in their 20s and 30s deposited a total of 19.04 trillion won (US$15.6 billion) in South Korea’s major cryptocurrency exchanges last year, data showed Thursday. The Financial Supervisory Service reported that the five major cryptocurrency exchanges in South Korea were holding investments of 52.8 trillion won as of [...]
SEOUL, March 3 (Korea Bizwire) — Major cryptocurrency exchanges in South Korea have blocked IP addresses from Russia in an effort to join global sanctions against Moscow over its invasion of Ukraine. Upbit, the country’s largest cryptocurrency exchange by transaction, announced Thursday withdrawal requests from Russian IP addresses could be rejected. “We’ve blocked subscriptions by [...]
SEOUL, Aug. 17 (Korea Bizwire) — Some foreign cryptocurrency exchanges have distanced themselves from South Korea as Korean authorities are set to enforce tighter regulations against virtual coins. By Sept. 24, cryptocurrency exchanges targeting Korean investors must register with the nation’s anti-money laundering body and disclose their details on risk management. Under the tougher regulations, [...]
SEOUL, July 22 (Korea Bizwire) — Foreign cryptocurrency exchanges targeting Korean people will face blocked access to their websites and criminal probes unless they register with South Korea’s anti-money laundering body, the nation’s top financial regulator said Thursday. By Sept. 24, all cryptocurrency exchanges using Korean currency must register with the Korea Financial Intelligence Unit [...]
SEOUL, June 16 (Korea Bizwire) – Cryptocurrency exchanges here are removing some coins from their trading platforms as they are bracing for tough regulations on digital currency transactions set to be introduced in September, inducing sharp falls in prices and irking investors, industry sources said Wednesday. At least 11 of 20 certified cryptocurrency exchanges have [...]
SEOUL, June 2 (Korea Bizwire) — Smaller cryptocurrency exchanges are scrambling to kick out so-called altcoins as a new amendment bill for reporting and using specified financial transaction information is soon to take effect. By September, all cryptocurrency exchanges must offer Information Security Management System (ISMS) authorization and bank account connections to stay in business. [...]