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, Sept. 2 (Korea Bizwire) — The head of the U.S. Securities and Exchange Commission (SEC) met with the deputy chief of South Korea’s financial regulator Monday for talks on various issues, including regulations on virtual assets, officials said. SEC Commissioner Mark Uyeda and Kim So-young, vice chair of the Financial Services Commission (FSC), met [...]
SEOUL, Mar. 27 (Korea Bizwire) — The financial regulator announced plans Wednesday to introduce new rules on the investigation and punishment of illegal transactions involving virtual assets. The new rules will be implemented in tandem with the new Virtual Asset Users Protection Act, set to be enacted July 19, according to the Financial Services Commission [...]
SEOUL, June 30 (Korea Bizwire) — About half of South Korean adults have owned a digital asset like bitcoin at some point in the past, a survey showed Thursday. The Korea Financial Consumers Protection Foundation conducted a survey of 2,500 people under 70 years of age, of whom 30 percent said they currently own a [...]
SEOUL, Jan. 20 (Korea Bizwire) — Main opposition presidential candidate Yoon Suk-yeol vowed Thursday to deregulate the virtual asset industry to further promote its growth. Yoon of the conservative People Power Party said the industry should be allowed to operate without regulations unless they have been explicitly prohibited. “To realize the unlimited potential of the [...]
SEOUL, Jan. 19 (Korea Bizwire) — Ruling party presidential candidate Lee Jae-myung said Wednesday he will institutionally recognize the virtual asset industry and guarantee various business opportunities. Lee of the Democratic Party made the remarks in a meeting with heads of the nation’s four major cryptocurrency exchanges and industry experts in Seoul, apparently targeting voters [...]
SEOUL, Oct. 22 (Korea Bizwire) — South Korea’s virtual asset service providers had a banner year in 2020, data showed Thursday. The income of businesses in the category of database and online information provision, which includes virtual asset service providers such as exchanges, totaled 13.9 trillion won (US$11.7 billion) last year, according to data that [...]