virtual asset Archives | Be Korea-savvy
Regulator to Introduce New Rules to Protect Virtual Asset Users

Regulator to Introduce New Rules to Protect Virtual Asset Users

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 [...]

Yoon Vows to Deregulate Virtual Asset Industry

Yoon Vows to Deregulate Virtual Asset Industry

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 [...]

Lee Vows Legalization of Virtual Asset Industry

Lee Vows Legalization of Virtual Asset Industry

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 [...]

Virtual Asset Service Providers Chalk Up 14 tln Won in Income Last Year

Virtual Asset Service Providers Chalk Up 14 tln Won in Income Last Year

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 [...]