Enforcement of South Korean virtual assets law prescribed in decree

The details of enforcing the Protection of Virtual Asset Users Act are not contained in the bill, which comes into force July 19.

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Democratic Party of Korea Pushes for Reconsideration of Spot Bitcoin ETFs

The Democratic Party of Korea plans to request the Financial Services Commission to review its stance on the legal status of spot Bitcoin ETFs, following opposition to its previous statement. (Read More)

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New South Korean leadership will press for Bitcoin ETF trading

The Democratic Party of Korea promised to allow Bitcoin exchange-traded funds, and it expects to follow through one way or another.

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South Korea to Allow Crypto Sales by Nonprofits and Exchanges From June 1

Starting June 1, South Korea will let nonprofits and crypto exchanges sell digital assets under strict FSC rules to boost transparency and curb speculation.

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Top 5 South Korean Crypto Exchanges Reveal Compliance Strategies to Curb Illicit Activities

According to a statement published by the South Korean Financial Services Commission (FSC), the entity’s Korea Financial Intelligence Unit held a meeting with virtual asset service providers (VASPs) in order to strengthen regulatory compliance. The top five South Korean cryptocurrency exchanges including Upbit, Bithumb, Coinone, Korbit, and Gopax have created compliance systems to monitor illegal [...]

The post Top 5 South Korean Crypto Exchanges Reveal Compliance Strategies to Curb Illicit Activities appeared first on Crypto Breaking News.

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South Korea Grants Central Bank More Power Over Crypto

The Bank of Korea (BoK) has been given more power to investigate cryptocurrency service providers, including the ability to request transaction data from crypto exchanges. The move comes amid ongoing discussions on virtual asset legislation in South Korea, with the Financial Services Commission (FSC) holding the final say on the regulation of the digital asset sector. The two institutions have been at odds for several years over crypto regulations. (Read More)

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Bank of Korea given right to investigate local crypto firms: Report

The South Korean central bank will be able to access crypto transaction data from exchanges operating in the country.

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Report: Korean Central Bank to Gain Right to Probe Virtual Asset Entities After Financial Regulator Drops Opposition

The South Korean central bank is set to be granted the right to investigate virtual assets after the Financial Services Commission (FSC) dropped its opposition to the move. According to a report, the FSC dropped its opposition to the central bank’s bid after it was accused of seeking to make itself the country’s sole regulator

The post Report: Korean Central Bank to Gain Right to Probe Virtual Asset Entities After Financial Regulator Drops Opposition appeared first on BTC Ethereum Crypto Currency Blog.

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South Korea's FSC to Submit Two Crypto-Related Acts to National Assembly

According to Newsis on July 13, the People's Power Party and the Financial Services Commission of South Korea are planning to submit amendments to the Electronic Securities Act and the Capital Market Act to the National Assembly within this month. (Read More)

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S.Koreas Crypto ETF Ban Reevaluation: 61% Trade Volume Surge Red Flags

South Koreas Financial Services Commission (FSC) has announced a significant shift in its approach to cryptocurrency regulation. The FSC stated that it would reevaluate the ban on local spot cryptocurrency exchange-traded funds (ETFs) and institutional accounts on crypto exchanges. This decision comes as part of a broader discussion on digital asset policies through its newly […]

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Corporate crypto investments in South Korea inch closer to approval

South Korean regulators reportedly continue to discuss the approval of corporate crypto trading amid the countrys ongoing leadership crisis.

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Upbit crypto exchange receives suspension notice in South Korea

Upbit must respond to the FSCs suspension notice by Jan. 20 or face restrictions on new registrations on the platform for six months.

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