Key Highlights: The Bank of Korea has initiated a stress-test survey evaluating how local financial institutions would withstand potential crises in the cryptocurrency sector, including market crashes and major exchange hacks. Major domestic lenders and digital banks, including KB Financial Group, Kakao Pay, and KakaoBank, continue advancing stablecoin and digital asset initiatives amid ongoing delays ...
Key Highlights: Financial Services Commission (FSC) Chairman Lee Eog-weon confirmed the comprehensive Digital Asset Basic Act is nearing completion and will soon be introduced to South Korea’s National Assembly. The upcoming legislation establishes licensing requirements for crypto exchanges, standardizes stablecoin operations, and creates clear statutory legal definitions for digital assets. Concurrently, South Korea’s planned January ...
Key Highlights: Senior South Korean finance and regulatory officials will convene with major domestic cryptocurrency exchanges on Tuesday to consult on crypto taxation. Representatives from leading exchanges including Upbit, Bithumb, Coinone, DigitalX, and Gopax, alongside executives from the Digital Asset Exchange Alliance (DAXA), are attending the meeting. The high-level discussions occur amid intensifying calls to ...
Key Highlights Meritz Securities has partnered with Ripple to integrate enterprise blockchain infrastructure into its domestic capital market operations. Major South Korean financial institutions, including Jeonbuk Bank, Kyobo Life Insurance, and Kbank, are adopting Ripple Payments and Ripple Custody across remittances, bond settlement, and digital asset wallets. The institutional wave aligns with the South Korean ...
Key Highlights: The Financial Services Commission of South Korea (fsckorea) is ramping up regulatory enforcement across virtual asset businesses. Firms must adhere to rigorous compliance standards under South Korea’s Special Financial Transactions Act to ensure market integrity. International regulatory bodies are observing South Korea’s enforcement actions, signaling a potential global shift toward stricter operational frameworks. ...
South Korean Retail Investors Lose $250 Million to Stock-Tip Chatroom Fraud in First Half of 2026 South Korean retail investors reported approximately $250 million in fraud losses connected to stock-tip chatrooms during the first six months of 2026, according to police data cited by Reuters on September 16. Authorities investigated 3,506 cases involving 336 billion ...