Key Highlights South Korean cryptocurrency exchange Bithumb is investigating a recent cybersecurity incident to determine whether customer details were compromised. Bithumb confirmed that client digital assets remain safe because internal workplace systems are completely segregated from the core trading engine. The intrusion comes amid a broader surge of cyberattacks against South Korean financial institutions, impacting ...
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: LG CNS is collaborating to utilize Chainlink’s cross-chain capabilities to enable stablecoin distribution and cross-network transfers of tokenized money. South Korea stands as Asia’s second-largest cryptocurrency market, with the Korean won ranking second only to the U.S. dollar in global crypto trading volumes. While Chainlink boasts partnerships with institutions like Swift, Euroclear, Mastercard, ...
Key Highlights: LG CNS has partnered with Chainlink to establish technical standards and compliant blockchain infrastructure for South Korea’s financial institutions. The collaboration focuses on enabling cross-network interoperability, integration of real-world data, and advancing tokenized securities. LG CNS continues to expand its digital asset footprint, serving as the lead contractor for the Bank of Korea’s ...
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 South Korean authorities are imposing access restrictions on unregistered foreign cryptocurrency platforms targeting domestic investors, including KuCoin and MEXC. Under local regulations, foreign virtual asset providers must register with the Financial Intelligence Unit (FIU) if they provide Korean-language support, target local marketing, or offer Korean won settlements. While accounts are not automatically frozen, ...
Key Highlights: South Korea’s Financial Intelligence Unit (FIU) has flagged 44 unregistered virtual asset service providers to investigative authorities, with plans to block mirror domains. Domestic regulators warn that investors on unauthorized exchanges risk losing access to their assets, as capital outflows hit roughly $110 billion in 2025. Industry body DAXA is coordinating with the ...
Key Highlights: KuCoin faces operational uncertainty in South Korea as domestic regulatory interventions raise questions regarding platform access and user activity. Trading volume on the global digital asset exchange is currently not reported, pointing to a potential slowdown or pause in trading engagement. South Korea’s Financial Intelligence Unit (FIU) continues to enforce stringent oversight aimed ...
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. ...
Key Highlights: Jeonbuk Bank is launching South Korea’s first-ever bitcoin-backed loans denominated in Korean won. The bank will not hold the collateral directly, utilizing registered domestic virtual asset custodians and third-party liquidation frameworks to mitigate direct exposure. The service represents an initial milestone in Jeonbuk Bank President Park Chun-won’s strategic “Crypto Bank” initiative. South Korean ...
Key Highlights: Jeonbuk Bank is rolling out corporate bitcoin-backed lending by leveraging revised Civil Enforcement Rules that permit court-ordered recovery without requiring the bank to hold direct custody of the digital assets. The South Korean lender established a digital-asset valuation model and ran stress tests on bitcoin, choosing the cryptocurrency for its high market capitalization, ...