Financial watchdog clarifies role amid South Koreas new crypto compliance crackdown

South Korea’s Financial Supervisory Service (FSS) has clarified its role regarding the rumored removal of numerous digital assets from local crypto exchanges On June 17, reports emerged that the FSS had instructed registered crypto exchanges, including Upbit, Bithumb, and Gopax, to evaluate several tokens on their platforms. This directive aligns with the Virtual Asset User […]

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US ETH ETF approval pressures Korean regulators

Unlike their U.S. counterparts, Koreas FSC and FSS have been cautious about allowing crypto trading on traditional securities markets.

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New Digital Assets Bill: South Korean Officials To Impose More Control Over Crypto Exchanges

South Korean officials are bringing out proposed amendments to the Digital Assets Bill in an effort to impose more control over cryptocurrency exchanges.  As reported by News1 Korea that to prevent another FTX disaster, Rep. Yoon Chang-Hyun, a People’s Power party member, drafted a proposal for an amendment that will increase the power of Financial […]

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Korean regulators investigate banks over $6.5B tied to Kimchi premium

South Korean financial regulators are looking into the massive amount of foreign remittances of cash that came from crypto exchanges.

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South Korean Regulator Plans to Discuss Crypto Rules With US SEC Chair Gary Gensler

South Korea’s financial watchdog chief is planning to visit the U.S. to discuss crypto regulation with the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, with a focus on the SEC’s recent decision to approve spot bitcoin exchange-traded funds (ETFs). He stressed that currently, the impact of SEC policies on the world [...]

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