South Korean Financial Regulator Confirms Privacy Coin Delistings- Adds New G...
South Korean financial watchdogs are about to start overseeing crypto-related activities in the nation, and additional barriers for exchanges keep appearing. Moreover, one of the South Korean regulatory bodies codified the measures announced last year on privacy coin listings. No Major Domestic Exchanges Can List a Privacy-Centric Crypto-Asset According to Electronic Times, the Financial Services Commission’s Financial Intelligence Unit (FIU) confirmed that all privacy coins would be delisted from the domestic cryptocurrency exchanges. The watchdog argued that difficulties in....
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South Korea is deliberating on four crypto-related bills for the regulation of cryptocurrencies. “We are currently doing groundwork by searching for and analyzing data on 578 coins that have various forms,” the chairman of the country’s top financial regulator reportedly said. South Korea Prepares to Regulate Crypto Industry The South Korean National Assembly’s National Policy Committee is currently deliberating on four cryptocurrency-related bills for the regulation of crypto businesses and protection of investors, Business Korea reported Wednesday. The....
The South Korean financial intelligence unit is taking action against 16 foreign cryptocurrency exchanges for operating illegally in the country. “For illegal business activities of unregistered entities, maximum of 5 years of imprisonment or up to KRW 50 million of fines can be imposed,” the regulator said.
16 Foreign Crypto Exchanges Flagged by South Korean Regulator
South Korea’s top financial regulator, the Financial Services Commission (FSC), announced Thursday that the country’s financial intelligence unit (KoFIU) has notified investigative....
Following the South Korean government’s determined push to support and encourage Fintech development, announced in late October, the country’s Fintech startups are looking to gain a foothold in China. Five South Korean Firms and interested business partners in China were a part of a pitch made today by the firms in Beijing, according to the Korea Herald. The event, titled “Fintech Demo Day in Beijing”, was funded by the South Korean government and saw the country’s industry startups showcase technologies such as a mobile wallet, biometric identification, and a robo-adviser, among other....
Regional reports disclose South Korea’s Financial Services Commission (FSC) had a closed-door meeting with roughly 20 different cryptocurrency exchanges on June 3. The report highlights that virtual asset business operators (VASPs) that attended the meeting all had ISMS (Information Security Management System) certification. South Korean Regulator Holds a Closed-Door Meeting With 20 VASPs A report stemming from D.Street who quoted undisclosed sources stated the South Korean FSC met with 20 “small and medium-sized exchanges in South Korea” to discuss the cryptocurrency....
The Financial Supervisory Service of South Korea will lead government efforts to oversee the country’s expanding cryptocurrency market. The agency has been tasked with the job after prolonged discussions over which Korean regulator should be responsible for the industry. Financial Supervisory Service Takes Responsibility for Crypto Sector in Korea It took the government months to determine who’s going to take charge of crypto market oversight, the Korean Herald noted in an article published this weekend. The executive power in Seoul announced Friday that the task has been....