Global #South Korea

South Korea's financial regulator, the Financial Services Commission (FSC), has ordered a temporary suspension of all crypto lending services offered by local exchanges.

Tax officials in Jeju City, South Korea, have reportedly begun freezing and seizing cryptocurrencies from individuals who have not paid their taxes.

South Korea, under President Lee Jae-myung, has announced a major new initiative to boost its domestic cryptocurrency market through regulatory reform.

Asian markets are showing varied responses to the evolving crypto landscape, with Japanese companies taking contrasting stances on Bitcoin, Korean exchanges reporting mixed financial results, and Hong Kong regulators issuing a warning on stablecoins.

South Korea is set to revitalize its cryptocurrency market by moving away from its previously cautious approach. The nation's top regulator, the Financial Services Commission (FSC)

South Korean crypto custodian BDACS has launched regulated institutional custody for XRP, fulfilling a key part of its partnership with Ripple.

South Korean financial regulators are scrutinizing new crypto lending and margin trading services offered by the nation's two largest exchanges, Upbit and Bithumb.

South Korea is solidifying its position as a leading global crypto hub by proactively developing a comprehensive and robust regulatory framework for digital assets.

Shinhan Bank, South Korea's second-largest commercial bank, has taken a significant leap towards mainstream cryptocurrency adoption by integrating crypto services into its popular SOL mobile application.

The National Tax Service (NTS) of South Korea has officially announced that its residents are now required to declare virtual assets received as compensation from overseas entities as part of their comprehensive income.

A new survey reveals that more than half of South Koreans aged 20 to 59 have engaged in cryptocurrency trading, with one in four currently holding digital assets.

In a landmark move for South Korea’s financial and digital asset sectors, eight major domestic banks are preparing to launch a joint stablecoin project pegged to the Korean Won (KRW), according to a recent report from Economic Review.