Global #South Korea

South Korea's cryptocurrency exchanges are actively preparing for the implementation of stricter investor protection rules scheduled to take effect in July 2024.

South Korea, a global leader in technological innovation and a significant player in the cryptocurrency market, is exploring the use of artificial intelligence (AI) to curb the persistent problem of pump and dump schemes in the crypto world.

A recent survey has revealed that a significant portion of South Korean university students are actively investing in cryptocurrency. The findings indicate that 40% of respondents have invested in cryptocurrencies, with Bitcoin, Ethereum, and altcoins being the most popular choices.

South Korea is taking a stricter stance on cryptocurrencies with the implementation of the Virtual Asset User Protection Act. This new law prioritizes user safety and aims to create a more regulated crypto environment.

In a surprising turn of events, South Korean lawmakers are reportedly considering the abolishment of the country's nascent cryptocurrency tax law. The tax, initially slated to come into effect in 2025, has been a point of contention within the nation's crypto community and political sphere.

Upbit, the largest cryptocurrency exchange in South Korea, has declared its endorsement of additional trading pairs for Taiko (TAIKO). This move aims to enhance the accessibility of the budding cryptocurrency by introducing TAIKO trading on the KRW, BTC, and USDT markets.

Despite the recent approval by the US Securities and Exchange Commission (SEC) for several spot Ethereum ETFs, South Korean investors are still waiting for similar opportunities to arise.

Bithumb, the second largest cryptocurrency exchange in South Korea, has revealed the addition of new trading pairs for Arweave (AR) and Ethereum Name Service (ENS) with the Korean won (KRW).

Korean regulators are facing growing pressure to approve cryptocurrency exchange-traded funds (ETFs) following the recent approval of spot Ethereum ETFs by the United States Securities and Exchange Commission (SEC).

Upbit, the biggest cryptocurrency exchange in South Korea, unveiled the introduction of OAS, a token linked to its Oasys platform, aimed at bolstering both USDT and BTC markets.

Bithumb, a prominent cryptocurrency exchange in South Korea, revealed its intentions to introduce Bonk (BONK) and Zeta Chain (ZETA) to the Korean won market commencing May 16, 2024.

South Korea's National Tax Service (NTS) revealed that it has sold off crypto assets worth over $800,000, which were previously seized from individuals involved in tax evasion.