Global #South Korea

South Korean banks are steering clear of the escalating deposit rate competition among the nation's crypto exchanges. According to Daehan Keumyoong Shinmun, banks perceive no need to engage in the "deposit rate war" that exchanges have ignited in their quest for market dominance.

In a notable shift towards digital asset investments, South Korea’s National Pension Service (NPS) has acquired 245,000 shares of MicroStrategy, valued at $33.75 million, during the second quarter of this year.

As cryptocurrencies gain prominence, countries around the world are enacting diverse regulations to address the risks and opportunities of digital assets.

South Korea is implementing a new regulatory measure aimed at cryptocurrency operators in the country. Effective July 19, the Financial Services Commission (FSC) introduced the ‘Virtual Asset User Protection Act,’ which mandates a supervisory fee based on the operating revenue of South Korean crypto exchanges.

South Korea, a nation known for its fervent embrace of cryptocurrency, has finally launched its first comprehensive regulatory framework for the digital asset industry.

South Korea's crypto market is abuzz with activity, but one cryptocurrency is outshining the rest: Ripple's XRP. XRP has experienced a staggering 31% surge in recent days, leaving even the dominant Bitcoin in its dust.