29 Crypto Exchanges Survive New Regulation in South Korea, 37 Exchanges Must Shut Down

29 Crypto Exchanges Survive New Regulation in South Korea, 37 Exchanges Must Shut DownThe deadline for crypto exchanges and service providers in South Korea to meet requirements to stay open under the new regulation has passed. Twenty-nine cryptocurrency exchanges met the deadline to continue operations but only four of them can offer trading in Korean won. New South Korean Crypto Regulation in Effect The Act on Reporting and […]

10 Crypto Exchanges File for Registration With Korean Regulators Ahead of Deadline

10 Crypto Exchanges File for Registration With Korean Regulators Ahead of DeadlineCryptocurrency exchanges in South Korea have until midnight on Friday to register with financial authorities in order to continue operating legally. Only 10 digital asset trading platforms have already submitted their documents to the Korean anti-money laundering body. Compliance Deadline for New Korean Crypto Regulations Expires Friday Registering with Korea’s Financial Intelligence Unit (FIU) is […]

Korean Province Seizes Cryptocurrencies From 1,661 Investors for Unpaid Fines

Korean Province Seizes Cryptocurrencies From 1,661 Investors for Unpaid FinesA South Korean province has seized cryptocurrencies worth over $5 million from 1,661 investors who were more than $12 million in arrears on their fines in total. The seizure followed an investigation of nearly 30,000 companies and individuals as well as their cryptocurrency holdings at four exchanges. Korean Province Confiscates Cryptocurrencies for Unpaid Fines The […]

Korean Government Says 28 Crypto Exchanges Have Met Regulatory Requirements to Continue Operations

Korean Government Says 28 Crypto Exchanges Have Met Regulatory RequirementsThe deadline for cryptocurrency exchanges to meet the requirements to continue operations under new crypto regulations in South Korea is rapidly approaching. A total of 28 cryptocurrency exchanges have reportedly been cleared by the regulators to remain open. However, only four crypto exchanges have met the requirements to offer trading in Korean won. 28 Cryptocurrency […]

FSC Regulatory Overhaul Expected to Shut Down 40 Crypto Exchanges in South Korea

FSC Regulatory Overhaul Expected to Shut Down 40 Crypto Exchanges in South KoreaA new regulatory overhaul could put 40 out of 60 exchanges out of business in South Korea after the firms are expected to fail to meet the conditions that are being proposed by the Financial Services Commission (FSC). This action might also affect holders of locally used “kimchi” coins, that won’t be able to trade […]