South Korea Archives

South Korea seeks to track, freeze North Korean digital assets with revised bill

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6 September, 2023

South Korea seeks to track, freeze North Korean digital assets with revised bill

The bill aims to cut the funding of Pyongyang's weapons programs through digital assets following the consultations of South Korean...

Digital currency exchanges in South Korea must have $2.3M in reserves starting September

Business

Wahid Pessarlay

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30 August, 2023

Digital currency exchanges in South Korea must have $2.3M in reserves starting September

New South Korean exchange rules: $2.3M reserves, KYC focus, and compliance rush before September deadline.

South Korea’s Cheongju wants to seize digital currency holdings from tax evaders

Business

Wahid Pessarlay

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30 August, 2023

South Korea’s Cheongju wants to seize digital currency holdings from tax evaders

Authorities in South Korea aim to recover unpaid taxes by seizing digital currencies from tax evaders in Cheongju via legal...

Naver Corp generative AI chatbot targets users in South Korea

Tech

Wahid Pessarlay

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29 August, 2023

Naver Corp generative AI chatbot targets users in South Korea

Naver Corporation introduces HyperCLOVA X, a generative AI chatbot proficient in the Korean language and culture, it can generate texts...

Terra co-founder Daniel Shin faces US probe on Terraform Labs links

Business

Wahid Pessarlay

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22 August, 2023

Terra co-founder Daniel Shin faces US probe on Terraform Labs links

The U.S. Securities and Exchange Commission and South Korean investigators are set to question Terra co-founder Daniel Shin about the...

South Korean prosecutors to use XRP ruling in Do Kwon’s securities fraud case

Business

Wahid Pessarlay

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13 August, 2023

South Korean prosecutors to use XRP ruling in Do Kwon’s securities fraud case

Prosecutors in South Korea plans to leverage the recent XRP ruling against Terraform Labs CEO Do Kwon's alleged securities fraud...

Bank of Korea eyes 3 cities outside of Seoul for CBDC pilot

Business

Wahid Pessarlay

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10 August, 2023

Bank of Korea eyes 3 cities outside of Seoul for CBDC pilot

As the CBDC pilot launch reveals challenges, plans, and cautious approach, Bank of Korea moves closer to test real-world applications...

India’s Supreme Court calls out absence of clear digital currency rules: report

Business

Wahid Pessarlay

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4 August, 2023

India’s Supreme Court calls out absence of clear digital currency rules: report

Surya Kant and Dipankar Datta, justices of the Supreme Court of India, have instructed the country’s legislative body to create...

South Korea: Regulator boosts support in fight vs digital currency bad actors

Business

Wahid Pessarlay

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4 August, 2023

South Korea: Regulator boosts support in fight vs digital currency bad actors

Lee Yoon-soo, head of the Financial Intelligence Unit, said the agency will improve its analysis of financial information linked to...

South Korea forms new unit to combat digital currency bad actors

Business

Wahid Pessarlay

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3 August, 2023

South Korea forms new unit to combat digital currency bad actors

South Korea intensified efforts to combat digital currency misconduct by introducing a specialized crime-fighting unit probing digital currency offenses like...

South Korean banks explore stablecoin alternatives as CBDC research picks up steam

Business

Wahid Pessarlay

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1 August, 2023

South Korean banks explore stablecoin alternatives as CBDC research picks up steam

As stablecoins face heightened scrutiny from regulators, South Korean commercial banks are in the race for a worthy alternative as...

South Korea hints at future CBDC in new financial report

Business

Wahid Pessarlay

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25 July, 2023

South Korea hints at future CBDC in new financial report

South Korea joins the growing list of countries exploring CBDCs, with its central bank unveiling plans to study and possibly...

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