South Korea Archives

Terraform Labs founder Do Kwon defrauded investors, US SEC charges say

Business

Jon Southurst

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17 February, 2023

Terraform Labs founder Do Kwon defrauded investors, US SEC charges say

Terra founder Do Kwon's future is looking bleak as the U.S. SEC cements the allegations against him that resulted in...

South Korea new sanctions target North Korea’s digital asset hackers

Business

Wahid Pessarlay

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15 February, 2023

South Korea new sanctions target North Korea’s digital asset hackers

Apart from the four individuals sanctioned by South Korea for plotting and initiating cyberattacks, seven institutions were also penalized for...

South Korean authorities traveled to Serbia to arrest Terra’s Do Kwon

Business

Wahid Pessarlay

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11 February, 2023

South Korean authorities traveled to Serbia to arrest Terra’s Do Kwon

South Korean news outlets speculate that Do Kwon has been hiding out in Serbia since December 2022, but Terra’s fugitive...

South Korea broadens rules to determine which digital tokens are securities

Business

Wahid Pessarlay

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10 February, 2023

South Korea broadens rules to determine which digital tokens are securities

The new rules are designed to "prevent potential violations of the law" and protect investors' interests, according to the Financial...

Bithumb executive arrested in South Korea on embezzlement charges

Business

Wahid Pessarlay

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4 February, 2023

Bithumb executive arrested in South Korea on embezzlement charges

Bithumb owner Kang Jong-hyun denied accusations he embezzled over KRW60 billion from the company while his brother is being investigated...

South Korea financial watchdog eyes digital currency disclosure system for investor protection

Business

Wahid Pessarlay

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2 February, 2023

South Korea financial watchdog eyes digital currency disclosure system for investor protection

To heighten investor protection and increase market efficiency, South Korea plans a digital asset disclosure system that would operate on...

South Korea to set up ‘virtual currency tracking system’ to counter illegal activity

Business

Wahid Pessarlay

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1 February, 2023

South Korea to set up ‘virtual currency tracking system’ to counter illegal activity

The South Korea Ministry of Justice's proposed tracking system is designed primarily against money laundering activities and to assist in...

Business

Wahid Pessarlay

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31 January, 2023

Bithumb offices in South Korea raided over local tokens price manipulation claims

The prosecutors raided the Bithumb's offices to gather evidence on the allegations of price manipulations relating to local tokens Pixel...

South Korea: Prosecutors seek warrant to arrest Bithumb owner on fraud allegations

Business

Wahid Pessarlay

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28 January, 2023

South Korea: Prosecutors seek warrant to arrest Bithumb owner on fraud allegations

South Korean authorities say Kang Jong-Hyun was involved in stock price manipulation in Bithumb's affiliate companies like Vident, Bucket Studio,...

South Korea’s Busan to launch digital asset exchange by end of 2023: report

Business

Wahid Pessarlay

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25 January, 2023

South Korea’s Busan to launch digital asset exchange by end of 2023: report

Upon launch, the exchange system will offer deposit settlement and market monitoring services and will allow for proper listing evaluations.

South Korean court rules NFTs as speculative and not protected under legislation

Business

Wahid Pessarlay

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21 January, 2023

South Korean court rules NFTs as speculative and not protected under legislation

Gaming items converted to NFTs are considered "gifts prohibited under the Game Industry Act," and dealing with them equates to...

Seoul metropolitan unveils metaverse project to South Korea residents

Business

Wahid Pessarlay

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20 January, 2023

Seoul metropolitan unveils metaverse project to South Korea residents

Metaverse Seoul will offer the city's residents the chance to learn about South Korea's capital, visit tourist attractions, and have...

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