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South Korea

South Korea: Bithumb ordered to pay damages over service outage in 2017
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19 January, 2023

South Korea: Bithumb ordered to pay damages over service outage in 2017

The Supreme Court has ordered Bithumb to pay KRW251.4 million (US$202,400) to over 100 disgruntled investors, with each of the...
Paycoin in a race to secure banking partnership after South Korea license suspension
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19 January, 2023

Paycoin in a race to secure banking partnership after South Korea license suspension

Paycoin, whose token is used in South Korea for payments, was ordered to secure a bank partner or have its...
South Korea: Bithumb under probe yet again over tax evasion
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14 January, 2023

South Korea: Bithumb under probe yet again over tax evasion

The South Korean National Tax Service believes that Bithumb may have been engaged in tax evasion, an offense punishable by...
Huobi Korea wants to sever link with Huobi Global, plans to change name: report
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12 January, 2023

Huobi Korea wants to sever link with Huobi Global, plans to change name: report

Huobi Korea's move comes after multiple consultations with employees and relevant stakeholders, which it says "is a plan to strengthen...
The global metaverse hub: Why South Korea is investing $200M in its metaverse ecosystem
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5 January, 2023

The global metaverse hub: Why South Korea is investing $200M in its metaverse ecosystem

South Korea announced in 2022 that it was investing KRW224 billion in the metaverse, and as the year unfolded, the...
Bithumb ex-chairman not guilty of fraud charges by South Korean court
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5 January, 2023

Bithumb ex-chairman not guilty of fraud charges by South Korean court

The court's decision to absolve Lee Jung-Hoon comes a week after Bithumb's biggest shareholder was found dead while under investigation...
South Korea: Top executives of scam V Global exchange convicted
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31 December, 2022

South Korea: Top executives of scam V Global exchange convicted

Convicted employees of the now-defunct V Global exchange have risen to seven, with two C-level executives being the latest to...
North Korea behind over half of digital asset thefts in South Korea: report
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28 December, 2022

North Korea behind over half of digital asset thefts in South Korea: report

South Korea reports an average of 1.18 million cyberattacks daily from international gangs, with 55% found to be organized by...
South Korean court confiscates $92M in assets linked to Terra tokens
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23 December, 2022

South Korean court confiscates $92M in assets linked to Terra tokens

The assets were obtained from Kernel Labs—a firm close to Terra—and according to court documents, Kernel Labs’ CEO Kim Hyun-Joong...
South Korea ‘metaverse’ province eyes expansion in Vietnam
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23 December, 2022

South Korea ‘metaverse’ province eyes expansion in Vietnam

In a meeting at the Korea-Vietnam Economic Forum, Gyeongbuk Governor Lee Cheol-woo unveiled the province’s ambitious plans to use the...
South Korean regulators mull over new listing procedure following WEMIX’s delisting
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15 December, 2022

South Korean regulators mull over new listing procedure following WEMIX’s delisting

Both the Financial Services Commission (FSC) and the Financial Intelligence Unit (FIU) are pushing for the listing of new tokens...
Terraform Labs co-founder Do Kwon reportedly hiding out in Serbia, authorities say
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14 December, 2022

Terraform Labs co-founder Do Kwon reportedly hiding out in Serbia, authorities say

It remains unclear why Kwon chose Serbia, but South Korean authorities are not ruling out the possibility that the embattled...