Upbit subject to potential sanctions in South Korea
Upbit may face penalties for alleged South Korean financial regulation violations. Upbit, South Korea’s largest crypto exchange, may face sanctions from the nation’s Financial Services Commission for allegedly failing to comply with know-your-customer (KYC) and anti-money laundering rules. Last week, the platform received a procedural sanctions notice from the FSC’s Financial Information Analysis Institute, according […]
South Korea’s regulator issues suspension warning to Upbit over 700,000 KYC violations
South Korea’s regulator is about to suspend Upbit’s operations, citing the exchange’s failure to properly implement KYC processes. South Korea‘s financial regulator, the Financial Intelligence Unit, has notified Upbit, the country’s largest crypto exchange, of a potential suspension over violations of the KYC requirements and AML obligations, the Maeil Business Newspaper has learned. The report […]
Upbit crypto exchange receives suspension notice in South Korea
Upbit must respond to the FSC’s suspension notice by Jan. 20 or face restrictions on new registrations on the platform for six months. Source link
South Korea reports first crypto ‘pump and dump’ case under new law
South Korean authorities have indicted suspects for unfair crypto trading involving artificial price inflation and subsequent token dumping, known as a pump and dump. Source link
South Korea postpones decision on corporate crypto investments
The regulators focused on crypto investor protection and new stablecoin rules while postponing the question of corporate crypto trading. Source link
US, Japan, South Korea warn of rising North Korean crypto hacking threats
North Korea-affiliated hackers stole at least $1.34 billion worth of digital assets in 2024. Source link
US, Japan, and South Korea warn web3 firms about hiring IT workers from North Korea
In a joint statement, the U.S., Japan, and South Korea highlight the growing threat posed by North Korean cyber actors to the global crypto sector. The United States, Japan, and South Korea have warned the blockchain industry about North Korean cyberattacks that could destabilize the global financial system. In a joint public statement on Jan. […]
Corporate crypto investments in South Korea inch closer to approval
South Korean regulators reportedly continue to discuss the approval of corporate crypto trading amid the country’s ongoing leadership crisis. Source link
South Korea to allow institutional investors to trade crypto: report
South Korea considers easing restrictions on corporate crypto trading, with plans to gradually issue real-name accounts to institutional investors. South Korea is set to allow corporations to invest in cryptocurrencies as the Financial Services Commission is considering a gradual approach to lifting restrictions, Yonhap News Agency reports, citing the regulator. Under the plan, companies will […]
South Korea’s Lotte Group to leverage Arbitrum blockchain for its metaverse
South Korean conglomerate Lotte Group has tapped the Ethereum layer 2 network Arbiturm to enhance its artificial intelligence-driven metaverse platform, Lotte Caliverse. Announced at CES 2025, Arbitrum’s blockchain, with its 250ms block times, is described by Steven Goldfeder, CEO of Arbitrum developer Offchain Labs, as the “ideal home ground for Caliverse,” enabling “high-quality performance within […]
