News with the tag "Financial Services Commission"

Korea Exchange chairman Jeong Eun-bo recently pushed for the country’s approval of crypto exchange-traded funds (ETFs). Amid the country’s stock market crisis, he urged revamping South Korea’s financial industry to strengthen the market and compete with other nations. South Korea ‘Needs’ Crypto ETFs...

Upbit must respond to the FSC’s suspension notice by Jan. 20 or face restrictions on new registrations on the platform for six months.

South Korean regulators reportedly continue to discuss the approval of corporate crypto trading amid the country’s ongoing leadership crisis.

In a major update from South Korea, the Financial Services Commission (FSC) has expressed its desire to approve corporate investments in crypto assets. This marks a significant move for the crypto market, especially in South Korea where agencies are also contemplating strengthening the collaboration...

Upbit, the leading crypto exchange in South Korea, is being investigated by the country’s financial authorities over an alleged violation of Know-Your-Client (KYC) procedures. The probe comes amid the exchange’s license renewal process and a potential investigation for “anti-monopoly breaches.” Rela...

This Friday, the first South Korean crypto regulatory framework has gone into effect after the one-year preparation period. The new law requires firms in the country to comply with stricter requirements to protect investors and their assets. Related Reading: $235 Million Crypto Theft from WazirX Was...

A recent report revealed that the South Korean government is considering delaying the crypto gains taxation for a third time. Seemingly, investors in the country are growing concerned due to a lack of system and “market confusion.” Related Reading: Crypto Market Jolted By MakerDAO’s $1 Billion Inves...

The details of enforcing the Protection of Virtual Asset Users Act are not contained in the bill, which comes into force July 19.

South Korea will implement its first crypto act on user protection on July 19. As a result, the South Korean financial authority has notified nearly 30 registered exchanges to review the over 600 cryptocurrencies they listed on them. Under the new law, companies that fail to comply could face severe...

The latest reports coming from South Korea suggest that the country is all set to introduce stricter regulations against crypto market manipulation and illegal trading. If the amount of unfair profits derived from crypto profits exceeds 5 billion won, the violators can face up to life imprisonment. ...