South Korea’s election is scheduled for 3 June. Candidates propose legalising Bitcoin and crypto ETFs. Lee Jae-myung of the Democratic Party and Kim Moon-soo from the People Power Party are leading with pro-crypto proposals. With over 15 million digital asset investors—nearly a third of the country’s population—crypto has emerged as a decisive issue in the […]
The South Korean Financial Services Commission (FSC) will mandate non-profit organizations and cryptocurrency exchanges to comply with a strict customer verification process from June. In an official release, the country’s top financial regulator announced that these entities will be allowed to sell digital assets under the new regulations. Non-profits are allowed to sell cryptos that
South Korea’s opposition leader, Lee Jae-myung, proposed launching a won-backed stablecoin on May 20 to stem the 56.8 trillion won ($40.8 billion) crypto outflow and reduce dependence on foreign stablecoins like USDT and USDC. The Democratic Party presidential candidate’s broader digital asset strategy also includes legalizing spot crypto ETFs and allowing institutional crypto investments under
Will Lee Jae-myung’s Won-Backed Stablecoin Stem Korea’s $40.8B Crypto Outflow? Read More »
Key Takeaways: Hwang Jung-eum admitted to embezzling ₩4.34B ($3.1M) from her own agency to invest in crypto. SBS Plus removed her from the final episode of “Because I’m Single.” Hwang has begun liquidating assets to repay the money ahead of a second hearing in August. South Korean actress Hwang Jung-eum has been removed from a
South Korean Actress Hwang Jung-eum Admits to $3.1M Crypto-Driven Embezzlement Read More »
Leading legal and financial experts have cautioned political leaders that stablecoin adoption plans pose a danger to the South Korean economy. Per the newspaper Chungnyun Ilbo, experts say that US dollar-based stablecoins could have an impact on exchange rates and fiat currencies. Stablecoin Danger for South Korean Economy? The comments came at a digital assets-themed
South Korean Experts Warn Seoul of Mounting ‘Stablecoin Danger’ Read More »
South Korean authorities have dismantled a sprawling crypto investment scam ring that deceived dozens of victims by posing as financial experts and promising high returns. The Jeju Metropolitan Police Agency announced the arrest of 25 individuals connected to four separate criminal organizations behind the elaborate scheme, local media outlet yna reported. According to officials, the
25 Arrested as South Korean Police Crack Down on Multiple Crypto Scam Rings Read More »
In a historic shift for South Korea’s political and financial scene, all three major presidential candidates in the upcoming June 3 election have declared support for Bitcoin exchange-traded funds (ETFs) and institutional investment in virtual assets, according to a report by Yonhap News Agency cited by CryptoQuant. All three major South Korean presidential candidates support
South Korean crypto exchange deregulation proposals could affect the nation’s banking industry, dealing a blow to the likes of K Bank, reports have claimed. South Korea’s Financial Post reported that the Democratic Party, the National Assembly’s biggest party, is currently “considering” issuing a manifesto promise to ditch existing fiat on/off banking rules. Crypto Exchange Deregulation
South Korean Crypto Exchange Deregulation Plans Set to Rock Banking Sector Read More »
Key Takeaways: By establishing a dedicated Digital Asset Committee, the Democratic Party is making crypto regulation a defining issue in South Korea’s upcoming presidential election. The committee includes academics, industry experts, and exchange representatives, showing a rare blend of government and private sector input in shaping national digital asset laws. With ambitions to place the
Is South Korea’s Digital Asset Committee About to Redefine Crypto Regulation? Read More »
South Korean presidential candidates and their supporters have clashed on the topic of stablecoins as crypto-related policies continue to dominate the political agenda. On May 8, frontrunner Lee Jae-myung, of the Democratic Party, said that South Korea “needs to create a won-based stablecoin market.” Lee Jae-myung insisted that Seoul should “enter the stablecoin market quickly”
South Korean Presidential Candidates Clash in Bitter Stablecoin Row Read More »
