Under a new system being proposed, crypto exchanges will coordinate to stop trading in tokens that become excessively volatile within 24 hours.
June 20, 2022Regulators also plan to launch a 'Digital Assets Committee' this month to bring additional safeguards and regulatory structure to Korea's crypto industry.
June 5, 2022The FSC says thirteen relevant bills on digital asset investor protection are currently pending at the National Assembly.
May 26, 2022Korean crypto exchanges have been asked to share their data on UST and LUNA transactions including and the number of affected investors.
May 18, 2022Shinhan, through its partner exchange Korbit, will become the first Korean bank to allow businesses to invest in cryptocurrencies.
April 12, 2022The proportion of staff dedicated to AML compliance at Korea's crypto exchanges stands at around 8 percent.
March 5, 2022In all, 29 VASPs have been approved out of a total 42 that filed for registration by the 24 September deadline. Decisions on five entities are still pending.
December 24, 2021The applications will be processed within three months, following which approved exchanges will be subject to AML rules announced in March.
September 26, 2021Five crypto exchanges and one wallet provider have so far submitted their registration documents. Only Upbit has been formally approved by the FSC.
September 24, 2021Nearly 40 exchanges are set to suspend all services, while 28 have ISMS certification and can continue trading without the Korean won.
September 21, 2021