The public can report unlicensed crypto exchanges to DAXA, which will review the reports and then pass them to KoFIU for further action.
December 7, 2023Regulations to implement the Virtual Asset Users Protection Act, which was passed in June, will be ready by January 2024.
October 20, 2023Upbit is South Korea's largest crypto exchange. The group also has regulated digital asset exchanges in Indonesia and Thailand.
October 17, 2023Korean crypto exchange will need to set aside reserves worth $2.3mn, or 30 percent of their daily average deposits, whichever is greater.
August 29, 2023The Cheongju City government has ordered seven crypto exchanges to submit a report on the crypto holdings of 8,250 people, who each owe over KRW 1 million in tax.
August 23, 2023KoFIU will strengthen inspections, impose sanctions for violations, and disclose the results of investigations to promote legal compliance.
July 30, 2023DAXA said the alert messages will be triggered by sudden price changes and spikes in trading or deposit volumes, among other indicators.
July 5, 2023Crypto firms still under a PSA exemption have to report the total number of "higher risk customers" they serve, such as PEPs and their close associates.
June 1, 2023Crypto holdings will be included under the private interests that members of the National Assembly need to report.
May 29, 2023The amendments, if passed, will require all public officials and candidates to disclose their crypto assets.
May 23, 2023