South Korea's finance regulator has informally warned local asset managers to reduce their exposure to crypto exchange-traded funds (ETF) and U.S.-listed digital asset firms, according to a report by the Korean Herald. The Financial Supervisory Service (FSS) verbally told several firms to limit their exposure to Coinbase (COIN) and Michael Saylor's Strategy (MSTR), to comply … Read more
South Korea, despite its relatively pro-crypto stance, is trying to regulate the ways its residents interact and engage with virtual currencies. The Financial Services Commission (FSC) of South Korea is proposing to ban the purchase of cryptocurrencies via credit cards. The aim is to keep reducing the margin for notorious elements to misuse crypto assets … Read more
Samsung Galaxy Z Fold 7 and Galaxy Z Flip 7 were unveiled earlier this month during the company’s latest Galaxy Unpacked event. Now, early sales data from South Korea reveal a shift in buyer preference for foldable smartphones. Samsung’s Galaxy Z Flip lineup has historically dominated the brand’s foldable sales and pre-orders. For the first … Read more
South Korea is ramping up efforts to formulate rules to oversee the virtual digital assets sector, with the Financial Services Commission (FSC) spearheading the task of drafting these laws. Seoul’s new guidelines will result in regulators classify bulk or large scale non-fungible tokens (NFTs) as regular cryptocurrencies, under the Virtual Asset User Protection Act. South … Read more
The crypto exchanges operating in South Korea are said to be gearing up for an internal audit. As part of this process, over 600 cryptocurrencies will reportedly be re-examined to see whether they meet the regulatory standards laid out by Seoul. The aim is to protect South Korea’s investor community as well as its financial … Read more
South Korea is trying to rid its crypto sector off miscreants who are exploiting digital assets to facilitate illicit activities like money laundering. The country is conducting a crackdown on crypto activities that are coming across as suspicious or unusual on the crypto exchanges operating in the Asian nation. On Thursday, July 4, the Financial … Read more
South Korea has implemented its much talked-about “Virtual Asset User Protection Act” that defines the dos and don’ts for crypto firms, that wish to offer their services in the nation. This legal framework is aimed at controlling and eventually curbing the exploit of crypto assets for illicit activities like money laundering and terror financing. The … Read more
Jeju Island, a self-governing province in South Korea, will reportedly incorporate non-fungible tokens (NFTs) technology into its tourism strategy. According to a recent report by South Korean publication Maeil Kyungjae (MK), the island’s authorities are launching an NFT-backed initiative to boost tourism. Starting in 2025, they plan to introduce NFT-powered digital visitor cards offering exclusive … Read more
South Korea is collaborating with various internal authorities to develop its Web3 market. In a recent move, the Financial Services Commission (FSC) unveiled a roadmap to gradually integrate local corporations into the VDA market, which primarily consists of cryptocurrencies. Looking ahead, South Korea aims to assess the financial aspects of cryptocurrencies and foster sector growth … Read more
South Korea’s Financial Services Commission (FSC) has announced that it will be adding more layers to its crypto regulations over the next month. The guidelines for corporate firms’ participation in cryptocurrencies will be finalised by April, the FSC said Wednesday. The rules will allow professional investors and listed corporations to safely engage with virtual digital … Read more