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korean crypto exchanges

70% of Korean Crypto Exchanges Fail to Repay Customers After Closure, Regulator Says

70% of Korean Crypto Exchanges Fail to Repay Customers After Closure, Regulator SaysA joint research effort by Korean regulators — the Financial Supervisory Service (FSS) and Korea Financial Intelligence Unit (FIU) — has revealed that seven out of 10 cryptocurrency exchanges in South Korea failed to fully return investors’ money after ceasing operations. “And even if they did, just one or two employees were tasked with giving […]

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Korean Regulator Takes Action Against 16 Foreign Crypto Exchanges

Korean Regulator Takes Action Against 16 Foreign Crypto ExchangesThe South Korean financial intelligence unit is taking action against 16 foreign cryptocurrency exchanges for operating illegally in the country. “For illegal business activities of unregistered entities, maximum of 5 years of imprisonment or up to KRW 50 million of fines can be imposed,” the regulator said. 16 Foreign Crypto Exchanges Flagged by South Korean […]

All Eyes on Trump: Bitcoin Crash Could Pave the Way for a Historic Rebound in 2025

60 Cryptocurrency Exchanges in South Korea to Shut Down All or Some Services This Week

60 Cryptocurrency Exchanges in South Korea to Shut Down All or Some Services This WeekThe deadline for cryptocurrency exchanges and wallet operators to comply with the new regulatory requirements to stay open in South Korea is this week. So far, only one crypto exchange has been licensed to continue operations. About 60 crypto exchanges are expected to either shut down or reduce services. 60 Crypto Exchanges Expected to Shut […]

All Eyes on Trump: Bitcoin Crash Could Pave the Way for a Historic Rebound in 2025

Korean Government Says 28 Crypto Exchanges Have Met Regulatory Requirements to Continue Operations

Korean Government Says 28 Crypto Exchanges Have Met Regulatory Requirements to Continue OperationsThe deadline for cryptocurrency exchanges to meet the requirements to continue operations under new crypto regulations in South Korea is rapidly approaching. A total of 28 cryptocurrency exchanges have reportedly been cleared by the regulators to remain open. However, only four crypto exchanges have met the requirements to offer trading in Korean won. 28 Cryptocurrency […]

All Eyes on Trump: Bitcoin Crash Could Pave the Way for a Historic Rebound in 2025

Korean Regulator to Shut Down 11 Cryptocurrency Exchanges Ahead of Regulatory Deadline

Korean Regulator to Shut Down 11 Cryptocurrency Exchanges Ahead of Regulatory DeadlineSouth Korea’s top financial regulator will shut down 11 cryptocurrency exchanges allegedly engaged in fraudulent bank account schemes, local media reported. Meanwhile, the deadline for all crypto exchanges to comply with the country’s regulation is drawing near and most of them have not been able to meet the requirements. 11 Crypto Exchanges Could Be Shut […]

All Eyes on Trump: Bitcoin Crash Could Pave the Way for a Historic Rebound in 2025

Korean Crypto Exchanges Consider Suing Government Over Banking Requirements

Korean Crypto Exchanges Consider Suing Government Over Banking RequirementsAll cryptocurrency exchanges in South Korea except the largest four may be unable to meet the bank account requirements needed to stay in business. A number of Korean crypto exchanges are considering suing the government and financial authorities, claiming that the country’s crypto law is unconstitutional. A number of exchanges are currently considering filing a […]

All Eyes on Trump: Bitcoin Crash Could Pave the Way for a Historic Rebound in 2025