Earlier this year, top financial heads of the G20 country had a discussion for cryptocurrencies and their role in the global economy.
At that time, the leaders pledged for having “unified regulations” towards the functioning of digital currencies.
South Korea, a member nation of the G20 is now planning to relax some laws and rules to cooperate with the G20 directives.
The FSC has recently unveiled new anti-money-laundering and know-your-customer rules for crypto exchanges which will come into next week onwards from July 10.
We believe an increase in adoption will come when crypto-assets can be used as actual currencies rather than just speculative investments.”
The SEC said that it has made revisions to its rules to apply strengthened policies in order to prevent or detect money laundering and illegal activities because they aren't opposed to cryptocurrencies.
South Korean regulators plan to lift a nine-year ban on corporate crypto investments as the country continues to warm up to the digital asset space. South Korea’s Financial Services Commission has reportedly crafted new guidelines for listed corporations and professional…
Most breaches involved failures in customer due diligence and identity verification processes. The action coincides with reports of a potential majority acquisition by Mirae Asset. The case reinforces stricter regulatory expectations across South Korea’s crypto sector.
According to reports, Mirae Asset Group is in advanced talks to buy Korbit, South Korea’s long-running crypto exchange, in a deal valued at about 100 billion to 140 billion won — roughly $70 million to $100 million.
Hyundai Group’s Seoul offices were evacuated after an email threatened explosions unless a Bitcoin ransom was paid, authorities and media reports said. Related Reading: Hoskinson Warns Trump’s Crypto Push Could Backfire On The Industry The message demanded 13 Bitcoin — roughly $1.
Bitcoin Magazine
‘Pay 13 Bitcoin or We Blow It Up’: Hyundai Bomb Threat Shakes South Korean Offices
Hyundai Group evacuated staff from two Seoul offices after receiving a bomb threat email demanding bitcoin.
South Korea boasts one of the most reliable crypto audiences in the world. But when it comes to actually sticking around on-chain, that attention drops off fast.