News list for " Korea"
According to South Korean media NEWSIS, South Korean prosecutors asked the court on Thursday to extend Yoon's detention.
On January 22, according to Cointelegraph, South Korea's largest cryptocurrency exchanges Upbit and Bithumb will compensate users for losses caused by the network failure in December 2023, with a compensation amount of 2.40 million US dollars, which is the largest compensation in the history of South Korean cryptocurrency exchanges.
Kim Byung-hwan, chairperson of South Korea's Financial Services Commission (FSC), said he plans to announce his position on allowing businesses to invest in virtual assets (cryptocurrencies) as soon as possible, while also expediting preparations for the stablecoin regulatory system and the second phase of legislation.
According to News1, Kim Byung-hwan, chairperson of the South Korean Financial Commission, said on allowing legal persons to invest in virtual assets: "The content of the legal person account was omitted from the press release issued by the Virtual Asset Commission (meeting) last week. So there is speculation whether it will not be advanced, but it is not the case. Since the committee has discussed the relevant content before, we will determine the position and announce it as soon as possible." H...
South Korean crypto exchanges Upbit and Bithumb have decided to compensate investors in the amount of about 3.50 billion won ($2.40 million) for losses caused by the network outage on December 3, the day South Korea declared martial law. Upbit will pay 3.10 billion won (approx. $2.20 million) for 596 incidents of system failure, while Bithumb will pay 377.50 million won (approx. $264,000) for 124 incidents. No other exchanges have related cases. This incident is the most affected user in the his...
A Reuters poll showed 25 economists said the Bank of Korea would cut the base rate by 25 basis points to 2.75 percent on Feb. 25.
The cybercrime investigation unit of the local police department in Busan, South Korea, has filed a non-detention indictment against a gang accused of laundering about 1.10 trillion won (about $756.80 million) through a fake cryptocurrency trading platform used by illegal gambling websites, the Korea Daily reported. The gang allegedly made about 10 billion won (about $6.88 million). From January 2022 to September 2023, they operated five offices in South Korea, developed fake trading websites an...
On January 20, according to Yonhap News Agency Infomax, in order to avoid the recurrence of the transaction connection delay problem caused by the computer system failure encountered by various crypto exchanges in South Korea after the country declared a state of emergency on December 3 last year, Dunamu, the operator of the South Korean cryptocurrency exchange Upbit, as well as Bithumb and Coinone, submitted a response plan to the Financial Supervisory Service (FSS) last month. A key measure in...
South Korea's detained president, Yoon Seok-yeok, has become the first president in South Korea's constitutional history to be formally detained in a detention center as a sitting president after completing the relevant procedures such as taking photos of the suspects. Unlike when he was arrested, Yoon Seok-yeok, who is a suspect, needs to go through various procedures for admission, including changing his private clothes into prison clothes and holding a detention number plate to take photos of...
On January 19, according to South Korean media reports, the Seoul Western District Court in South Korea approved the detention order for the arrested President Yoon Seok-yuk in the early morning of the 19th. Yoon Seok-yuk became the first president in South Korea's constitutional history to be detained as a sitting president.
On January 19, the Korean authorities found that Upbit had more than 500,000 KYC violations, and the fine could be as high as 34.30 billion US dollars. Previously, the Korean financial authorities informed Upbit that it would face suspension for rectification.
On the 19th local time, the Western District Court of Seoul, South Korea, approved the detention order for Yin Xiyue. Yin Xiyue was officially arrested. (CCTV News)
South Korea's Financial Services Commission (FSC) has reported its first case of unfair trading under the Virtual Asset User Protection Act, which came into effect in July 2024 and requires local virtual asset service providers (VASPs) to report unusual trading and investigate unfair trading patterns. According to the FSC, the suspect used a "pump and dump" technique to manipulate the market, artificially inflating the price of a cryptocurrency by initiating multiple payers, and then selling a l...
The Bank of Korea unexpectedly kept interest rates unchanged at 3%, and market expectations fell to 2.75%.
The Bank of Korea unexpectedly kept interest rates unchanged at 3%, while market expectations fell to 2.75%. (Kim Ten)
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