Crypto.com has postponed a planned launch in South Korea following a report by the local news outlet Segye Ilbo, which stated that the exchange platform was undergoing an “urgent on-site inspection” due to concerns over money laundering.
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Crypto.com has refuted reports from South Korean media that suggested a regulatory hurdle might delay its expansion in South Korea.
Crypto.com, renowned for its commitment to regulatory compliance, security, and privacy, and serving over 80 million customers globally, announced the launch of its app in South Korea. This move enables Korean retail users to engage in trading selected cryptocurrencies.
The extradition of Terraform Labs co-founder Do Kwon to South Korea has been temporarily halted due to a legal objection raised by the top prosecutor of Montenegro.
A Montenegro court decided on Thursday that Do Kwon, co-founder of Terraform Labs, will be extradited to South Korea instead of the United States, as previously sought.
Terraform Labs co-founder Do Kwon is set to be extradited to the United States to face fraud charges related to massive losses suffered by U.S. investors due to its algorithmic stablecoin collapse.
The current law, set to take effect in January 2025, taxes income from virtual assets beyond 2.5 million won (currently $1,870 USD) at 22%, including local tax, compared to a 50 million won exemption for equities income. This disparity has prompted calls for a more balanced approach to asset taxation, acknowledging the complexities of determining investment amounts and gains in the virtual asset market.
South Korea’s financial authorities are probing cryptocurrency exchange OKX for allegedly operating in the country without the required registration.
Han Chang-Joon, the former CFO of the now-defunct crypto firm Terraform Labs, has been extradited from Montenegro to South Korea. This follows the completion of his four-month prison sentence in Montenegro for attempting to travel with forged documents.
Binance, the world’s largest cryptocurrency exchange by trading volume, is set to decrease its stake in the South Korean crypto exchange GOPAX.
“Our OMS solution provides international firms like KBFG with the infrastructure to trade in the U.S. markets. The advanced order queuing in our OMS enables traders to place and receive orders any time, catering to international orders outside of U.S. trading hours.”
Huobi Korea, the Korean arm of cryptocurrency exchange HTX, announced its closure effective January 29. This decision, as stated in a recent announcement, is attributed to a challenging business environment.
The Financial Services Commission (FSC) of South Korea has proposed an amendment to the country’s credit finance act that reportedly prevents citizens from buying cryptocurrencies using credit cards, particularly on foreign exchanges.
South Korea’s government is set to make the cryptocurrency and other asset holdings of about 5,800 public officials available to the public. This new measure, which starts next year, is part of an effort to increase transparency in the government.
Montenegro’s High Court has greenlit the extradition of cryptocurrency entrepreneur Do Kwon, who faces fraud allegations in both the United States and South Korea. The decision, announced on the court’s website, now rests in the hands of the country’s justice minister to determine Kwon’s destination for extradition.
Team Blackbird, a Korean crypto services company operating the blockchain data and analytics platform CryptoQuant, has partnered with South Korea’s largest mobile phone company, SK Telecom (SKT), to launch a crypto wallet.
South Korea’s largest cryptocurrency exchange, Upbit, has secured in-principal approval for a major payment institution license from the Monetary Authority of Singapore (MAS).
KEB Hana Bank, one of South Korea’s largest banks, is entering the digital asset custody business through a strategic partnership with BitGo, a wallet infrastructure provider and digital asset custodian.
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