Key Takeaways South Korea’s Ministry of Small and Medium Enterprises(SMEs) and Startups has proposed an amendment to its startup law that would allow crypto firms to qualify as venture companies. The legislative notice, released on July 9, 2025, outlines a…
Key Takeaways The Bank of Korea has formally suspended preparations for the second phase of its central bank digital currency (CBDC) pilot, halting a project that had been scheduled to proceed in the final quarter of 2025. Participating banks were…
Key Takeaways South Korean lawmaker Min Byeong-deok, a member of the ruling Democratic Party, has introduced a new legislative proposal aimed at tightening crypto oversight. The proposed bill, titled the “Digital Asset Basic Act,” was unveiled during a press conference…
Key Takeaways A high-stakes crypto transaction in a Seoul hotel ended in a violent attempted robbery, leading to the arrest of one Russian national and an international manhunt for two others. As per local media reports, South Korean police have…
Key Takeaways The Democratic Party of Korea formed a new committee called the Digital Asset Committee, which is tasked with addressing regulatory challenges and supporting the growth of the crypto sector in South Korea. The committee held its inaugural meeting at…
Key Takeaways Upbit, a leading crypto exchange in South Korea has received temporary relief from a regulatory suspension that restricted it from onboarding new clients. A South Korean court approved an injunction delaying the Financial Intelligence Unit’s (FIU) three-month ban…
Key Takeaways South Korea’s Financial Services Commission (FSC) has initiated discussions on the second phase of its crypto regulatory framework, aiming to address gaps in the existing system and enhance investor protection. This was a key agenda item at the…
Key Takeaways South Korean lawmaker Kim Nam-kuk is facing potential imprisonment over allegations of failing to disclose crypto holdings during mandatory asset declarations in 2021 and 2022. Prosecutors have requested a six-month prison sentence for Kim, citing concerns over transparency…
Key Takeaways On October 10, during a National Assembly audit, South Korean lawmaker Lee Kang-il expressed concerns about the overwhelming market dominance of Upbit, the country’s largest cryptocurrency exchange, and its close partnership with K-Bank, an internet-only bank. Lee warned…
Key Takeaways The South Korean Ministry of Economy and Finance is evaluating new measures to regulate cross-border transactions involving stablecoins and other virtual assets. The ministry highlighted that while stablecoins are currently used mainly within the cryptocurrency ecosystem, they could…
