News about SOUTH KOREA

News about South Korea

South Korean prime minister calls for disclosure of crypto holdings by high-ranking officials

Prime Minister Han Deok-soo reportedly believes that including cryptocurrency in property registration is the right thing to do. South Korean Prime Minister Han Deok-...

South Korean authorities raid Upbit, Bithumb crypto exchanges after political scandal

The raids came as a local lawmaker stepped down from politics amid accusations of allegedly selling millions in cryptocurrency before new laws were enforced. Prosecut...

South Korean lawmaker leaves political party amid crypto investment controversy

A lawmaker allegedly sold over $4 million in cryptocurrency prior to the country’s enforcement of the “Travel Rule” from the Financial Action Task Force. South Korean...

Samsung to research South Korea's CBDC for offline payments

The collaboration will have both parties researching the offline capabilities of the CBDC issued by South Korea’s central bank. Tech giant Samsung Electronics has repo...

South Korean Politician Quits Party Over Crypto Scandal

A member of the South Korean parliament is leaving his party amid mounting allegations of massive crypto investments inconsistent with his frugal public image. The controversy, which has caught the attention of the Korean society, involves accusation...

Do Kwon’s Woes Escalate As South Korea Freezes $176M Of His Assets

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South Korean lawmaker allegedly cashed out while legislating on crypto: Report

National Assembly member Kim Nam-kuk had authority in handling laws related to digital assets in South Korea, reportedly backing a bill proposing a 20% crypto gains tax be deferred....

South Korean Lawmaker Faces Investigation over Suspicious Crypto Transfers

South Korean prosecutors made an effort to probe a main opposition party lawmaker, Rep. Kim Nam-kuk of the Democratic Party, over some crypto transactions he allegedly made last year. However, they faced a stumbling block when the Seoul Southern Dist...

Bitcoin Enters Party Politics in South Korea - Trustnodes

Bitcoin Enters Party Politics in South Korea& & Trustnodes

Terra Founder Do Kwon Faces 40 Years in Jail If Convicted, South Korean Prosecutor Warns

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Do Kwon Could Face 40 Years in Prison if Extradited to South Korea

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Prosecutor says Do Kwon’s extradition to South Korea would best serve Terraform Labs’ victims: Report

The former Terraform Labs CEO could face 40 years in jail in South Korea, the country where he committed most of his crimes, according to local authorities. South Ko...

Prosecutors Push For Do Kwon’s Extradition To South Korea, 40-Year Sentence Possible

Summary: Do Kwon could face 40 years in prison if prosecuted and found guilty by a court in his home country of South Korea.Media reports confirmed that authorities in South Korea and the United States are contending over extradition rights afte...

South Korea’s sweeping crypto bill passes first regulatory hurdles

Legislators in South Korea passed a first-phase review of proposed cryptocurrency regulations that include relatively harsh sentencing recommendations. South Korean le...

Terra cofounder Daniel Shin charged with fraud in South Korea as former CEO Do Kwon still detained in Montenegro

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Report: Terraform Labs Co-Founder Indicted on Fraud Charges in South Korea

Recent local reports have brought to light that Shin Hyun-seong, also known as Daniel Shin, co-founder of Terraform Labs, has been indicted by the Seoul Southern District Prosecutors’ Office on charges of fraud. Along with nine others, Shin is...

Terra co-founder Daniel Shin charged with fraud in South Korea

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South Korea Grants Central Bank More Power Over Crypto

The Bank of Korea (BoK) has been given more power to investigate cryptocurrency service providers, including the ability to request transaction data from crypto exchanges. The move comes amid ongoing discussions on virtual asset legislation in South...

South Korean Court Clears Former Terraform Labs CEO of Security Violations

A South Korean court dismissed charges of security violations against former Terraform Labs CEO Hyun-seong Shin, ruling that LUNA is not a security under the country's Capital Markets Act. The court rejected the prosecution's appeal for confiscation...

South Korean Court Rules Terra Crypto Asset LUNC Is Not a Security

Amidst the allegations against Do Kwon, the co-founder of Terraform Labs, a recent report by the Korean Sunday News has revealed that the Seoul Southern District Court has ruled in favor of LUNA, now renamed LUNC, by stating that it is not a financia...

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