Bybit crypto exchange suspends services in South Korea
Amid the looming regulatory deadline in South Korea, a major crypto exchange is closing up shop in the country.
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DCG-backed Korean exchange faces closure if it can’t find banking partner
South Korean crypto exchange Gopax has told users if it can't resolve its banking difficulties before a looming regulatory deadline it will need to shut down.
Korean Finance Minister vows to fight moves to delay the crypto tax code
The ruling party is planning to attempt a postponement of the crypto tax laws but the Finance Minister is not for turning.
South Korean lawmaker: Delaying tax laws on crypto is ‘inevitable’
“In a situation where the relevant taxation infrastructure is not sufficiently established, the deferral of taxation on virtual assets is not an option, but an inevitable situation,” said Noh Woong-rae.
FSC Regulatory Overhaul Expected to Shut Down 40 Crypto Exchanges in South Korea
A new regulatory overhaul could put 40 out of 60 exchanges out of business in South Korea after the firms are expected to fail to meet the conditions that are…
Majority of Korean crypto exchanges to shut down this month, insiders say
Failure to meet South Korean regulators' new requirements is expected to wipe out tens of crypto exchange operators.
Major Korean Exchanges Secure Real-Name Account Arrangements With Local Banks
Leading cryptocurrency exchanges in South Korea have reached agreements with Korean banks to maintain the issuance of real-name accounts, media reports revealed. The deals, although not yet permanent, will allow…
Korean crypto ‘Jedi Master’ plans to launch second VC blockchain fund
Blockchain VC investment firm Hashed is seeking $173 million for a second fund.
Bithumb to Ban Foreign Traders Failing Mobile Phone Identification
South Korean crypto exchange Bithumb said it will deny access to foreigners unable to verify their identities via mobile phone. The decision comes as the trading platform moves to comply…
Bithumb crypto exchange reportedly bans foreigners without mobile KYC
Bithumb’s stricter KYC requirements come in line with South Korea’s tightened Anti-Money Laundering regulations regarding foreign users of crypto exchanges.