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Bank Risk Assessment May Threaten Bithumb, South Korean Crypto Exchanges


South Korean banks are set to audit crypto exchanges’ senior managers as part of their due diligence and risk assessment protocols for real-name banking contracts – and there are concerns Bithumb officials may struggle to pass the checks due to previous and ongoing fraud allegations. Bank-conducted...

South Korean Government Continues to Scale Back Anti-Crypto Rhetoric


Statue of the Lying Buddha of Miamsa Temple in Naesan-myeon, Buyeo-gun, South Korea. Hong Nam-ki, the South Korean Deputy Prime Minister and the nation’s finance minister, has spoken about government plans to create more opportunities for young people – including on “domestic asset markets.” In...

Bank of Korea to Monitor Crypto Transactions Using Financial Records


South Korea’s monetary policy regulator, Bank of Korea, plans to obtain documents from financial institutions to track crypto transactions involving bank accounts. Cryptocurrency prices fluctuate independently from the real economy, the bank says, adding that market growth could pose a risk...

South Korean Political Heavyweight Lashes Out at Gov’t Crypto Policy


Ahn Chul-soo. Source: A screenshot, Instagram/ahncheolsoo The founder of a leading opposition party, the tech guru Ahn Chul-soo of the software giant and antivirus provider AhnLab, has hit out at the South Korean government’s crypto policy. Per Maeil Kyungjae, Ahn lashed out at the ruling...

South Korea: Interest in Crypto Equal Between Younger and Older Age Groups


The authors of a detailed report on the profile of crypto investors in South Korea have concluded that Crypto Fever 2.0 has been marked by a spike in interest among older age groups – with those in their 40s and 50s expressing a similar amount of interest in tokens as the ever-crypto-keen 20-39...

South Korean Parliamentary Advisory Body: Make a Central Crypto Regulator


A South Korean National Assembly-affiliated body has formulated a set of recommendations for further regulating the nation’s crypto industry, including the creation of a new government-run department for crypto-related matters. According to Herald Kyungjae and Chosun, the National Assembly Research...

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