Korea Crypto News

The country decided on the review after acknowledging that certain staking services overseas have been suspended, according to local news.

The classification of XRP in the US could broadly impact the classification of other altcoins as securities.

Korean authorities confirmed traveling to Serbia in search of Do Kwon last week, but did not comment further.

S. Korea will regulate certain digital assets as securities under the Capital Markets Act and allow STOs under the Electronic Securities Act.

The funding for the GOPAX acquisition was made from the $1 billion Industry Recover Initiative — a co-investment project led by Binance. 

Investigations revealed that Kang Jong-hyun is the brother of Kang Ji-yeon who is the head of Inbiogen-an affiliate that holds about 34.2% stake in Bithumb.

The accused individuals sent around $3.2B out of S. Korea under false pretenses, violating foreign exchange laws, to buy crypto abroad.

In the meantime, Huobi global's quarterly revenue fell -98% since the second quarter of 2021.

The National Tax Service opened a "special tax investigation" into Bithumb, including the individual Kang Jong-hyeon, who is alleged to be the company owner.

Huobi Korea chairman Jo Guk-Bong will buy the majority stakes from Huobi global founder Leon Lin.

Binance is in the process of acquiring Gopax, however, the South Korean exchange has about $471 million of customers' fund locked in Genesis.

Lee Jung-Hoon, who was accused of swindling $70 million from BK Group chairman Kim Byung-gun, was acquitted of all charges.

Binance is reportedly completing its acquisition of Korean crypto exchange Gopax after finishing due diligence.

North Korea is allegedly investing these funds into its nuclear missile program.

The BNB hackathon event will take place in South Korea, between Dec. 17 and 19.

Korean Ministry of Justice is asking Serbia to issue an arrest warrant for Terraform Labs founder Do Kwon.

As part of Busan's numerous efforts to embrace blockchain, the city has signed a business agreement with crypto exchanges, Crypto.com and Gate.io.

South Korea's Financial Services Commission will look into virtual asset exchanges and customers who hold significant portions of single-listed coins and stablecoins to prevent money laundering.