South Korea | ForkLog

ForkLog 19 24.06.2025

South Korea Proposes Replacing Dollar with Stablecoins

South Korea’s new administration plans to permit the issuance of stablecoins pegged to the national currency. This move aims to bolster the country’s independence from foreign assets, reports The Block. Min Byung-duk, a lawmaker responsible for digital assets in President Lee Jae-myung’s campaign team, has already proposed a bill for licensing stablecoin issuers. According to […]

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ForkLog 13 20.06.2025

South Korea Considers Approval of Spot Crypto ETFs

South Korean authorities have unveiled a roadmap for the approval of spot cryptocurrency ETFs, according to local media. Following these reports, the Financial Services Commission (FSC) clarified that details are yet to be finalized. According to media sources, the FSC has sent a document to the Presidential Policy Planning Committee. Measures for launching crypto ETFs […]

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ForkLog 17 28.05.2025

Arrests Made in Three Countries Over Bitcoin Extortion Allegations

Over the past week, law enforcement agencies in the United States, South Korea, and France have detained individuals suspected of targeting cryptocurrency holders for extortion. New York, USA According to AP, on May 27, a 32-year-old cryptocurrency entrepreneur from Miami, William Duplessis, surrendered to New York police. He faces charges of kidnapping, assault, unlawful imprisonment, […]

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ForkLog 13 21.04.2025

South Korea to Develop Stablecoin Regulations

The Bank of Korea (BoK) has announced its intention to “actively participate” in the creation of legislation regulating stablecoins. This was stated in a report. The BoK emphasized the need to minimize risks to the country’s financial and monetary stability. “Unlike other virtual assets, ‘stablecoins’ have the characteristics of a payment instrument. Their widespread use […]

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ForkLog 12 03.04.2025

South Korea Considers Opening Crypto Exchanges to Foreign Investors

South Korea may open its cryptocurrency market to foreign traders while tightening controls on money laundering. This was stated by Kim Seong-jin, head of the virtual assets department at the Financial Services Commission (FSC), according to local media. According to him, the regulator is exploring the possibility of easing restrictions on foreign market participants’ access […]

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ForkLog 12 26.03.2025

Google Play Blocks 17 Cryptocurrency Exchange Apps in South Korea

The Financial Intelligence Unit (FIU) of South Korea’s Financial Services Commission (FSC) reported the blocking of 17 foreign cryptocurrency exchanges on Google Play. Authorities expect this measure to prevent money laundering and potential harm to local users. The FIU confirmed that the requirement is linked to the “Act on Specific Financial Information.” Under this law, […]

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ForkLog 13 20.03.2025

Bithumb Offices Raided Amid Former Director’s Scandal

South Korean authorities have conducted raids on the offices of the cryptocurrency exchange Bithumb. The investigation focuses on the alleged misuse of corporate funds by the platform’s former director, Kim Dae-sik, to purchase a personal apartment. This was reported by local media outlet YTN. The case involves funds from a deposit for an apartment in […]

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ForkLog 16 19.03.2025

South Korean Prosecutors Seek 10-Year Sentence for Attacker of Haru Invest CEO

Prosecutors in South Korea have requested a 10-year prison sentence for the man who stabbed Haru Invest CEO Lee Hyun Soo, charging him with attempted murder. This was reported by local media. The attack on the head of the crypto company, accused of embezzling approximately $826 million from clients, occurred in August 2024 in a […]

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ForkLog 13 17.03.2025

Wemix Clarifies Delay in Disclosing $6.2 Million Hack

The South Korean Wemix Foundation delayed the disclosure of a significant $6.2 million hack to prevent market panic. The incident occurred on February 28, but was officially announced on March 4, according to Yonhap. The company’s CEO, Kim Seok-hwan, publicly apologized and stated that the decision was made to prevent further attacks and minimize consequences. […]

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ForkLog 9 17.03.2025

South Korea Dismisses Idea of Strategic Bitcoin Reserve

The Bank of Korea has “never considered” including Bitcoin in its foreign exchange reserves and views such a prospect “with caution,” according to Korea Economic Daily. The regulator clarified its stance in response to a query from a member of the National Assembly’s Strategy and Finance Committee. The primary deterrent cited by the South Korean […]

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ForkLog 6 10.02.2025

South Korean Authorities Accuse DeepSeek of Excessive Data Collection

South Korea’s intelligence agency has accused the Chinese AI application DeepSeek of “excessive” collection of personal information and using input data for self-learning. This was reported by Reuters, citing a statement from the authorities. The National Intelligence Service of South Korea (NIS) has already issued an official notice to government agencies, urging them to implement […]

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ForkLog 8 03.02.2025

Bitcoin’s ‘Kimchi Premium’ Hits Three-Year High

On February 3rd, the ‘kimchi premium’ on Bitcoin—a measure of price inflation on South Korean crypto exchanges—reached a three-year high, exceeding 11.9%. #Bitcoin Kimchi Premium is 12% right now—a three-year high. The main reason for BTC drop seems to be the strong DXY. pic.twitter.com/fjFOyUH5Pr — Ki Young Ju (@ki_young_ju) February 3, 2025 The widening price […]

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