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The Digital Asset Exchange Alliance (DAXA), a consortium consisting of five South Korean cryptocurrency exchanges (Upbit, Bithumb, Korbit, Coinone, and GoPax), has announced the implementation of a cryptocurrency alert system starting from July 4th. The system has been developed by…
In Korea, consumers have experienced ongoing harm due to the suspension of deposit and withdrawal services by certain cryptocurrency deposit service providers. This situation has raised concerns about the safety of staking, which may initially seem similar to deposit services.…
On June 13, Haruinvest, a cryptocurrency deposit service with over 80,000 users, abruptly ceased accepting deposits and withdrawals, causing widespread concern among its customers. Delio, which initially claimed to be unaffected by the suspension of Haruinvest’s services, reversed its stance…
Binance is currently encountering regulatory obstacles in multiple authorities, including Canada, the United States, and Nigeria. On June 5th, the U.S. Securities and Exchange Commission (SEC) filed charges against Binance and its CEO, Changpeng Zhao, for alleged violations of…
The police are collaborating with Binance to establish a system for criminal investigations, building upon the existing “virtual asset exchange verification system” with major domestic exchanges. They will convene at the “Virtual Asset Exchange Practical Conference” to discuss practical measures…
Coinone is a cryptocurrency exchange that prioritizes the enhancement of its advanced anti-money laundering (AML) system. From the outset, they recognized the significance of AML and implemented various measures to address it. These measures included establishing competent bodies, developing domestic…
The prosecution is taking significant steps to develop its own tracking system specifically designed for “Kimchi coins,” which are coins traded exclusively on domestic exchanges. With the rise in cryptocurrency-related cases and the prevalent use of Kimchi coins in domestic…
The South Korean coin scandal involving lawmaker Kim Nam-kook is now impacting cryptocurrency exchanges. During the transfer of Kim’s Wimix coins from Bithumb to Upbit, Upbit reported a suspicious transaction to the Financial Intelligence Unit (FIU) under the Financial Services…
The possession of billions of won worth of virtual assets by Democratic Party of Korea lawmaker Kim Nam-kook has revealed flaws in the property reporting system for public officials, prompting both ruling and opposition parties to quickly revise the Public…
The Bank of Korea has confirmed the success of its Central Bank Digital Currency (CBDC) linkage experiment in a real-world environment, which involved conducting a research project with 14 banks and financial payment centers to test the operating environment of…