Address
5F, 526 Nonhyeon-ro,
Gangnam-gu, Seoul, Korea
The Financial Supervisory Service (FSS) is establishing two new bureaus, the ‘Virtual Asset Supervision Bureau’ and the ‘Virtual Asset Investigation Bureau,’ dedicated to overseeing and regulating the virtual asset market. This decision comes ahead of the implementation of the ‘Virtual…
1. Background: Kraken’s Regulatory Challenges Since 2013, Kraken has emerged as a key player in the burgeoning crypto market, enabling the trading of various crypto assets. However, its operations have attracted the SEC’s attention due to non-compliance with securities laws.…
EasyCrypto, a New Zealand cryptocurrency exchange, and Labris, an Australian blockchain developer, have joined forces to introduce a stablecoin called NZDD, backed by the New Zealand dollar. This stablecoin is secured by cash reserves in banks, maintaining a 1:1 value…
A North Korean hacking group named Kimsuky compromised over 500 transit servers in South Korea and internationally, seizing control of more than 1,000 South Koreans’ email accounts. The National Police Agency’s National Investigation Bureau traced Kimsuky’s activities, confirming the hijacking…
The Financial Supervisory Service (FSS) is establishing a new specialized bureau solely focused on supervising, inspecting, and investigating virtual assets. This bureau aims to be the world’s first authorized team to probe market manipulation within the virtual asset space. Discussions…
The Chinese government has declared that the theft of data-related digital collectibles, including Non-Fungible Tokens (NFTs), will be treated as a crime of illegally obtaining and stealing computer information system data. The announcement recognizes digital collections as “virtual property on…
South Korea is set to join the OECD’s initiative to expand the Crypto Asset Repository Framework (CARF), as announced by the Ministry of Strategy and Finance. This move aligns Korea with 48 other countries, including major players like France, Germany,…
The United States and South Korea conducted their fifth meeting of the Working Group on Countering North Korean Cyber Threats in Washington, D.C., on June 6-7. Their discussions centered on coordinating efforts to combat illicit cyber activities from North Korea. The…
Sam Bankman-Fried, founder of FTX cryptocurrency exchange, has been found guilty of multiple charges, including theft of billions of dollars in subscriber funds. He could face a maximum of 115 years in prison. FTX, once a top global exchange, went…
The Korean National Tax Service is conducting a thorough tax investigation into coin operators who encouraged high-risk coin futures investments via private broadcasts and failed to report the referral income they earned from foreign exchanges. They have identified 105 suspected…
