Bitcoin price eyes $65K breakout as BTC exchanges reserves fall to 2018-lows

Decreasing reserves mean a decline in Bitcoin supply for selling, altcoins purchasing, and margin trading. Bitcoin's (BTC) ongoing price rally above $64,000 has coincided with a substantial drop in its reserves across all exchanges.According to data provided by CryptoQuant — a South Korea-based blockchain analytics service — the amount of Bitcoin held in exchanges' wallets dropped to as low as 2.379 million BTC earlier this week, the lowest in more than three years.

Opposing Political Party Suggests One Year Delay on South Korea’s Crypto Tax Law: Report

The opposition party in South Korea wants to postpone the cryptocurrency taxation rules to January 1st, 2023.

Will South Korea delay bill dealing with tax on crypto gains

Crypto traction within South Korea has seen a significant surge in recent times.

USD 1.8M Worth of Crypto & Fiat Remains in Limbo in South Korea

s of exchanges were forced to close on September 25 after the nation imposed some of the strictest rules in the world on trading platforms.

CBDC a 'high possibility' in South Korea, first test could take place before December

In the crypto sector, South Korea enjoys quite a bit of fame thanks to its "Kimchi Premium" and large alt coin market.

Rise in illegal crypto transactions, as efforts for stricter regulations ramp up in South Korea

South Korea has been witnessing a surge in the use of cryptocurrencies in illegal foreign exchange transactions.

No deferral on taxation law, South Korea to tax crypto gains 2022 onwards

As the laws are getting stricter in South Korea, tax filings in the country will also include crypto earnings from 1 January 2022, as per local reports.

South Korean crypto tax delay thwarted

The crypto tax will begin for South Koreans in 2022 but some industry observers say there is no cause for concern. Lawmakers in South Korea settled a long political battle on Sept.

South Korea: Crypto-exchange Upbit to begin ID verification, others to follow suit

South Korean authorities have managed to implement the new regulations regarding cryptocurrency exchanges in the country.

South Korean Regulators Deserting Jobs for Posts in Crypto, Fintech and Finance

e workplaces of the gods” in South Korea.

More Crypto Regulation May Be on its Way in South Korea, Japan

strengthen the monitoring of crypto exchanges” to ensure that they return customer deposits in a timely manner and follow other regulatory protocols.Koh was speaking to reporters after meeting with the heads of eight policy and financial institutions at Seoul, where he discussed crypto a...

29 Crypto Exchanges Survive New Regulation in South Korea, 37 Exchanges Must Shut Down

The deadline for crypto exchanges and service providers in South Korea to meet requirements to stay open under the new regulation has passed.

'Big four' South Korean crypto exchanges survive despite restrictions

h2: 'Big 4' coin exchanges in South Korea stand strong 29 of the 66 South Korea-based crypto exchanges had rushed to meet a stipulated regulatory deadline on 24 September.

South Korean Taxman to Be Granted Right to Search Crypto Tax Evaders’ Homes

oins could be liquidated – and bailiffs could be sent to search their houses.Crypto is not yet taxable in South Korea, but as of January 1, 2022, all crypto profits above USD 2,100 will need to be declared, and traders will be

10 Crypto Exchanges File for Registration With Korean Regulators Ahead of Deadline

Cryptocurrency exchanges in South Korea have until midnight on Friday to register with financial authorities in order to continue operating legally.

Over 2.2M Crypto Accounts Set to Trade With Restrictions in South Korea as Exchange’s Deadline Looms

As the South Korea crypto registration deadline looms, over 2 million accounts will be subject to restrictions in trading on multiple exchanges.

60 Cryptocurrency Exchanges in South Korea to Shut Down All or Some Services This Week

The deadline for cryptocurrency exchanges and wallet operators to comply with the new regulatory requirements to stay open in South Korea is this week.

Korean Government Says 28 Crypto Exchanges Have Met Regulatory Requirements to Continue Operations

The deadline for cryptocurrency exchanges to meet the requirements to continue operations under new crypto regulations in South Korea is rapidly approaching.

Over 60 South Korean Crypto Exchanges to Shut Down Next Week

More than 60 crypto exchanges in South Korea will be shutting down next week and they have until midnight today to inform their users. 

South Korea: With 60 exchanges set to close, here's what awaits investors

South Korean exchanges have only a week to register and comply with new regulations that will soon come into effect.

Bybit crypto exchange suspends services in South Korea

Amid the looming regulatory deadline in South Korea, a major crypto exchange is closing up shop in the country. Bybit, one of the world’s top cryptocurrency derivatives exchanges, will halt some of its services to South Korean users ahead of a licensing deadline.The exchange officially announced on Friday that it will discontinue Korean language support from its platforms as well as its official South Korean community on social media.

South Korea May Have to Postpone Crypto Taxation, Lawmaker Declares

A push from one of the South Korean top lawmakers may stir the postponement of the crypto taxation billed to commence on January 1, local media reported.

South Korea postpones proposed crypto-taxation policy to next year

South Korea is a curious case study.

South Korea to Delay Cryptocurrency Taxation Laws: Report

The Democratic Party of Korea intends to pass a bill that could delay the taxation of cryptocurrency investors.

Traders in Korea Could Lose Billions This Month As Regulatory Crackdown Deadline Approaches: Report

Crypto traders in South Korea could reportedly lose assets worth more than $2.6 billion as the country’s digital asset exchanges stare down the barrel of impending regulations that could have a large impact on the crypto industry.

Harvest Holidays Could Wreak More Crypto Exchange Havoc in South Korea

is time, the entire nation will effectively shut down, much as is the case during Christmas holidays in Western Europe and North America.That leaves just six working days before September 24, the end of the regulatory Financial Services Commission's six-month grace period for crypto exchanges...

South Korea Strengthens the Supervision of Crypto Exchanges,Nearly Two-thirds of Exchanges Forced to Close with $2.6B in Losses

Financial Times reported the South Korean Financial Services Commission (FSC) has begun to tighten the supervision of local and overseas cryptocurrency trading platforms in South Korea, resetting a new deadline on September 24.

South Korea braces to curb 'sharp increase' in illegal, crypto-linked activities

The time period given to South Korean cryptocurrency exchanges, for registering with the required authorities is almost over.

South Korea's 'big four' crypto-exchanges secure real-name account deal

Bithumb, Coinone, and Korbit, three of South Korea's most-prominent crypto-exchanges, have finally met the country's regulatory conditions and reached deals with banks before the 24 September deadlineThe post South Korea's 'big four' crypto-exchanges secure real-name account deal appeared first on AMBCrypto.

Major Korean Exchanges Secure Real-Name Account Arrangements With Local Banks

Leading cryptocurrency exchanges in South Korea have reached agreements with Korean banks to maintain the issuance of real-name accounts, media reports revealed.

South Korea: Four Exchanges Safe but USD 2.6B Closure Storm Brewing

To do so, they need to fulfill a number of criteria, including securing information security management system (ISMS) certification and real-name authenticated banking contracts for their customers.

South Korea grants security certificate to the first crypto-trust company

Regulation and compliance is the name of the game if a company wants to succeed in the current legal environment around the cryptocurrency industry.

Crypto.com Appoints Former Visa Country Manager Patrick Yoon in Charge of South Korea Operations

Cryptocurrency exchange Crypto.com appointed Patrick Yoon, former Visa country manager, as the general manager of the South Korea region to be in charge of the market in South Korea and Mongolia.

Huobi: NFT wallet-backed TALK price jumps 15,900% during 3rd primepool event

Amid the success of community initiatives on the Huobi platform, TALK, a new token from Talken, a multi-chain decentralized NFT wallet founded in South Korea, began trading on Huobi Primepool on AugusThe post Huobi: NFT wallet-backed TALK price jumps 15,900% during 3rd primepool event appeared first on AMBCrypto.

South Korea exchanges Bithumb, CoinOne, Korbit join forces to de'CODE' regulations

Amid South Korea's growing regulatory woes, Bithumb, CoinOne, and Korbit, three of the nation's four largest cryptocurrency exchanges have joined hands to tackle these challenges.

South Korea: Crypto exchanges Upbit, Bithumb, Coinone attract millions of users

While several crypto-related businesses in South Korea were having a tough time due to controversial regulatory efforts in the country, Upbit has been able to retain its title as the country's largesThe post South Korea: Crypto exchanges Upbit, Bithumb, Coinone attract millions of users appeared first on AMBCrypto.

South Korea: Crypto-bank decries lack of 'clear authoritative interpretation'

The Special Provisions Act is set to come into effect from 25 September in South Korea and this has left many exchanges panicking.

24 Crypto Exchanges to Close in South Korea – and 18 More Could Follow

Only a third of South Korean crypto exchanges have met the “minimum requirements” to register with the financial regulator ahead of next month’s deadline – with 24 already all but confirming they will close.

A Crypto ‘Coin Run’ Could Be Brewing in South Korea

A leading South Korean media outlet and industry experts have warned that a “coin run” could take place next month as the likelihood of a mass of crypto exchange closures increases. In a video report, the national broadcaster KBS reported that a glut of crypto liquidations could be on the cards in the coming weeks as scores of exchanges shut up shop. The South

Upbit Becomes the First Exchange to Register with FIU as September Deadline Looms

Upbit has now registered with FIU as other exchanges move to follow this lead before the September 24 regulation deadline.

South Korea: Regulators turn a deaf ear to crypto-exchanges' woes

In a bid to regulate the cryptocurrency industry, South Korean regulators had given cryptocurrency exchanges time till 24th September to register with the authorities to continue to function, however,The post South Korea: Regulators turn a deaf ear to crypto-exchanges' woes appeared first on AMBCrypto.

South Korea Crypto Sector Face Headwinds over Stricter Legal Regulations Challenges ahead

Crypto sectors and retail investors face a tough time as the finical regulators in South Korea are about implementing tougher and stricter administrative measurements to supervise the crypto industry.

‘Nerve-wracking’ Wait for S Korean Crypto Investors, 70% of Crypto Firms’ Sites Down

Fear appears to be taking hold of crypto investors in South Korea, with just over a month before key regulations come into force, exchanges seemingly woefully underprepared for a raft of new policing measures – and the majority of registered crypto companies’ websites offline or inaccessible. As reported earlier this week, zero out of over 30 exchanges that were

Crypto Exchange Bitfront Said to End Korean Services Ahead of Tough New Regulations

US-based crypto trading platform Bitfront is going to discontinue services in South Korea before stricter rules for the industry are enforced in September, Korean media reported.

Binance Discontinues Crypto Products and Services in South Korea

On August 13, the cryptocurrency exchange Binance revealed it is ending a great number of services in South Korea.

Ripple and GME Remittance Join Forces for Immediate Payments from South Korea to Thailand

GME Remittance would now be able to establish a financial bridge between South Korea and Thailand by operating on Ripple's network.

South Korea's Top Remittance Payment Company Global Money Express Joins RippleNet to Expand Payments into Thailand

Ripple has established a connection with Global Money Express, Korea’s top non-bank remittance payment company to link with Thailand’s Siam Business Bank.

Korbit Reopens Offline Customer Service Center in Seoul’s Busy Gangnam

Trading volumes may have dipped recently at crypto exchanges in South Korea and regulatory issues continue to plague the industry, but some trading platforms are staying positive – and the nation’s first-ever exchange has taken the bullish step of reopening its flagship bricks-and-mortar customer service center. Korbit opened its customer center in April 2018, but closed it in

South Korean Banks Earns More Than Double Revenue from Crypto Transactions in Q2

Despite heavy fluctuations in the cryptocurrency market in the second quarter of this year, South Korean banks enjoyed a sharp increase in revenue from crypto transaction fees.

Samsung to join Kakao for offline trials of South Korean CBDC

South Korea has been taking big steps towards the development of its central bank digital currency [CBDC].

Bitget Launches its Russian Version: Another Leap Towards Globalization

The derivatives exchange Bitget announced a new Russian version to provide both trade services and customer support in the Russian language — another crucial globalization initiative following its entry into Japan, South Korea, and the Southeast Asia market last year.

South Korea Narrows Down 11 Cryptocurrency Exchanges To Shut Down

The Financial Services Commission, the top financial regulator in South Korea, is supposedly staging a closedown for some cryptocurrency exchanges.

11 South Korean Cryptocurrency Exchanges to Shut down Amid FSC Inspection: Report

Several cryptocurrency platforms in South Korea will reportedly halt their operations as they run their businesses without the necessary licensing.

South Korean regulator to reportedly shut down 11 crypto exchanges

Sources claim that several mid-sized crypto exchanges in South Korea will be unable to get approval from the FSC. South Korea’s top financial regulator, the Financial Services Commission, is reportedly planning to shut down a dozen local cryptocurrency exchanges amid fraud allegations.The FSC will suspend operations of at least 11 mid-sized crypto exchanges in South Korea due to alleged illegal activities and fraudulent collective accounts, local news agency The Korea Herald reported Sunday.

South Korean Watchdog Uncovers 14 Fake Bank Accounts Used by Crypto Exchanges

The South Korea financial regulator has uncovered 14 fake accounts used by crypto exchanges.

South Korea Proposes Law Allowing Direct Seizure and Sale of Crypto Assets to Pay Overdue Taxes

The South Korean government has proposed an amendment to the tax code to allow the country’s tax authority to seize and sell cryptocurrencies belonging to delinquent taxpayers.

South Korea to amend tax laws for addressing tax evasion by crypto investors

Cryptocurrency investors in South Korea may have to revisit their tax filings to include crypto earnings as the laws get stricter.

New rules could permit Korean gov’t to seize tax evaders’ crypto

South Korea examines ways to expand its tax base, with proposals to strengthen the government’s ability to seize tax evaders’ crypto assets directly from their personal wallets. South Korean legislators propose to revise tax codes so that tax authorities would be able to confiscate tax evaders’ crypto assets directly from their digital wallets.As per a report published on July 26, the proposal forms part of a wider, annual review of the country’s tax system.

South Korea: KFIU's notice to 27 foreign crypto-exchanges fuels shutdown concerns

South Korean regulators are ramping up measures to protect its citizens from fraudulent activities carried on by foreign crypto-projects.

South Korea to take action against unregistered crypto exchanges

Crypto exchanges operating in the country that do not register by September 24 face potential fines or even jail time. The South Korean government announced today that crypto exchanges will face punishment if they have not voluntarily registered with the country’s authorities by September 24.This new set of regulations will reportedly affect both exchanges based in South Korea and foreign exchanges that operate in Korean markets.

Crypto Exchanges Have to Register with South Korea Regulator by September or Risk a Ban

Cryptocurrency exchanges operating in South Korea could face severe penalties if they fail to register with the FSC by late September.

South Korea's central bank chooses Kakao's Ground X for digital currency project

South Korean tech giant Kakao Corp.'s blockchain arm Ground X is in the news today after it was chosen for running experiments for Bank of Korea's digital currency. The central bank of South Korea The post South Korea's central bank chooses Kakao's Ground X for digital currency project appeared first on AMBCrypto.

South Korea: Bithumb's latest severance of ties casts shadow on recent regulations

Crypto-regulations recently introduced in South Korea have created a slew of problems for companies in the space.

South Korean Regulator Analyzing 578 Cryptocurrencies

South Korea is deliberating on four crypto-related bills for the regulation of cryptocurrencies.

South Korean regulators demand this from foreign exchanges

The financial regulators in South Korea have asked the exchanges based outside the country to register with the anti-money laundering body if they were using the Korean Won.

South Korean Bank Woori Financial to Offer Crypto Custody Services

Woori Financial Group, one of the biggest financial conglomerates in South Korea, will offer crypto custody services.

South Korea: Here's the dilemma exchanges are facing

Although the government tried to regulate the space, new rules have added to the woes of the crypto businesses in South Korea.

Woori Financial Group To Provide Cryptocurrency Custody Services

South Korean Woori Financial Group has announced that it will establish a digital asset custody joint venture with Korean blockchain developing company Coinplug.

Get Paid for Excrement: This Eco-Friendly Toilet Pays You in Digital Currency

An eco-friendly toilet that pays people in digital currency for using it has been installed at a university in South Korea.

‘Poopcoin’: Korean professor uses bio-waste to mine crypto

Students in a South Korean college are earning crypto mined from the energy generated from their excrement. “Shitcoin” may no longer be solely a term used to describe altcoin projects with questionable value propositions, as one South Korean university professor has taken the term to a more literal dimension.Cho Jae-weon of the National Institute of Science and Technology in Ulsan, South Korea, has created an eco-friendly toilet system that produces fertilizer and energy from human excrement.Jae-weon, a professor of urban and environmental engineering, said the toilet system incorporates a vacuum pump that redirects human waste into an underground tank to produce biogas (methane).The professor’s experiment is reportedly utilizing the biogas to power a university building, gas stoves and water heaters among other things.

Korean investigation finds $1.48B in illegal overseas crypto transactions

More than 30 people are facing fines and prosecution in South Korea for allegedly contravening the country’s ban on overseas crypto transactions. An interagency investigation into suspected crypto fraud and money laundering in South Korea has led to the discovery of 1.69 trillion won (about $1.48 billion) in illegal overseas cryptocurrency transactions.According to The Korea Times, 33 people have been implicated by the Seoul Central Customs for contravening the country’s ban on overseas crypto trading.

South Korea Investigates 33 Individuals for Illicit $1.5 Billion Crypto Transactions

The South Korean authorities have cracked down on 33 suspects who allegedly managed illegal overseas transactions with digital assets worth $1.48B.

Young Koreans' debt soars as they turn to crypto, stocks and real estate

Millennials and Gen Z in South Korea have been struggling to survive an economy characterized by high asset inflation and suppressed wages. Household debt for younger Koreans — those born from the 1980s onward — has surged to $22.7 billion, up from $3.9 billion from last year. Data from South Korea's Financial Supervisory Service (FSS), released today by Representative Kim Han-jeong of the Democratic Party of Korea, reportedly indicates that the high levels of lending are attributable to an increase in investments in cryptocurrencies, stocks and real estate.While millennials and Gen Z accounted for roughly 34% of total household debt in Korea in 2019, that figure grew to 45.5% by 2020 and is now at 50.7%.

S Korean Regulator to Banks: Stop Grumbling About Crypto Market Risk

A leading South Korean regulatory chief has repeated calls for banks to stop complaining about absorbing crypto exchange-related risks and accept that any partnerships they undertake with trading platforms must be done so at their own peril. As previously reported, banks in South Korea have stated with increasing certainty that they think only four trading platforms – almost

Prosecutors Indict Bithumb Owner on USD 88M Fraud Charges

The majority owner of the South Korea crypto exchange giant Bithumb, Lee Jung-hoon, has been indicted on a USD 88m fraud wrap over a failed altcoin token listing controversy – and could also face a civil case from investors in Hong Kong. Per Yonhap, domestic prosecutors have decided to press ahead with a case that began as a civil complaint to police from a group of

South Korean Shinhan Bank joins Klaytn’s blockchain governance council

Apart from participating in the co-governance process of Klaytn, Shinhan Bank will also be involved in the development of Klaytn-based digital services. Shinhan Bank, one of the largest banking institutions in South Korea, has entered into a partnership with Klaytn, a global blockchain platform developed by Kakao subsidiary Ground X.According to a Monday announcement, Shinhan Bank has joined Klaytn’s blockchain governance council, becoming a member of the co-governance of the Klaytn blockchain.

South Korean Crypto Exchange Execs Arrested Amid USD 2B Fraud Fears

Police in South Korea said they fear that the crypto exchange V Global could be at the center of a fraud network that has sucked in some USD 2bn, as investigations into the platform intensify and police officers raided the exchange’s offices. Per Seoul Shinmun and Hankook Ilbo, police claim that some 52,000 customers may have been affected.

South Korea: Bithumb, Upbit, other exchanges join hands to respond to 'travel rule'

Four of South Korea's most prominent cryptocurrency exchanges are in the news today after they announced the signing of an MOU to establish a joint venture to respond to the "travel rule" of crypto-asThe post South Korea: Bithumb, Upbit, other exchanges join hands to respond to 'travel rule' appeared first on AMBCrypto.

Why South Korea's 'Kimchi coins' are in trouble

With changing regulatory landscape in South Korea, it has been getting tough for the cryptocurrency exchanges to comply.

Dexlab Raises $1.44M To Make Launching on Solana Easy

June 30, 2021 – Seoul, South Korea Token minting platform Dexlab has completed a private funding round to create a gateway to the Solana ecosystem.

Dexlab Raises $1.44M to Develop Solana Gateway and Token Launchpad

[PRESS RELEASE – Seoul, South Korea, 30th June 2021] Token minting platform Dexlab has completed private funding round to create a gateway to the Solana ecosystem.

South Korea Top Four Crypto Exchanges Launch Joint Venture To Abide By AML Regulations

The heads of Bithumb, Korbit, Coinone, and Upbit signed a memorandum to form a company with a system, which will enable them to adhere to anti-money laundering regulations.

Korean Crypto Exchanges Consider Suing Government Over Banking Requirements

All cryptocurrency exchanges in South Korea except the largest four may be unable to meet the bank account requirements needed to stay in business.

South Korean Exchanges Might Sue the Government: Report

Smaller cryptocurrency exchanges in South Korea may sue the government because of unfavorable regulations.

Crypto exchanges could sue Korean gov't for ‘passing the buck‘ to banks

With many crypto exchanges in South Korea now on a precipice as a new regulatory framework kicks in, some are threatening to sue the government over its alleged shirking of key responsibilities. With the implementation of new rules from South Korea’s Financial Services Commission (FSC), many smaller cryptocurrency exchanges in the country fear they will be forced to shut down. These rules require that each exchange must prove it has a real-name account held at a Korean bank by Sept.

Korean Banks to Be Relieved of Liability for Crypto-Related Crime, Report Suggests

Banking institutions in South Korea have reportedly requested to not be held accountable for crimes linked to cryptocurrencies such as money laundering.

South Korea Seized $47M Worth of Crypto From Wealthy Tax Dodgers

12,000 Korean tax evaders parted with $47 million worth of cryptocurrencies following a government action against them.

Crypto-keen South Korean Thieves Raid GPUs from ‘Love Hotel’ PCs

Criminals have hatched a fiendish plan to help them build up their token portfolios – by stealing graphics cards from PCs in South Korean “love hotels,” motels that cater to couples craving physical intimacy. Love hotels can be found all over South Korea and across the sea in Japan – and provide short-term accommodation to young, mostly unmarried couples, although older

South Korea Authorities Seizes $47M in Crypto from Tax Evaders

South Korean authorities have made the largest crypto seizures in the country's history.

Klaytn death cross debut coincides with a 57% KLAY price pump

Klaytn bulls ignored a deadly moving average crossover after assessing KLAY's upcoming listing on Binance. Bids for Klaytn's native cryptocurrency KLAY spiked on Thursday after the South Korea-based public blockchain project confirmed its listing on Binance, one of the world's top cryptocurrency exchanges by volume.#Binance Will List @klaytn_official $KLAYhttps://t.co/41yyLvHS0I— Binance (@binance) June 24, 2021 The KLAY/USDT exchange rate surged 41.25% to an intraday high of $1.243.

South Korean Exchanges Delist More Altcoins to Meet Banking Requirements

Crypto exchanges in South Korea continue to delist more altcoins from their platforms as the deadline for partnering with banks draws nearer.

Authorities in South Korea Seize $47M in Crypto From Tax Evaders

12,000 people in South Korea had their cryptocurrencies confiscated in the largest cryptocurrency seizure for back taxes in Korean history.

South Korea Mulls Singapore-style Approach to Crypto Regulation

Singapore. The South Korean financial regulator is looking to Singapore for inspiration as it forms new crypto sector policies, sparking anticipation that it may look to adopt a similar system. Singapore is known for having one of the most progressive approaches to crypto regulation in the world, and its crypto exchanges are policed by the central bank and chief

Korean Exchanges Delist High-risk Coins as They Face Tough Regulations

Crypto trading platforms in South Korea are delisting certain digital currencies as they move to comply with stricter rules for the industry.

Upbit Delists Cryptocurrencies as Regulatory Deadline Approaches in South Korea

South Korean cryptocurrency exchange Upbit announced that five cryptocurrencies will be delisted.

South Korea’s small crypto exchanges face increasing regulatory heat

Stringent regulatory policies in South Korea could force many small- and medium-sized crypto exchanges out of the country. Authorities in South Korea are continuing to propose and enact measures aimed at maintaining strict oversight over the nation’s crypto exchange market.

Cryptocurrency Exchanges in South Korea to Be Classified as Highly Risky

Cryptocurrency exchanges operating in South Korea will be classified as highly risky organizations, the local regulator has decided.

Korean banks will need to classify crypto exchange clients as ‘high risk’

A further tightening of cryptocurrency regulation in South Korea is underway, with new rules for banks and crypto exchange operators. New rules announced by South Korea's Financial Services Commission, or FSC, are expected to affect around 60 unauthorized cryptocurrency exchanges in the country and a new policy for banks will require that they classify any crypto exchange clients as “high risk.”According to the Korea Times, the new guidelines were announced on Sunday and are intended to ensure that crypto exchanges strengthen their monitoring of transactions and uphold strong user ID requirements.

South Korea To Ban Exchange Insiders from Trading on Own Platforms

The top South Korean financial regulator is set to launch a fines system for insider trading, and will move to block exchange staff from using their own platforms to perform crypto trades. Per Chosun, the regulatory Financial Services Commission (FSC) is “pushing” the government to accept its plan to impose fines of up to USD 90,000 for violations, as well

South Korea's Crypto Exchanges Balk at Further Restrictions

There’s more trouble on the horizon for South Korean cryptocurrency exchanges.