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Tag: South Korea

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South Korea Rethinks How Crypto Exchanges Access Banks
What was once seen as a practical compliance solution is now being questioned as a potential brake on competition.
Key Takeaways

South Korea is reviewing exclusive bank ties in crypto.
Regulators worry the model limits competition.
Smaller exchanges struggle to… Read full article
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South Korea weighs ending one bank rule for crypto exchanges: Report
South Korea is reportedly reviewing exclusive bank partnerships for crypto exchanges as regulators assess competition and prepare the Digital Asset Basic Act. Read full article
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International Crypto Crime Ring Exposed: South Korea Uncovers $100 Million Laundering Scheme
South Korean officials have unveiled a major international cryptocurrency crime ring involved in laundering approximately 150 billion won, equivalent to around $101.7 million, through an unauthorized foreign exchange scheme. 
The Korea Customs Service (KCS) announced on Monday that three Chinese… Read full article
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$100M Underground Remittance Network Using Crypto, WeChat Dismantled In South Korea
Seoul investigators say they have disrupted a secret money-transfer network that moved roughly 150 billion won—about $102 million—into and out of South Korea using a mix of mobile payment apps and cryptocurrencies.

Reports say three people have been formally accused… Read full article
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