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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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South Korea busts $100M underground remittance ring using WeChat, crypto: Report
South Korea’s customs agency charged three suspects over a more than $100 million crypto-linked remittance scheme using WeChat Pay and Alipay, per Yonhap. Read full article
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South Korea Uncovers $100M Crypto Laundering Network
The case came to light following a prolonged investigation by the Korea Customs Service, which traced unusual money movements linked to digital assets and unlicensed foreign exchange activity. Three Chinese nationals are now facing prosecution for allegedly orchestrating the operation… Read full article
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