Browsing:South Korea

South Korea intends to impose more regulations on the executives of crypto companies
3 weeks ago 1 min read

South Korea is set to enforce a new regulation requiring crypto companies

A new rule requiring executives of crypto companies to get prior approval from the Financial Services Commission (FSC) is about to go into effect in South Korea, which is a big step in the direction of tighter regulation of the crypto market. South Korea intends to impose more regulations on the executives of crypto companies, mandating that they obtain authorization from the FSC, the nation’s financial regulator, before commencing their positions. By the end of March 2024, this new rule—which is a part of proposed changes to how crypto services report their activities—will be in effect. The FSC stated on

South Korea has maintained its ban on crypto ETFs,
2 months ago 1 min read

South Korea Holds Firm on Crypto Investment Ban for Financial Stability Despite US Bitcoin ETF Approval

Following the approval of a Bitcoin Spot ETF by the US on January 10th, South Korea has maintained its ban on crypto ETFs, citing concerns about financial stability and investor protection, according to local media reports. While the United States embraces the new era of Bitcoin Spot ETFs, South Korea’s financial regulator remains committed to existing rules that limit the inclusion of crypto in the ETF landscape. The decision reflects the country’s cautious approach to the evolving crypto landscape, which is rooted in the goal of maintaining financial stability. South Korean law currently restricts ETFs to traditional financial instruments and