South Korea Wants Companies to Disclose Crypto Holdings

Companies that issue or own crypto will have to make disclosures in their financial statements from next year onwards, say draft rules.

• 2023-07-12
• Financial Services Commission draft rules financial regulator South Korea financial statements

South Korea holds first court hearing for Terra co-founder Daniel Shin on crypto fraud charges

South Korea on Monday held the first preliminary hearing for Terraform Labs co-founder Daniel Shin and seven other former employees on charges related to the collapse of the Terra-Luna crypto project.

• 2023-07-10
• Daniel Shin preliminary hearing Terraform Labs Seoul Southern District Court South Korea Shin

Seoul: Asia’s Retail Crypto Capital Moves on After Do Kwon

South Korea’s nearly 7 million registered users, many in the nation’s capital, show a huge interest in trading crypto. But CoinDesk’s 4th-ranked Crypto Hub for 2023 is still licking its wounds after the catastrophic collapse of Do Kwon’s Terra blockchain – for a time, South Korea’s favorite crypto project.

• 2023-06-27
• global markets Seoul South Korea XRP

Two Crypto Platforms Halt Withdrawals in an Echo of the Sector’s 2022 Woes

(Bloomberg) -- Two South Korea-linked crypto platforms halted withdrawals in the space of 24 hours, a reminder of the ongoing risks in the digital-asset sector following a spate of blowups sparked by a market rout last year.Most Read from BloombergElizabeth Holmes Objects to $250-a-Month Victim Payments After PrisonTrump Urges Prosecutors to Drop Case, Offers Defense PreviewBiggest Losers of AI Boom Are Knowledge Workers, McKinsey SaysNYC’s Rent Surge Defied by New Grads Pursuing a TikTok Lifest

• 2023-06-15
• Bloomberg Haru Invest South Korea

South Korea's Ruling Party Calls to Expedite Bill on Lawmakers' Crypto Disclosures: Report

The leader of South Korea's ruling People Power Party wants a new bill requiring lawmakers and high-level government officials to declare their cryptocurrency-related assets to be implemented within two months.

• 2023-05-23
• People Power Party South Korea Yun Jae-ok lawmakers

S.Korean lawmakers propose public officials disclose crypto holdings

A South Korean ruling party lawmaker proposed all public officials and candidates disclose their crypto holdings in a new bill unveiled last Friday.

• 2023-05-22
• public officials South Korea virtual assets Democratic Party

Bank of Korea Edges Closer to Being Able to Investigate Crypto Firms: Report

Korean regulators said they worry it will signal "virtual asset markets and businesses are treated the same as financial markets and institutions."

• 2023-04-28
• Bank of Korea Financial Services Commission BOK Herald Business South Korea digital asset Virtual Asset central bank government’s Political Affairs Committee

South Korea Indicts Co-Founder of Failed TerraUSD Cryptocurrency

Prosecutors charged Daniel Shin of violating capital-markets laws in the latest legal action following a digital-currency crash last year.

• 2023-04-26
• TerraUSD South Korean prosecutors Daniel Shin federal prosecutors Do Kwon CRYPTO South Korea South Korean won

Crypto Fugitive Do Kwon Is Arrested in Montenegro and Charged With Fraud in US

(Bloomberg) -- Terraform Labs co-founder Do Kwon, who presided over a more than $40 billion cryptocurrency implosion last year, was arrested in Montenegro and charged with fraud by US prosecutors.Most Read from BloombergJack Dorsey’s Block Vows to Fight Back After Hindenburg Says It’s Short the StockShort Seller Hindenburg Says ‘Another Big One’ Coming SoonUS Fears a War-Weary World May Embrace China’s Ukraine Peace BidJPMorgan Sold $10 Million in Jewels Left in Bank Safe Deposit Box, Suit Claim

• 2023-03-24
• US Securities and Exchange Commission Bloomberg Terraform Labs Do Kwon Interior Ministry South Korean prosecutors South Korea

Former Crypto Star Arrested After Months on the Run

Do Kwon, the founder of Terraform Labs, the ecosystem behind the Luna and UST cryptocurrencies which collapsed last May, has been arrested in Montenegro, according to local authorities.

• 2023-03-24
• Terraform Labs UST South Korean authorities Do Kwon South Korea arrest warrant Celsius Network