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Binance Seeks to Reduce Stake in Operator of South Korean Crypto Exchange Gopax to 10%

[Jul 12 10:30 PM] Binance is reportedly seeking to reduce its stake in the South Korean crypto exchange Gopax’s parent company, Streami, to approximately 10%. Binance’s mooted sale of the stake to Megazone comes just over a year after Binance acquired the…

South Korean Universities Face Banking Hurdles in Converting Crypto Donations to Cash

[May 30 5:20 AM] South Korea’s regulations prohibiting corporations from opening virtual asset exchange accounts are making it impossible for local universities to liquidate their large cryptocurrency donations. Financial authorities cite money laundering concerns…

South Korea Launches Investigation Into Worldcoin’s Data Collection Practices

[Mar 5 11:00 PM] The government of South Korea has opened an investigation into Worldcoin, the iris scanning cryptocurrency and digital wallet project. According to a press release, the Personal Information Protection Commission, the data privacy watchdog in the…

South Korea to Expel Crypto Exchanges Failing to Meet Its Stringent Conditions

[Feb 15 1:30 AM] Cryptocurrency exchanges that fail to meet South Korea’s stringent operating standards will be expelled from the crypto market, the country’s financial intelligence agency has said. The Financial Intelligence Unit said its annual work…

South Korean Prosecutor in Court for Passing Information to a Virtual Asset Investment Fraudster

[Feb 1 6:30 AM] On Jan. 30, a South Korean court continued with the trial of a prosecutor who is accused of passing sensitive information on the progress of an investigation to an alleged virtual asset investment fraudster. According to the Gwangju District…

South Korean Tax Accountant: Digital Assets Held in Non-Custodial Wallets Not Subject to Overseas Reporting Requirement

[Jan 5 10:30 AM] South Koreans with digital assets held in non-custodial or decentralized crypto wallets like Metamask or Ledger are reportedly not subject to the country’s overseas financial account reporting requirement. According to a South Korean tax…

Report: Operator of South Korean Crypto Exchange Upbit Sees a Nearly 40% Drop in Operating Profit

[Nov 30, 2023 6:30 AM] Dunamu, the operator of the South Korean crypto exchange Upbit, recently said it had realized an operating profit amounting to $79 million in the third quarter of 2023. Virtual asset valuation losses contributed to the 81.6% drop in the…