Global #South Korea

South Korea's Financial Intelligence Unit (FIU) has issued a suspension notice to Upbit, a leading cryptocurrency exchange, for alleged Know Your Customer (KYC) violations.

South Korea has officially commenced discussions to develop the second phase of its crypto regulatory framework, aiming to finalize the legislation within the second half of this year.

South Korea is poised to significantly relax its restrictions on institutional crypto trading. The Financial Services Commission (FSC) plans to gradually grant institutions, starting with non-profit organizations, access to local crypto exchanges.

The United States and South Korea have formalized a partnership to enhance cybersecurity and combat the growing threat of North Korean-backed crypto heists.

The South Korean cryptocurrency sector has suffered a significant setback following the declaration of martial law in early December.

South Korea's cryptocurrency market experienced a significant downturn following President Yoon Suk Yeol's declaration of martial law on December 3rd.