Tag: SOUTH KOREA

Following the Terra Meltdown, South Korean authorities are looking to scrutinize exchanges more closely.

Following the Terra Meltdown, South Korean authorities are looking to scrutinize exchanges more closely

November 3, 2022

Following the Terra Meltdown, South Korean authorities are looking to scrutinize exchanges more closely According to The Korea Times, South Korea’s financial regulators are considering enacting legislation to subject crypto exchanges to tighter scrutiny in the aftermath of Terra’s demise.  The National Assembly emergency seminar this week focused on cryptocurrency. The Terra stablecoin UST and […]

South Korean resistance

Prosecutors in South Korea have prohibited Terra personnel from leaving the country.

June 21, 2022

  Prosecutors in South Korea have prohibited Terra personnel from leaving the country. According to a report by local media JTBC on June 20, South Korean prosecutors have banned top Terraform Labs employees from leaving the country.JTBC reported that a travel ban is in place to prevent Terra employees from leaving the country to avoid […]

Terra employees are not allowed to leave South Korea, according to prosecutors.

Terra employees are not allowed to leave South Korea, according to prosecutors.

June 20, 2022

  Terra employees are not allowed to leave South Korea, according to prosecutors. According to a report by local media station JTBC on June 20, the prosecutor’s office in South Korea has barred key Terraform Labs personnel from leaving the country. According to JTBC, the travel ban was enforced to prevent Terra personnel from departing […]

South Korea allocates $117.1 million to the industry's launch.

South Korea allocates $117.1 million to the industry’s launch.

June 1, 2022

South Korea allocates $117.1 million to the industry’s launch. South Korea put aside $117.1 million as one of the first nations to ever formally invest in the metaverse. The nation’s long-term metaverse ambitions produced this earmark, which might be used as a template by future governments. To kickstart the metaverse economy, the South Korean Ministry […]

After losing $2.4 million in the Terra Crash, a LUNA investor was arrested for knocking on Do Kwon's door.

South Korea to subsidize $187 Million in Metaverse project

February 28, 2022

  Ministry of Information and Communication Technology of South Korea and Future Planning promised 223.7 billion (Korean Republic Won) KRW, which is $186.7 million. This is to develop a vast Metaverse ecosystem to support the development of digital subjects and corporate development in the nation. The Ministry said that accounts will be spent on finishing […]

South Korean resistance

KB to inaugurate South Korea’s first crypto investment fund

February 21, 2022

The enterprise fund will be the first proposed by a bank in the nation and is required to comprise a type of crypto index and ETFs. Kookmin Bank is formulating to evolve as the first bank in South Korea to request crypto investment commodities to retail investors. The bank declared that it had constructed a […]