#south korea
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Prosecutors Set Their Sights on Do Kwon's Belgrade Apartment
The law enforcement of South Korea is set to confiscate the Belgrade apartment of Terraform Labs' founder, Do Kwon, situated in Serbia. Estimated at $2.2 million, the apartment is in the capital's elite district, populated by high-profile individuals like legislators, police officials, and entrepreneurs. South Korea Clamps Down on Cryptocurrency Manipulations
Effective July 19, South Korea's new Virtual Asset User Protection Act will come into force, criminalizing market manipulation, illicit and insider trading within the cryptocurrency sector. Offenders face severe penalties, including a minimum fine of three times the amount of profit gained or imprisonment. South Korea Seeks to Regulate Crypto Mixers
The South Korean government intends to establish specific regulations targeting cryptocurrency mixers, which are used to obscure the origin of digital assets. This initiative is driven by the challenges these services pose in tracking money laundering conducted by criminal organizations. 
South Korea Urges Cooperation from Telegram
The South Korean government has reached out to social media platforms, including the messaging app Telegram, demanding the removal of deepfake sexual content from their servers. Officials have identified Telegram as a major conduit for the distribution of such material. 50 People Fall for a Honeypot Scam in South Korea
The Gwangju Police Agency Cyber Crime Investigation Unit has arrested 28 individuals involved in a cryptocurrency investment fraud scheme under Article 345 of the Criminal Code of the Republic of Korea. The group duped their victims out of more than $13 million. 
SEC to Advise South Korean Regulators
The Financial Supervisory Service of South Korea (FSS) intends to meet with business representatives and the US Securities and Exchange Commission (SEC) to gather detailed information about Bitcoin ETFs. These plans were announced by the FSS Governor, Lee Bok-hyun, during a presentation in Seoul outlining his action plan for the near future. Crypto Regulations in South Korea: Key Features
South Korea stands at the forefront of cryptocurrency innovation, boasting the highest trading volume in Asia. The nation's regulation of digital currencies began in 2017, coinciding with the first significant bull run of BTC and other cryptocurrencies. South Korea Fines Worldcoin $829,000
South Korea’s regulator fined Tools For Humanity and the Worldcoin Foundation, the entities behind the famous iris scanning solution, $829,000 for violating personal data protection laws. Officials have also provided recommendations for improving the product in terms of regulatory compliance. South Korea or the USA: Where Will Do Kwon Be Extradited?
In late May, Montenegro's Minister of Justice, Andrej Milović, met with a delegation from the U.S. Securities and Exchange Commission (SEC). This visit followed significant developments regarding the potential extradition of Terraform Labs' fugitive founder, Do Kwon. 
South Korea Stands Against Crypto ETFs
The South Korean government has expressed opposition to the approval of Bitcoin or any other cryptocurrency-based ETFs, in light of the recent shifts in the U.S. financial policy. This stance was articulated by a representative of the South Korean Financial Services Commission (FSC).