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Cheongju’s administration has reached out to seven South Korean crypto exchanges, including Upbit and Bithumb, to investigate the holdings of around 8,520 individuals who owe a minimum of 1 million won ($750) in local taxes. After the investigation, authorities in Cheongju aim to seize cryptocurrency assets from such tax evaders. Crypto have increasingly been used for hiding assets in South Korea. Over the span of 2021 and 2022, a total of around $180 million worth of crypto were seized by the South Korean government from individuals who evaded their taxes. 
Private banks in South Korea, Hana Bank and Woori Bank, have taken a keen interest in tokenized deposits, commonly known as Deposit Certificates or CDs.
CDs offer an alternative rooted in blockchain technology, serving as an equivalent to private stablecoins and Central Bank Digital Currencies (CBDCs).
Presently, it's being viewed as a potential substitute for customary notes and deposits without disrupting the existing banking system. Android Conductor Makes Debut at National Theatre of Korea
On June 30, a landmark event unfolded at the National Theatre of Korea as a robot named EveR 6 made its public debut, co-conducting the Korean National Symphony Orchestra. This marked the first time a robot has taken on the role of conductor in South Korea. Crisis Looms Over South Korea's Play-to-Earn Industry
The Play-to-Earn (P2E) market in South Korea has descended into turmoil due to cryptocurrency dealings by a local parliament member. This scandal has cast a spotlight on the likely illicit and uncomfortably close relations between gaming firms and politically influential lobbyists. 
South Korea to introduce a crypto tracking system
The South Korean Ministry of Justice has announced a program called "Virtual Currency Tracking System" aimed at combating money laundering. It provides for the verification of already completed and new cryptocurrency transactions, including the study of the sources of origin of funds. 
South Korea: new president faces resistance to crypto-friendly reforms
Yoon Suk-yeol, who won the March presidential election, has encountered difficulties in realizing his campaign promises. In particular, he announced the implementation of crypto-friendly reforms and the raising of the tax threshold for income from investments in digital currencies. However, within the framework of the current legislation, it is impossible to implement the plan. 
The U.S. Securities and Exchange Commission has received permission from a U.S. judge to request assistance from the South Korean government in questioning Daniel Shin, co-founder of Terraform Labs.
Officials plan to question Shin in connection with their own lawsuit against Do Kwon and to obtain documents related to Chai Corporation, a secondary company that was also used in the illegal scheme. South Korea Requires Crypto Companies To Disclose Holdings
In a bid to enhance transparency in the realm of virtual asset transactions, South Korea has implemented new regulations that mandate crypto companies to disclose their holdings. The companies are now obliged to provide comprehensive information encompassing the quantity, characteristics, business models, and accounting policies associated with the trading of digital currencies. South Korea Passes First Domestic Law Dedicated to Virtual Assets
South Korea has approved its first standalone digital-asset bill aimed at enhancing investor protection. The move comes more than a year after the $2 trillion cryptocurrency market collapse caused by South Korean entrepreneur Do Kwon. 
