Tag Archives: South Korea

South Korea Imposes 5-Minute Audit Rule On Crypto Platforms

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Bithumb has pushed its stock market listing past 2028, citing the need to overhaul its accounting systems and internal controls after a high-profile crypto payout error drew scrutiny from South Korean regulators. Regulator Steps In After Industry Audit The Financial Services Commission announced Monday that all crypto exchanges operating in the country must now reconcile… Continue reading South Korea Imposes 5-Minute Audit Rule On Crypto Platforms→

Crypto Exchange Korbit Fined $1.90 Million By South Korean Regulators

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South Korea’s top money-laundering watchdog has slapped crypto exchange Korbit with a fine worth about ₩2.73 billion, or roughly $1.90 million, after finding widespread lapses in its compliance controls. According to regulator statements and multiple news reports, the move follows an on-site inspection that uncovered thousands of rule breaches and several risky transfers abroad. Regulatory… Continue reading Crypto Exchange Korbit Fined $1.90 Million By South Korean Regulators→