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Financial Services Commission
33 TokenPost stories are tagged Financial Services Commission. The newest appear first.
Latest Financial Services Commission stories
- South Korea’s FSC to Permit Crypto Exchange Freezes on Suspected Hacks
The commission decided to issue a no-action opinion but gave no issuance date, freeze duration or detailed conditions. It also called for continuous monitoring and stronger wallet safeguards.
· Regulation
- South Korea Plans to Let Crypto Exchanges Suspend Deposits and Withdrawals
The proposed no-action letter would permit preventive suspensions before a breach is confirmed. The FSC also called for round-the-clock monitoring, higher cold-wallet holdings and stronger insurance coverage and reser…
· Regulation
- South Korea's FSI Breach Exposes Employee Data and Prompts Review
The breach exposed about 300 records with financial institution employees’ names and birth dates, plus roughly 350 masked contact details.
· Technology
- South Korea Weighs 15% to 20% Cap on Crypto Exchange Shareholders
Existing platforms may receive one to two years to sell excess shares, while officials are weighing voting-rights limits as an alternative to an ownership ceiling.
· Regulation
- Korea Blockchain Industry Promotion Association Seeks Central Bank Node Role in Tokenized Securities
As South Korea considers proposed tokenized-securities rule changes, the proposal would open validation, consensus and query nodes to qualified technology firms while leaving securities-recording authority and ledger …
· Regulation
- South Korea Plans Immediate Incident Notices for Virtual Asset Service Providers
New guidance would require providers to notify two financial bodies immediately after discovering a security incident. Broader legislation is targeted for submission in the first quarter of 2027.
· Regulation
- South Korea Plans Immediate Crypto Incident Reporting to Two Agencies
The Financial Services Commission announced the guidance plan Nov. 5 as authorities pursue a broader security law by the first quarter of 2027.
· Regulation
- South Korea Finalizes 361.96 Billion Won in Bank Fines
The decision also sets 1.778 billion won in administrative penalties for seven banks over Hong Kong H-index ELS sales.
· Regulation
- South Korea Weighs Raising Crypto Exchange Cold-Wallet Floor to 99%
The current minimum is 80%. Some small and midsize exchanges are only slightly above that threshold.
· Regulation
- South Korea's Financial Regulator Orders Exchanges to Raise Cold-Wallet Holdings
The review covered IT access, wallet-transfer controls, real-time asset monitoring, emergency staffing and reserves.
· Regulation
- South Korea’s FSC Reviews Exchange Security and 80% Cold-Wallet Rule
The regulator met with Upbit, Bithumb and Coinone after a large-scale asset theft at Binance. Their cold-wallet ratios ranged from just above 80% to more than 99%.
· Regulation
- South Korea Requires Crypto Exchanges to Keep at Least 80% in Cold Wallets
The Nov. 2 meeting cited the Binance attack as a security example. Upbit’s ratio was above 99%, while DigitalX and Gopax were a little above 80%.
· Regulation
- South Korea’s Financial Regulator to Review Security With Five Bank Chiefs
The meeting is set for 8 p.m. ET Wednesday, Nov. 4 (1 a.m. UTC Thursday, Nov. 5), with AI-related threats on the agenda.
· Regulation
- South Korea’s FSC Will Study Crypto Exchanges’ Role in STO Market
The review will cover market conditions, investor protection, licensing-system integration and whether exchanges may operate other businesses alongside STO services.
· Regulation
- South Korea’s Crypto Tax Remains Set for 2027 as Delay Bill Waits
At an Oct. 22 audit, officials said consultations on a broader digital-asset bill were nearing completion. A separate bill would move the tax start to 2029 but remains pending.
· Regulation
- South Korea’s Digital Asset Legislation Enters Final Consultation Stage
The government is continuing administrative steps for a January 2027 virtual asset tax, while opinions on taxation are still being collected.
· Regulation
- South Korea's Tokenized Assets, Stablecoins Could Reach $253 Billion by 2030
The conditional estimate includes $221.5 billion in tokenized assets and $31.6 billion in stablecoins. It assumes South Korea captures a share of global markets in line with its share of world GDP.
· Investing
- No Change Announced to South Korea’s 2027 Crypto Tax Timetable After Talks
Officials met with five exchange operators Oct. 20. The National Tax Service is preparing detailed rules for the scheduled January 2027 start.
· Regulation
- South Korea Warns Offshore Perpetual Futures Can Wipe Out Investments
Leverage can reach 200 times; at 150 times, an adverse move of about 0.66% in a Korean stock-index contract could trigger full liquidation.
· Regulation
- South Korea Warns Offshore Perpetuals May Lack Domestic Legal Protections
Some products offer leverage of 10 to 200 times, and traders may have difficulty pursuing remedies if a platform fails or suspends trading.
· Regulation
- South Korea’s KOSPI Falls 7.57% as Financial Regulator Reviews Risks
A separate cybersecurity review found breaches at 16 financial firms and about 100,000 exposed pieces of customer data.
· Investing
- South Korea Halts KOSPI and KOSDAQ Together for First Time Since July
The FSC said it was ready to activate contingency plans after the KOSPI closed down 7.57%; SK Hynix fell 11.06% and Samsung Electronics lost 9.48%.
· Investing
- South Korea Plans More Frequent Cybersecurity Checks After 16 Breaches
About 100,000 pieces of customer data were exposed, while a sectorwide checklist flagged security deficiencies at 130 of 555 financial companies.
· Regulation
- Crypto tax deferral debate gathers pace as overseas data, framework law emerge as key issues
Debate over postponing cryptocurrency taxation is intensifying, with overseas transaction data and delays to the Digital Asset Framework Act emerging as key issues.
· Regulation
- South Korea Expands Tokenized Securities Plan to Bonds and Funds
A proposed rule change would initially target institutional products, with broader retail access planned after market conditions stabilize.
· Regulation
- South Korea Tightens VASP Rules as Tokenized Securities Plan Advances
New standards include a 200% debt-ratio cap, while a separate tokenized-securities framework is planned for Feb. 4, 2027.
· Regulation
- South Korea Says Crypto Exchange Ownership Limits Are Not Targeted
The Financial Services Commission plans tighter oversight as exchanges move from three-year reporting renewals to a licensing system under the Digital Asset Basic Act.
· Regulation
- South Korea Proposes $2.8 Million Capital Rule for Tokenized Securities Firms
The rules would also cap retail investors’ net purchases at $70,000 a year on each licensed over-the-counter platform.
· Regulation
- South Korea Moves to Bring Stocks, Bonds Into Security-Token Rules
The Financial Services Commission’s proposed revisions would also cover funds and set distributed-ledger requirements for tokenized securities.
· Regulation
- South Korea Plans Tokenized Stocks, Bonds and Funds Under New Roadmap
The Financial Services Commission will phase in tokenized securities beginning Feb. 4, 2027, starting with selected institutional and unlisted assets.
· Regulation
- South Korea Reports 14.92 Trillion Won in Stablecoin Outflows
Net transfers from five domestic exchanges to overseas platforms stayed negative for 18 months through June 2026 as stablecoin legislation remains unfinished.
· Regulation
- Jamaica House Begins Debate on Crypto Licensing Framework
The proposed law would require virtual-asset businesses serving Jamaican customers to obtain a Financial Services Commission license and follow anti-money-laundering controls.
· Regulation
- South Korea’s FSC Considers Crypto Market-Maker System Despite Ban
The review is aimed at improving market efficiency and stability as lawmakers prepare the second phase of digital-asset legislation.
· Regulation