Address
5F, 526 Nonhyeon-ro,
Gangnam-gu, Seoul, Korea
Korea Crypto & Digital Asset Law
Deals and legal analysis on Korean virtual asset regulation, VASP registration, token listings, AML, stablecoins and digital securities from Cha & Kwon Law Offices in Seoul.
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Court Rules that the Maximum Interest Rate Limitation Does Not Apply to Bitcoin (Updated October 2022)
[Executive Summary] In a recent court ruling of a case in which Cha & Kwon Law Offices represented the plaintiff as attorneys at law, the Seoul Central District Court ruled…
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Other Updates on Virtual Asset Regulatory Issues in Korea (Updated September 2022)
[Executive Summary] Other noteworthy issues regarding the virtual asset regulatory updates are as follows: 1) The completion of a partnership between Coinone and Kakaobank for the establishment of real-name accounts…
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KoFIU Reported 16 Unregistered Overseas VA Exchanges for Investigation (Updated September 2022)
[Executive Summary] The Korea Financial Intelligence Unit (“KoFIU”) reported 16 overseas VA exchanges, which operated without a VASP registration, to the investigation agencies for violating the Act on Reporting and…
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The Guideline for the Security Token Will Be Established Within This Year (Updated September 2022)
[Executive Summary] The financial authorities announced that the guideline for the security token offering (STO) will be established within this year. In case of the token is categorized as security…
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Legal Review of Overseas Personal Information Processing and Transfer by VA Exchanges
Cha & Kwon Law Offices provided legal review and advice on the overseas transfer and processing of personal information of a domestic virtual asset exchange “A.” Users’ personal information…
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Shinhan Bank’s Withdrawal From Klaytn and the Framework Act on Digital Assets (Updated August 2022)
[Executive Summary] It was confirmed that Shinhan Bank withdrew from the Klaytn Governance Council as a result of the government’s ban on holding virtual assets by financial institutions in 2017.…
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Vidente, Bithumb’s Largest Shareholder, Reviewed Selling Bithumb to FTX (Updated August 2022)
[Executive Summary] Bithumb Holdings’ largest shareholder Vidente acknowledged that it has considered selling Bithumb to FTX, an American virtual asset exchange. Some speculate that the deal will not be made…
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The FSC Hinted at the Possibility of Allowing Banks To Enter the VA Business (Updated August 2022)
[Executive Summary] The Financial Services Commission (“FSC”) held the first meeting of the Council on Innovating Financial Regulations (“Council”) on July 19th and announced its “Execution Plan for Innovating Financial…
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Legal Examination on Purchasing Agent Contract for Virtual Assets
Cha & Kwon Law Offices examined a Purchasing Agent Contract for virtual assets. Company “A” visited Cha & Kwon Law Offices to revise the details of an existing contract, such…
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The Five Major Exchanges in Korea Launch a Joint Consultative Group “DAXA” (Updated July 2022)
[Executive Summary] The five major exchanges in Korea that operate the KRW market (Upbit, Bithumb, Coinone, Korbit, and Gopax) have launched a joint consultative group called the DAXA with the…
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Taxation on Virtual Assets Has Been Delayed for Two Years (Updated July 2022)
[Executive Summary] Along with Yoon Suk-Yeol government’s recent announcement for delaying the implementation of the Financial Investment Income Tax for two years, the taxation on virtual assets has also been…
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Shinhan Ceased Its Issuance of Corporate Real-name Account to Korbit (Updated July 2022)
[Executive Summary] Shinhan Financial Group decided to cease the issuance of corporate real-name accounts to Korbit. As a trial, Shinhan Bank had issued real-name verified deposit and withdrawal accounts to…