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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KakaoBank About to Link Real-name Bank Accounts to a VA Exchange (Updated July 2022)
[Executive Summary] KakaoBank, a South Korean mobile-only bank, is about to link its real-name bank accounts to a virtual asset exchange (Coinone). KakaoBank and Coinone are at the final stage…
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Gopax Has Become the 5th Korean Crypto Exchange With a KRW Market (Updated June 2022)
[Executive Summary] Jeonbuk Bank and Gopax, a Korean crypto exchange, entered a contract where the former agrees to provide banking accounts for Gopax’s KRW market users, allowing Gopax to re-open…
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The South Korean Authority Plans To Categorize VA—Security or Non-security-Based (Updated June 2022)
[Executive Summary] The financial authorities of South Korea – the Korea Financial Intelligence Unit (“KoFIU”) and the Financial Services Commission (“FSC”) – plan to create two categories for virtual assets…
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Dunamu (Upbit)’s 1Q Profit Decreased by 46% from the Last Year (Updated June 2022)
[Executive Summary] Dunamu, the operator of Upbit which is the largest crypto exchange in South Korea, had a significant decrease in its 1Q sales in 2022. The reason is likely…
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The Prosecution Service of Korea Summoned an Ex-developer of Terraform Labs and Launches an Investigation Regarding the Terra-Luna Case (Updated June 2022)
[Executive Summary] The Prosecution Service of Korea formed an investigation team and started an official investigation of the LUNA crisis. The team started by summoning early key employees of Terraform…
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Review of Guidelines for Listing Examination and Compensation for VASPs’ New Coins
Cha & Kwon Law Offices examined guidelines for listing examination and compensation of VASPs’ new coins. Article 10-20 of the Enforcement Decree of the Act on the Reporting and…
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Legal Examination on Internal Control Guidelines on Unfair Business Practices of VASPs
Cha & Kwon Law Offices examined supplemented Internal Control Guidelines for Unfair Business Practices for VASP “A.” With the amendment of the Act on Reporting and Using Specified Financial…
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Legal Opinion on Examination of Whether NFT Marketplace Falls Under VASP and Securities
Cha & Kwon Law Offices wrote a legal opinion on whether NFT is considered as securities and whether the NFT marketplace falls under VASP. Although launching of NFT marketplace…
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Writing Contracts for Token Economy of Joint Corporate Blockchain Project
Regarding the use of token for pre-sales and platform operation, joint corporates that operate blockchain platforms proceed negotiations regarding which virtual asset would be used as key crypto in each…
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Successful Defense for Suspect of FSS Investigation Request (1)
The Financial Supervisory Service (hereinafter “FSS”) requested to prosecution for investigation on fintech businesses. Cha & Kwon Law Offices deputized businesses subject to investigation, clarified the injustice of the investigation…
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Examination of Decentralized Exchange (DEX)
Cha & Kwon Law Offices provided legal opinion under the Act on Reporting and Using Specified Financial Transaction Information, examining the securities and business possibility of VAPSs launching DEX (Decentralized…
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NFT Publishing Contract
Cha & Kwon Law Offices wrote a service delegation contract of NFT publishing project for an artist who draws the basis picture of NFT. Because NFT projects are legally…