Tagged: fsc

January 13, 2026 @ 12:32 am By Omar Faridi  |  

South Korea’s Financial Services Commission (FSC) is preparing to impose a 5% ceiling on corporate allocations to digital assets. This development, highlighted in recent reports from local outlets like Seoul Economic Daily, signals a cautious yet progressive shift in the nation’s regulatory landscape. The FSC… Read More

January 27, 2022 @ 4:10 pm By Tony Zerucha  |  

Fintech firm XREX announced today it has obtained the money services business (MSB) license from the Financial Transactions and Reports Analysis Centre (FINTRAC) under the Canadian government. The license allows the Taipei-based company to extend its crypto-fiat exchange services, which include cross-border payments, remittances, global… Read More

July 5, 2021 @ 12:19 pm By Omar Faridi  |  

Kakao Pay, a Fintech division of Kakao, which is the South Korean company that operates the KakaoTalk messenger app, reveals that it has submitted its initial public offering (IPO) filing. The company intends to secure as much 1.632 trillion Korean won (app. $1.4 billion) in… Read More

May 24, 2021 @ 7:55 am By Omar Faridi  |  

Financial Services Capital (FSC), the private equity investor focused on the ongoing transformation of the European financial services industry, has finalized its acquisition of a stake in JZ Lending Ltd, which currently controls Spain’s consumer finance platform Unión Financiera Asturiana. The Bank of Spain has… Read More

March 11, 2021 @ 11:10 pm By Omar Faridi  |  

South Korean authorities have stated that they’re planning to impose heavy penalties or fines on individuals and businesses violating applicable guidelines for cryptocurrency transactions. The Korean financial regulator stated that it would impose a fine on virtual currency exchanges if they fail to report suspicious… Read More

November 23, 2020 @ 11:33 pm By Omar Faridi  |  

Taiwan’s Joint Credit Information Center (JCIC) is reportedly planning to provide a database for local Fintech firms so that they can obtain relevant information on consumers’ credit risk profiles. Taiwan’s Financial Supervisory Commission (FSC) made this announcement after Fintech companies held a meeting in June… Read More

July 14, 2020 @ 11:41 pm By Omar Faridi  |  

South Korea’s private sector members have revealed that the nation’s citizens may have to pay as much as 20% of their cryptocurrency earnings in taxes. The country’s lawmakers have said that virtual currencies are like electronic or digital certificates of economic value that may be… Read More

May 20, 2020 @ 11:33 pm By Omar Faridi  |  

  South Korea’s Fintech sandbox program has reportedly acquired $111 million in funding. The initiative is expected to create 380 new jobs, locally. South Korean officials confirmed that the financial technology regulatory sandbox had secured KRW 136.4 billion in capital, and that they’re expecting the… Read More

December 23, 2019 @ 10:43 am By Omar Faridi  |  

Foreign residents in South Korea will have the option of using the all-digital Kakao Bank and K bank beginning next year, as the country’s financial regulators will let consumers use their alien registration cards to open accounts via the internet. South Korea’s financial regulator, the… Read More

April 19, 2019 @ 3:42 pm By JD Alois  |  

The Financial Services Commission of Mauritius has issued guidance on security tokens as part of their “Fintech series.” The Guidance follows the regulator’s recognition of digital assets as a unique asset class for investors. In March, the FSC issued a brief statement clarifying that a… Read More

January 31, 2019 @ 8:15 pm By Cali Haan  |  

Citing “high risk,” “insufficient disclosure,” “no actual service” and token dump price plunges of 68% immediately after privately sold coins are introduced onto public exchanges, the Korean Government has decided to uphold strict regulation (reportedly a ban) on ICOs (initial coin offerings). The government made the decision… Read More

January 3, 2018 @ 9:20 am By JD Alois  |  

A report by Yonhap News says the South Korean government will ban all anonymous transactions in cryptocurrencies as soon as January 20th.  According to the article, only real name bank accounts will be allowed for deposits and transactions on exchanges. Simultaneously, new virtual cryptocurrency accounts… Read More

December 16, 2017 @ 11:25 am By JD Alois  |  

South Korea has decided not to ban cryptocurrencies after all, instead the Korean government has decided to caution consumers on purchasing or trading in cryptocurrencies while regulators attempt to better manage the emerging market.  Previously, it was expected that Korean government officials were going to… Read More

December 10, 2017 @ 11:23 am By JD Alois  |  

This past week saw a bit of reversal in South Korea’s stance on Initial Coin Offerings (ICO). In September, it was reported that Korea had decided to totally ban ICOs following a similar approach by China. But during a presentation at the National Assembly by… Read More

September 4, 2017 @ 1:02 pm By JD Alois  |  

A joint task force took place this weekend in South Korea addressing the burgeoning cryptocurrency market. According to a report in BusinessKorea, The Financial Supervisory Commission (FSC), the Korea Fair Trade Commission (KFTC) and the National Tax Service (NTS) came together to review digital currencies,… Read More