Ruling and opposition parties in South Korea have struck a landmark agreement on a digital asset law that includes a regulatory framework for stablecoins, with lawmakers targeting parliamentary approval in January. The framework aims to clarify issuance rules, reserve requirements, and oversight to boost investor protection and market stability.
Upbit will begin a phased resumption of deposits and withdrawals on December 1, 2025 at 1:00 p.m. KST. The exchange said services will be restored in stages rather than all at once.
Upbit said it fully repaid 38.6 billion won in user assets using its own reserves after a recent security breach. The exchange says no customer balances were lost.
South Korea has revised its anti-money‑laundering rules to capture small crypto transfers, expanding reporting duties, banning violators from owning or operating VASPs, and allowing preemptive asset freezes to curb illicit flows.
Upbit is reportedly considering an appeal after South Korean authorities imposed a $25 million fine over alleged compliance lapses. The move could prolong legal proceedings and shape how regulators enforce rules on crypto platforms.
Naver Financial will roll out a stablecoin wallet called Silk Pocket in December 2025, developed in partnership with blockchain investor Hashed. The move signals a major Korean internet firm moving deeper into crypto payments and custody.
South Korea is preparing sanctions against major crypto exchanges after a year-long Financial Intelligence Unit review found anti-money laundering shortcomings. The move signals tougher enforcement that could raise compliance costs and disrupt services.
The operator of Upbit and South Korea’s leading payment platform are set to merge, with board approvals expected Wednesday and a public announcement planned for Thursday.
Naver is expected to approve an equity-swap acquisition of Dunamu, operator of crypto exchange Upbit, at its board meeting next week. Dunamu has set a board meeting for Nov. 26, 2025 to finalize the transaction details.
South Korean firms have postponed plans to hold Bitcoin (BTC) on their balance sheets after the government failed to publish expected guidance this week, Sisa Journal reports. Corporate treasuries had anticipated year‑end authorization to allocate funds into digital assets.