Bithumb has asked a court for an asset freeze to reclaim the remaining 7 BTC mistakenly paid out in February. The South Korean exchange is turning to legal action after internal recovery efforts failed to secure the funds.
The Financial Services Commission said unevenly applied exemption rules created loopholes that enabled rapid, hard-to-trace fund movements, and on April 8 narrowed withdrawal exemptions to curb further scams.
South Korea is advancing stablecoin-based payment pilots with international firms to serve visitors, keeping foreign interest alive despite recent regulatory headwinds. The move aims to simplify cross-border spending and test practical use cases for stablecoins in tourism and retail.
On April 6, 2026, Ripple-backed XRP surpassed Bitcoin to become the most traded asset on Upbit, South Korea’s largest crypto exchange, reflecting growing demand amid a broader market recovery. The shift highlights rising liquidity and bullish momentum for XRP in a key regional market.
Ripple’s RLUSD has been listed on Coinone, giving South Korean users direct KRW access to the stablecoin. The move advances Ripple’s push to scale RLUSD across regulated markets and grow liquidity-driven use cases.
Ripple USD (RLUSD), a fully reserved, enterprise-grade stablecoin, will list on South Korea's Coinone exchange on Wednesday, April 1, 2026, trading directly against the Korean won (KRW). The move could boost liquidity and adoption across the XRP ecosystem.
Hyun Song Shin, a 12-year veteran of the Bank for International Settlements who helped shape central bank thinking on CBDCs, was nominated on March 22 by President Lee Jae-myung to lead the Bank of Korea. His appointment could speed South Korea's digital currency efforts and deepen coordination with global regulators.
South Korea's National Tax Service will outsource custody of seized cryptocurrencies after accidentally exposing a wallet recovery phrase that enabled $4.8 million in unauthorized transfers. The agency says the move aims to bring in specialized security and insurance to prevent future lapses.
Opposition lawmakers in South Korea have proposed abolishing a planned 22% tax on cryptocurrency gains; the ruling Democratic Party says it will review the proposal but has not reached consensus. The move increases uncertainty over the tax’s future and could reshape investor sentiment.
The Bank of Korea and nine commercial banks have started live trials of deposit tokens, testing subsidy disbursements and peer-to-peer transfers. The pilot aims to evaluate operational performance and integration with existing payment rails.