Altcoins News
By Sydney TheCMO
1 / 15
South Korea's cops want help. They're picking a private company to hold seized crypto by mid-2026, and it's about time too.
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The police basically screwed up before with digital money seizures. Nobody's saying exactly what went wrong, but word around Seoul's financial district is that several big…
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A special task force started working on this problem months ago. They're checking out different custody companies right now, looking for someone who won't lose the goods.
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The Financial Services Commission jumped in too. They want South Korea's crypto rules to match what other countries are doing, which makes sense given how much digital money…
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But the cops won't say which specific screw-ups forced their hand. Industry folks know about the problems though - whispers in trading circles mention lost private keys and…
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Kim Joon-ho from the police force said on March 15 that they can't repeat past errors. "We need a partner with a solid track record in digital asset security," he told reporters…
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The Bank of Korea is watching everything closely. As the country's central bank, they're worried about financial stability if crypto seizures keep going wrong.
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Local exchanges are getting nervous. Bithumb already started upgrading its compliance systems, just in case new rules hit hard.
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Lee Hyun-seok from Korea Blockchain Association thinks this coordination between government agencies means big policy changes are coming.
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The G20 summit in Seoul this April will feature crypto regulation talks. South Korea wants to show off its new custody framework there, hoping to look like a leader in digital…
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Meanwhile, Coinone submitted its own security proposal to regulators. CEO Cha Myung-hoon said collaboration between private companies and authorities is crucial during a recent…
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The Ministry of Justice is providing legal guidance on seizure procedures. They keep emphasizing the need to follow domestic and international laws when grabbing people's crypto.
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Jeong Min-ki, a policy advisor at the Ministry of Economy and Finance, said they're analyzing potential economic impacts.
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The National Assembly will review proposed regulations once police pick their custody provider.
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The Financial Supervisory Service ramped up exchange audits as of March 2026. More frequent inspections show the government means business about compliance across the digital…
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