{"id":62392,"date":"2025-12-08T12:16:42","date_gmt":"2025-12-08T12:16:42","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=62392"},"modified":"2025-12-08T12:16:42","modified_gmt":"2025-12-08T12:16:42","slug":"seoul-are-planning-a-crypto-raid-is-south-korea-crypto-safu","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=62392","title":{"rendered":"Seoul Are Planning a Crypto Raid: Is South Korea Crypto SAFU?"},"content":{"rendered":"<div>\n<p>South Korea crypto enforcers are preparing one of the strictest investor-protection regimes in the World, drafting legislation that would force exchanges to fully compensate users for losses from hacks or system failures without requiring proof of negligence.<\/p>\n<p>This really throws a wrench in my plans of making just enough money passively to hop between <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Seoul and Tokyo<\/a> indefinitely and rent an apartment, buy food, and have either a Korean or Japanese GF.<\/p>\n<p>Bummer. The proposal follows the 28M Upbit breach, which exposed a <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/crypto-presales\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">regulatory gap large<\/a> enough to erode public confidence in the country\u2019s digital asset markets.<\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">20+ Next Crypto to Explode in 2025<\/a><\/strong><\/p>\n<h2>What\u2019s Next For South Korea Crypto? Regulators Push Bank-Level Accountability Into Crypto<\/h2>\n<figure style=\"width: 923px\" class=\"wp-caption alignnone\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.sphericalinsights.com\/images\/rd\/south-korea-cryptocurrency-market.png\" alt=\"South Korea Cryptocurrency Market Outlook, Insights, Size, Scope\" width=\"923\" height=\"525\"><figcaption class=\"wp-caption-text\">(Source: <a class=\"general-link\" href=\"https:\/\/www.sphericalinsights.com\/reports\/south-korea-cryptocurrency-market\" target=\"_blank\" rel=\"noopener nofollow\">X<\/a>)<\/figcaption><\/figure>\n<p>The Financial Services Commission plans to introduce no-fault liability rules that mirror South Korean requirements for banks and electronic payment companies. Under the framework, an exchange must repay victims unless the user acted with clear gross negligence, creating automatic and predictable consumer protection.<\/p>\n<blockquote>\n<p>\u201cSystem security is the lifeline of virtual asset markets,\u201d said Governor Lee Chan-jin of the Financial Supervisory Service.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/17.0.2\/72x72\/1f6a8.png\" alt=\"\ud83d\udea8\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\">BREAKING: <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/17.0.2\/72x72\/1f1f0-1f1f7.png\" alt=\"\ud83c\uddf0\ud83c\uddf7\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\">South Korea to impose bank-level liability on crypto exchanges after the Upbit hack.<\/p>\n<p>This would require  crypto firms to repay users for hack losses even if they\u2019re not at fault. <a href=\"https:\/\/t.co\/9rJEerJjKD\" rel=\"nofollow\" target=\"_blank\">pic.twitter.com\/9rJEerJjKD<\/a><\/p>\n<p>\u2014 Coin Bureau (@coinbureau) <a href=\"https:\/\/twitter.com\/coinbureau\/status\/1997575746748022882?ref_src=twsrc%5Etfw\" rel=\"nofollow\" target=\"_blank\">December 7, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The reason for the legislative overhaul is\u00a0<span style=\"margin: 0px;padding: 0px\">straightforward: crypto exchanges are not subject to the\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-meme-coins\/\" target=\"_blank\" rel=\"noopener\">Electronic Financial Transactions Act<\/a>, meaning regulators lacked the<\/span>\u00a0authority to order compensation after the Upbit hack.<\/p>\n<p>CoinDesk data helps illustrate the structural weakness. Between 2023 and September 2025, South Korea\u2019s five largest exchanges reported twenty separate IT incidents. More than 900 users suffered losses exceeding\u00a0 $29 Mn.<\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-crypto-to-buy\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Top 20 Crypto to Buy in 2025<\/a><\/strong><\/p>\n<p>Exchange-level breakdown from regulatory disclosures:<\/p>\n<ul>\n<li><strong><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/analysis\/top-crypto-stocks\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Upbit<\/a>:<\/strong> six incidents affecting 616 users<\/li>\n<li><strong>Bithumb:<\/strong> four incidents affecting 326 users<\/li>\n<li><strong>Coinone:<\/strong> three incidents affecting 47 users<\/li>\n<\/ul>\n<p>The November 27 breach alone saw 44.5 billion won in Solana-based assets drained in less than one hour.<\/p>\n<p><strong><span data-preserver-spaces=\"true\">DISCOVER:\u00a0<\/span><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\"><span data-preserver-spaces=\"true\">Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025<\/span><\/a><\/strong><\/p>\n<h2>Asian Macro Pressure Meets Crypto Regulation<\/h2>\n<p><iframe loading=\"lazy\" title=\"JAPAN IS BUYING BITCOIN!! HUGE $9B SELL DID NOTHING!!\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/b4GbQx3amN0?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>The timing is significant. Korean retail flows have slowed across major centralized platforms this quarter, while global risk assets have been wobbling under shifting Federal Reserve expectations. The lack of spot liquidity across BTC and ETH markets makes regulatory confidence more important for attracting domestic institutional players.<\/p>\n<p>If passed, South Korea\u2019s no-fault liability model would be one of the world\u2019s toughest crypto regimes.<\/p>\n<p><strong>EXPLORE:<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/bitcoin-btc\/seeking-a-career-change-become-a-bitcoin-bounty-hunter-in-fordow-iran\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\"> Seeking a Career Change? Become a Bitcoin Bounty Hunter in Fordow, Iran<\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n         South Korea Crypto is preparing one of the strictest investor-protection regimes in global crypto, drafting legislation \u2026     <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n         If passed, South Korea\u2019s no-fault liability model would be one of the world\u2019s toughest crypto regimes.    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/altcoins\/seoul-are-planning-a-crypto-raid-is-south-korea-crypto-safu\/\">Seoul Are Planning a Crypto Raid: Is South Korea Crypto SAFU?<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>South Korea crypto enforcers are preparing one of the strictest investor-protection regimes in the World, drafting legislation that would force exchanges to fully compensate users for losses from hacks or system failures without requiring proof of negligence. This really throws a wrench in my plans of making just enough money passively to hop between Seoul [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-62392","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/62392","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=62392"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/62392\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}