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Games & Commerce

Forum urges shift in game industry regulation, calls for more precise user protection

A forum of game industry experts said a planned full revision of South Korea's Game Industry Promotion Act should shift the system from regulation to promoting game culture and the industry. Participants also called for more detailed safeguards on web-board game rules, identity verification and legal guardian consent, and how a damage redress centre is run. They raised concerns about defining game over-immersion and the scope and expertise of the redress centre.

Crypto

FIU fines Coinone 5.2 billion won and imposes partial business suspension for 3 months

South Korea’s Financial Intelligence Unit (FIU) said on April 13 it decided to impose a 5.2 billion won fine on digital asset exchange Coinone and suspend part of its business for three months. It also decided to issue a disciplinary warning to the chief executive. During the suspension, existing customers can trade without restrictions, while new customers face temporary limits on external virtual-asset transfers.

Crypto

Bithumb signs MOU with Circle to strengthen Korea digital asset infrastructure

Bithumb said on April 13 it signed a memorandum of understanding with Circle Internet Group to explore cooperation opportunities related to digital asset infrastructure and stablecoin technology. Under the agreement, the two companies will jointly review measures to support stablecoin infrastructure and technical integration, including multichain functions within the Bithumb platform. They also plan to pursue initiatives to deepen understanding of the stablecoin and digital asset ecosystem.