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Crypto

Token securities OTC trading capped at 10 million won a year; stocks, bonds and funds issuance allowed

South Korean financial authorities set a retail investor limit for token-securities over-the-counter trading ahead of the system’s launch in February next year, capping annual net purchases at 10 million won per exchange. The scope of token-securities issuance will expand from fractional investment securities to include conventional securities such as stocks, bonds and funds. Regulators will also broaden licensing categories for OTC venues and spell out registration requirements for issuer account managers and distributed ledgers.

Finance

Shinhan Bank data leak raises concerns over internal controls

Shinhan Bank confirmed a leak of personal and credit information affecting about 25,000 customers after an abnormal method was used to bypass authentication and access some services. The leaked data include names, phone numbers, annual income and calculated loan limits, as well as 66 resident registration numbers and 97 CI linkage identifiers. South Korea\'s Financial Supervisory Service began an emergency on-site inspection. The incident is expected to raise questions about Shinhan Bank\'s information protection and internal control systems.

Crypto

Korea digital asset market cap down 33 percent in H1, trading volume falls 44 percent

South Korea’s digital asset market saw sharp declines in the first half of the year, with total valuation down 33 percent to 58.9 trillion won and trading volume down 44 percent to 555 trillion won. Average daily trading also fell. Won deposits dropped 35 percent. The number of tradable user accounts rose 0.4 percent to 11,175,000. Exchange revenue and operating profit declined, and the number of circulating digital assets decreased.