KakaoBank Plans Stablecoin Launch In South Korea

KakaoBank is planning to launch stablecoin with the provision of both issuance and custody for a Korean won-pegged digital asset. In a Cointelegraph report, the bank's chief financial officer, Kwon Tae-hoon, announced during its first-half earnings call in 2025 that the company was searching for ways to engage actively in the digital asset economy. This initiative is being spearheaded by a special Stablecoin Task Force comprising KakaoPay and the company's other group affiliates.

The development follows South Korea's contemplation of the new Digital Asset Basic Act, which will enable banks to issue stablecoins collateralised by the local currency. The law, once enacted, will compel banks to hold a minimum amount of equity, provide guarantees of redemption and receive approval from the nation's financial regulator prior to issuing any stablecoins. Cointelegraph previously reported KakaoBank had already made trademark applications involving stablecoins back in June 2025.

KakaoBank's foray into digital currency is not something new. It has already participated in the Bank of Korea's pilot of a central bank digital currency (CBDC) and has put in place robust know-your-customer and anti–money laundering infrastructure in the past three years. With over 25 million customers, close to half the population of South Korea, and assets under management of over $46 billion, the bank is in a good position to play this new role.

Crypto Scammers Are Using a Bot To Steal Digital Assets

There's a new scam going around on YouTube, stealing cryptocurrency from users. Fake Ethereum trading bots are being advertised by scammers as AI-powered and capable of generating huge returns from ETH trading. The videos appear legitimate; they essentially contain genuine-looking testimonials, user feedback, and step-by-step tutorials on how to install and fund the bot. On the surface, it all seems legit, which is exactly how scammers lure people in.

But in reality, these bots are programmed to launder money from users' wallets. The scam is carried out by requesting the user to authorise a smart contract, which opens the door for the scammer to access their Ethereum funds. Once the user has given approval, the scammer can move the money without any additional approval. This type of exploitation takes advantage of the user's misinterpretation of the way smart contract approvals function.

The fact that these YouTube videos seem like they are posted official channels, make the scam more sophisticated and harder to label as 'fake'. Cointelegraph reported that such fraudulent bots typically include appealing websites, downloadable programs, and even customer support chats to present themselves as real.

The victims reportedly lost thousands of dollars, and the losses are likely to increase as such scams are becoming increasingly sophisticated. The scammers employ simple coding skills instead of any complex technologies. The viewers are requested to double-check any application or platform that demands wallet access, particularly the ones that are advertised by unofficial or questionable YouTube channels.

Tornado Cash Co-Founder Can Face Future Trials: DOJ

Roman Storm, a co-founder of the cryptocurrency mixer service Tornado Cash, has been convicted on the account of conspiring to run an unlicensed money-transferring business. Cointelegraph reports that the United States District Court for the Southern District of New York jury was unable to agree on two other charges: conspiracy to commit money laundering and conspiracy to violate US sanctions laws, and thus rendered a partial mistrial.

Storm was originally alleged by the US Department of Justice (DOJ) in 2023 for supposedly assisting North Korean hackers in laundering billions of dollars via Tornado Cash. The cryptocurrency mixer platform, which was created to enhance transaction anonymity on Ethereum, was accused of being exploited by the Lazarus Group to circumvent sanctions and conceal illicit funds.

After several days of deliberations, the jury delivered only a single conviction. The presiding judge did not remand Storm to custody but permitted him to stay free on bail owing to his cooperation, family connections in the US, and because he had already surrendered his passport.

According to Cointelegraph, DOJ now has the option to go for a retrial on the two charges which remain outstanding. If they opt to do so, a second trial could be set. Storm's attorneys, meanwhile, have announced they are planning to appeal the existing conviction.

Storm has a maximum sentence of five years in jail on the count for which he was found guilty. The sentencing date has yet to be scheduled. The result of the possible retrial would decide the extent of his legal fate.