South Korea, Canada expand cyber ties amid crypto developments
South Korea and Canada have agreed to strengthen cooperation against cyber threats, including North Korea’s theft of virtual assets, following their inaugural cyber policy consultations.
According to News1, South Korea’s foreign ministry announced that the talks took place at its Seoul headquarters. Both sides agreed on the need for closer coordination to effectively counter cybercrimes—such as North Korea-linked crypto theft and online scams—as well as emerging cyber threats driven by artificial intelligence. They also committed to exploring concrete avenues for bilateral cooperation.
The delegations exchanged views on response mechanisms for the recent surge in cyber intrusions, sharing case studies on how such incidents have been handled. They also agreed to strengthen prevention efforts by improving information sharing and speeding up communication across multiple channels when incidents occur.
The foreign ministry noted that the meeting marks a significant step toward enhanced cybersecurity cooperation, as the two nations share policy approaches and explore practical collaboration under their comprehensive strategic partnership.
Bithumb staff form labor union
Meanwhile, employees in the crypto sector are beginning to organize to safeguard their rights.
An exclusive report by NewsWhoPlus revealed that a labor union has been established at Bithumb, one of South Korea’s major crypto exchanges. The union has affiliated with the Federation of Korean Public Trade Unions, which operates under the umbrella of the Federation of Korean Trade Unions.
The union stated it will serve as a forum to discuss and improve employee welfare and working conditions.
In response, Bithumb said it is reviewing reports of the union’s formation to gather more details. The company emphasized its respect for employees’ rights and affirmed it will respond in accordance with relevant laws and procedures.
Industry readies for stablecoin oversight
Elsewhere in the industry, companies are proactively positioning themselves for regulatory shifts. As South Korea’s Digital Asset Basic Act—the second phase of the country’s crypto legislation, which is expected to address assets like stablecoins—begins to take shape, businesses are moving early to prepare for the anticipated changes.
Edaily reported that Lambda256, an affiliate of Upbit operator Dunamu, is forming a strategic consultative group focused on stablecoins. To this end, the company has signed a tripartite memorandum of understanding (MOU) with the law firm Yulchon and SAS Korea.
Under the agreement, the partners will combine their expertise in blockchain technology, legal services, and data analytics. They aim to establish a joint framework to navigate key legal and regulatory issues surrounding stablecoins and other digital assets. This cooperation will encompass anti-money laundering (AML) protocols, financial crime prevention, internal controls, risk management, and the legal structuring of related product offerings.
On the financial and regulatory front, the partners plan to refine practical AML compliance and internal control measures for financial institutions. By continuously analyzing shifts in digital asset regulations and broader market trends, they intend to develop practical compliance frameworks that financial firms and other businesses can readily adopt.
