Category: Asia


South Korean Governor Becomes the First Politician to Disclose Publicly His Cryptocurrency Holdings in the Country


South Korean Governor Becomes the First Politician to Disclose Publicly His Cryptocurrency Holdings in the CountryRegardless of the political turmoil that arose in South Korea due to the crypto-related regulations, a leading politician had come forward to reveal that he had made investments in virtual currencies publicly. Won Hee-ryong, the Governor of Jeju Island, unveiled that he invested in four different cryptocurrencies. Wong Plans to Keep Updating People via Youtube […]


South Korean Deputy Prime Minister Eases Anti-Crypto Rhetoric, Aims to Create More Domestic Market Opportunities


South Korean Deputy Prime Minister Eases Its Anti-Crypto Rhetoric, Aims to Create More Opportunities on Domestic MarketsThe South Korean government seems to be easing its anti-crypto tone, as the Deputy Prime Minister came forward with a statement that opened the doors for future open dialogue on virtual currency topics. Hong Nam-ki unveiled that officials are assessing ways to get young people into “domestic asset markets” and thus bringing more opportunities in […]


Chinese Internet Cafe Owners Deal With the Pandemic Crisis by Using Their Facilities to Mine Cryptocurrencies


Chinese Internet Cafe Owners Are Dealing With the Pandemic Crisis by Using Their Facilities to Mine CryptocurrenciesThe Coronavirus pandemic has driven people to take advantage of new business lines to deal with the economic crisis, and cryptocurrency is once again a headliner. Internet cafe owners in China are using their facilities to set up crypto mining farms after temporarily shutting down in 2020. Owners Are Earning Around $6,200 Monthly According to […]


South Korean Ministries ‘Do Not Want’ to Take Charge of Crypto-Related Regulation, Claims Official


No South Korean Ministries Want to Take Care of Crypto-Related Regulation Problems, Claims OfficialThe crypto regulation crisis is on fire in South Korea, as politicians have struggled to reach agreements with top government officials to ease rulings. A local media outlet reveals that South Korean ministries “do not want” to take charge of the country’s digital assets’ regulation, after several meetings held in the last few days. Prime […]




South Korean Banking Association Concerned Over Surge of the Altcoin Trading Frenzy


South Korean Banking Association Concerned Over Surge of the Altcoin Trading FrenzyA banking association in South Korea recently added weight to regulatory discussions across the country, raising concerns about the high altcoin trading volume. The Korea Federation of Banks (KFB) requested its members to audit trading volumes through their crypto exchanges’ customers’ altcoin activity. Altcoins Trading Volume Outperformed Bitcoin Last Weekend in South Korea According to […]


Japanese Assembly Members Seek to Make Tokyo a ‘Cryptocurrency Trading Center’


Japanese Assembly Members Seek to Make Tokyo a 'Cryptocurrency Trading Center'Japan is steadily becoming an area of interest for the cryptocurrency industry, and a politician in the capital city is looking to strengthen the trend. A member of the Tokyo Metropolitan Assembly wants to transform the Japanese capital into a “trading center” for cryptos. Blockchain as a ‘Growth Strategy’ to Create Industry Hub Yuu Ito, […]


Kazakhstan Is Preparing the Launch of a CBDC Pilot With Private Financial Companies


Kazakhstan Is Preparing the Launch of a CBDC Pilot With Private Financial CompaniesCentral bank digital currencies (CBDCs) are steadily becoming a serious discussion among governments globally, with Kazakhstan as the latest country unveiling its plans. The National Bank of Kazakhstan is making preparations to launch a CBDC pilot program soon. The National Bank Released a Public Consultation Paper According to the announcement published on their website, the […]



Vietnam Plans to Regulate Digital Currencies After Commissioning a Crypto Research Group


Vietnam Plans to Regulate Cryptocurrencies After Commissioning Research GroupVietnam is treading waters into the cryptocurrency industry, as the government recently commissioned a research group for the purpose. The Vietnamese Ministry of Finance is conducting an in-depth study of cryptocurrencies for regulation purposes. One Million Vietnamese Are Reportedly Crypto Users According to ASEAN Briefing, the ministry seeks to gather enough data to clearly see […]


South Korean Police Raid Crypto Exchange Allegedly Involved in a $214M Multi-Level Marketing Fraud


South Korea Police Raid a Crypto Exchange Allegedly Involved in a $214m Multi-Level Marketing FraudAuthorities in South Korea have launched a major raid against a domestic crypto exchange allegedly involved in a millionaire multi-level marketing (MLM) fraud. The police accuse V Global platform of running an illicit operation that reportedly stole hundreds of millions of dollars from investors. Masterminds Could Have Defrauded Over 40,000 People According to Yonhap, police […]


South Korean Ruling Party Contemplates Postponing Crypto Tax in a Bid to Regain Younger Votes


South Korean Ruling Party Contemplates to Postpone Crypto Tax Timing in a Bid to Regain Younger VotesSouth Korean political parties are now battling to catch younger votes amid the tough stance among higher government spheres toward digital currencies. As voters are disappointed by how parties are handling the issue, one of them has taken a step forward by talking about the forthcoming crypto tax. The Democratic Party’s Expectations on Cryptocurrencies According […]


Beijing Is Collecting Data From Local Datacenters Involved in Cryptocurrency Mining Activities


Beijing's Government Is Collecting Data From Local Datacenters Involved in Cryptocurrency Mining ActivitiesAuthorities in Beijing have been conducting checks on cryptocurrency mining datacenters to assess and understand its energy consumption and thus the impact on the electric infrastructure. Although it was reported as a rumor by international media outlets, Chinese state media confirmed it. Authorities Sent an ‘Emergency Note’ to Three Biggest Telecom Operators As first reported […]



Former Employees From Major South Korean Firms Quit Their Jobs After Pocketing Millions in Crypto Profits


Former Employees From Major South Korean Companies Quit From Their Jobs After Pocketing Millionaire Profits in CryptoSouth Korea’s crypto-sphere has been witnessing a volatile environment in terms of regulatory moves, as bitcoin prices and other altcoins are also having wild moves. Such a scenario hasn’t stopped the country’s middle class to profit from the crypto market, even with very successful stories. One of the Interviewees Risked His Life Savings in Cryptos […]



Crypto Fraud Reports in South Korea Surged Over 41% in 2020, Says Financial Watchdog


Crypto Fraud Reports in South Korea Surged Over 41% in 2020, Says Financial WatchdogAlthough bitcoin prices plummeted over the weekend, the overall bull-run remains alive, as well as the crypto-related fraud cases in South Korea. The latest figures by the domestic financial watchdog show that such incidents are still on the rise. Police to Dedicate a Special Unit to Investigate Crypto Frauds According to Asia Kyungjae, the Financial […]


South Korean City Threatens to Seize Cryptos From Tax Evaders


South Korean City Threatens to Seize Cryptos From Tax EvadersCrypto tax evasion is becoming a hot potato for the authorities in some Asian countries, such as Japan and South Korea. A South Korean city is now actively fighting against tax evaders who are suspiciously reporting meager earnings in their filings. 511 Individuals in the Authorities’ Eyes According to Gugkje News, the authorities of Gyeongju, […]


Former South Korean Social Media Giant in Talks ‘With Major Gaming Companies’ to Implement Its Crypto


Former South Korean Social Media Giant in Talks 'With Major Gaming Companies' to Implement Its Crypto as an In-Game CurrencyA former South Korean social media giant is still keeping alive its promise to relaunch its business with the help of the cryptocurrency industry. A local media outlet reported that Cyworld is in talks with “major gaming companies” that involve crypto-related ventures. Company Also Plans to Launch Its Mainnet to Compete With Kakao According to […]



Study Finds South Koreans Aged 20-39 Mainly Invest up to $100 in Cryptocurrencies


Study Finds South Koreans Aged 20-39 Mainly Invest up to $100 in CryptocurrenciesSouth Korea’s “crypto boom” is a term that the local media has widely adopted to refer to the current hype seen across the Asian nation. In fact, a recent study unveiled a rising trend in the number of South Koreans making small-scale crypto investments. New Crypto Investors Seem Unafraid of Strict Regulations According to the […]



Major South Korean Bank BNK Busan Plans to Offer Banking Services to Domestic Crypto Exchanges


Major South Korean Bank BNK Busan Plans to Offer Banking Services to Domestic Crypto ExchangesThe South Korean crypto frenzy among the banking industry remains on fire, as another major bank is treading waters to offer banking services for crypto exchanges. The BNK Busan Bank launched a program that consists of visiting competitors’ banks that already offer it. BNK Busan Is Visting Its Competitors to Conduct the Research According to […]


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