Category: South Korea

How 5 Asian Countries Regulate Cryptocurrency

How 5 Asian Countries Regulate CryptocurrencyThe Financial Stability Board has detailed how its member countries regulate crypto assets, who the regulators are, and the scope of their oversight. Most countries have more than one government body monitoring and regulating different aspects of crypto activities. Among the board’s Asian member countries, India is the only one with no legal mandate to […]

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Samsung Launches Galaxy Series Preloaded With Cryptocurrency Wallet

Samsung Launches Galaxy Series Preloaded With Cryptocurrency WalletOn Wednesday, Feb. 20, the mobile phone manufacturing giant Samsung Electronics released its flagship smartphone, the Galaxy S10. Crypto enthusiasts will be pleased to hear that the new phone comes with the company’s proprietary Samsung Knox security system which stores blockchain-based private keys. Also Read: This ‘Faketoshi’ Signature Tool Lets Anyone Become Satoshi Nakamoto Galaxy S10 […]

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Localbitcoins Trade Surges in Latin America and East Asia

Localbitcoins Trade Surges in Latin America and East AsiaThe peer-to-peer (P2P) markets saw a surge in trade activity this past week, with the Localbitcoins markets of five countries posting record volume. The largest spikes were concentrated in the Latin American and Asian regions, however, the United States also posted its strongest monthly P2P volume since April 2018. Also Read: Nasdaq Stock Exchange to Start […]

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South Korea Central Bank Says CBDCs Will Disrupt Financial Integrity

South Korea Central Bank Says CBDCs Will Disrupt Financial IntegritySouth Korea’s central bank has warned that adopting a state-backed cryptocurrency as an official form of legal tender would threaten the country’s financial integrity. In a report, the Bank of Korea (BoK) said such a currency, also known as a central bank digital currency (CBDC), could result in a spike in interest rates and a […]

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Cryptocurrency Independence Under Threat As Regulation Encroaches

Cryptocurrency Independence Under Threat As Regulation SpreadsFor governments, cryptocurrency is becoming too mainstream to ignore and too chaotic to neglect. Across the world, government agencies are targeting crypto investors not only with taxes but mandatory registration and full disclosure rules. This new wave of regulation poses a contradiction in that some of cryptocurrency’s strongest traits have always been privacy and autonomy. […]

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South Korea Updates ICO Stance After 3-Month Investigation

South Korea Updates ICO Policy After 3-Month InvestigationThe South Korean government has updated its stance on initial coin offerings (ICOs) as well as announced the results of its 3-month investigation of ICO activities carried out by Korean companies. The government found that many companies have bypassed its ICO ban and conducted token sales overseas. Also read: Indian Supreme Court Moves Crypto Hearing, Community […]

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Airdrop Mishap Causes Korean Exchange to Accidentally Send BTC to Customers

Airdrop Mishap Causes Korean Exchange to Accidentally Send BTC to CustomersA South Korean crypto exchange mistakenly sent its customers BTC and other cryptocurrencies due to an error during an airdrop. Some users immediately sold the coins, causing the prices of a number of cryptocurrencies on the exchange to sharply fall. The exchange said, however, that the majority of customers have agreed to return the funds. […]

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Four Cryptocurrency Hotspots That Saw Tremendous Growth in 2018

Four Cryptocurrency Hotspots That Saw Tremendous Growth in 2018In the last few years, the cryptocurrency environment has changed drastically and there is a bunch of new cryptocurrency hotspots popping up across the globe. Gone are the days when certain territories such as Zug, Prague, and other blockchain hub cities dominated the headlines. Now a variety of different regions like Malta, South Korea, Hong […]

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Report: 70 to 80 Percent of South Korean Miners Shut Down in 2018

Report: 70 to 80 Percent of South Korean Miners Shut Down in 2018Chinese state television has sought to document the toll taken on South Korean cryptocurrency companies by 2018’s bear market, with Financial Channel (CCTV-2) producing a report detailing the challenges faced by Korean miners. According to the report, last year’s bear trend was further exacerbated by a 97.5 percent drop in Korean cryptocurrency premiums, driving between […]

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South Korea Ends Year With 6 Bills to Regulate Crypto Industry

South Korea Ends Year With 6 Bills to Regulate Cryptocurrency IndustrySouth Korea’s top financial regulator has exclusively shared with news.Bitcoin.com information about six cryptocurrency-related bills that have been submitted to the National Assembly. The most recent bill seeks to protect the rights of crypto owners and to ensure the safety and reliability of crypto transactions. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for […]

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Year in Review: 2018’s Top Cryptocurrency Stories

After an intense 2017, filled with cryptocurrency market spikes, the following year was loaded with letdowns as a great majority of digital assets plunged well over 80 percent in value since their all-time highs. 2018 was also filled with lots of headlines about digital currency regulations, exchange hacks, and postponed exchange-traded funds. Also read: Feed 7 […]

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South Korean Business School Launches Crypto MBA Program

South Korean Business School Launches Crypto MBA ProgramA major business school in South Korea is now offering a master’s degree in cryptocurrency. Crypto MBA is a one-and-a-half-year program that covers topics such as Bitcoin, Ethereum, smart contracts, crypto funds, Dapp planning, game theory, and how to write persuasive whitepapers. Meanwhile, the government is working on follow-up crypto regulations. Also read: Indian Supreme Court […]

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Officials at Top Korean Cryptocurrency Exchange Upbit Indicted for Fraud

Officials at South Korea’s largest cryptocurrency exchange, Upbit, have been indicted for fraud. They allegedly made bogus crypto orders worth approximately $226 billion and sold 11,550 BTC to around 26,000 investors. Upbit has denied the charges and insisted that it did not commit fraud, engage in wash trades, or trade cryptocurrencies it did not own. […]

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7 Major Exchanges in Korea to Create Healthy Cryptocurrency Ecosystem

7 Major Exchanges in Korea to Create a Healthy Cryptocurrency EcosystemSeven major crypto exchanges in South Korea have joined forces to create a sound cryptocurrency ecosystem. They have agreed on joint measures such as information sharing and real-time monitoring of abnormal transactions. Meanwhile, the Korean government is working on institutionalizing crypto exchanges. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Seven […]

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Bithumb Launches Voting Platform to Screen New Cryptocurrencies

Bithumb Launches Voting Platform to Screen New CryptocurrenciesMajor South Korean cryptocurrency exchange Bithumb has beta launched a public voting system for screening new coins to be listed on its exchange. The platform, Pickthumb, aims to boost transparency and fairness in Bithumb’s listing process. Five coins are currently being evaluated with the current voting round ending in nine days. Also read: Indian Supreme Court […]

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Korean Court Case Alleges Government’s ICO Ban Is Unconstitutional

Korean Court Case Alleges Government's ICO Ban Is UnconstitutionalA constitutional complaint has reportedly been filed in South Korea alleging that the government’s ban on initial coin offerings is unconstitutional. It has been more than a year since token sales were banned in the country but the government has yet to introduce any regulations for them, causing problems for startups. Also read: Indian Supreme Court […]

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Report: South Korea to Push for Major Adoption of Cryptocurrencies

Korea Roundup: Mongolian Government Visits Bithumb, New BTM, Hardware WalletSouth Korea will push for major cryptocurrency adoption, claims a new report, strengthening the spotlight on the tech hub which forms one of the most crypto-friendly countries in the world.  Also read: Korean Incoming Minister Confirms Crypto Taxation Plans South Korea’s Enthusiasm for Tech As one of the most innovative countries in the world, it’s no […]

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P2P Markets Report: Dumping Drives Record Volume Across Latin America and Asia

P2P Markets Report: Dumping Drives Record Volume Across Latin America and AsiaThe heavy selling pressure that has dominated the cryptocurrency markets in recent weeks has coincided with a surge in peer-to-peer (P2P) trade volume across the Localbitcoins markets in Asia and South America. Globally, higher trade activity over the past two weeks has also driven the strongest volume since September 2017, with roughly 12,116 BTC changing […]

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PR: Midex Launches EU Regulated Crypto to Fiat Exchange

Midex Launches EU Regulated Crypto to Fiat ExchangeMidex, an international company with HQs in Estonia and representatives in Asia, has announced the launch of the first EU regulated crypto-to-fiat exchange. With the trading performance of millions of operations per second, a wide range of deposit and withdrawal methods (wire transfers, payment cards, instant payments), support of the top trading pairs, and a robust security system, the platform is here to meet the needs of crypto beginners and professional traders.

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Korean Lawmaker Introduces Bill to Promote Crypto Trading

Korean Lawmaker Introduces Bill to Promote Cryptocurrency TradingA South Korean lawmaker has reportedly introduced a bill to promote cryptocurrency trading and the development of crypto exchanges. In addition to requirements such as capital, manpower, and internal systems, the bill proposes establishing a committee to promote and support crypto trading. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Promoting […]

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The Daily: Cloud Outage Affects Exchanges, Okex Launches ICO Information Platform

The Daily: Cloud Outage Affects Exchanges, Okex Launches ICO Information PlatformIn the Saturday edition of The Daily, we look at a technical issue with Amazon’s cloud services network that has forced two major South Korean crypto exchanges to temporarily go offline. In other news, Malta-based digital asset exchange Okex has launched a platform offering information on initial coin offerings and Estonia has issued licenses to […]

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‘Asia’s Amazon’ Starts Using Bithumb’s Payment Service for Cryptocurrency Users

'Asia’s Amazon' Starts Using Bithumb's Payment Service for Cryptocurrency UsersOne of South Korea’s largest cryptocurrency exchanges, Bithumb, has begun providing a cryptocurrency payment service to a major online marketplace it refers to as “Asia’s Amazon.” Korean users can use their cryptocurrencies held at the exchange to pay for purchases on Qoo10 using this service. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Qoo10 […]

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