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Line and Kakao, two of the largest messaging applications in Asia alongside WeChat, with more than 90 percent of the market share in Japan and South Korea respectively, are battling for dominance in the blockchain sector with unique partnerships and decentralized applications. Last week, Line, a Japanese messaging app that has more than 200 million … Read more
A major South Korean exchange, Upbit, has paid six people for reporting fraudulent crypto-related schemes. Ten cases were reported to the exchange and six of them were selected. Upbit also recently partnered with Thomson Reuters to operate a system to support transparent crypto transactions. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Upbit Paid … Read more
South Korean cryptocurrency exchange Bithumb is reportedly re-evaluating its strategy to launch its own coins through a corporation in Singapore, following news of fraud that could have serious side effects to both companies. Under the current laws, Bithumb coins will still be subject to Korean regulation whether launched abroad or not. Also read: Yahoo! Japan Confirms … Read more
A South Korean cryptocurrency exchange said it suffered an internal system error which affected withdrawals. The exchange claimed that users were able to withdraw five times the number of coins they requested. It is asking for the coins back, and will seek civil liabilities and damages from users who do not voluntarily return the coins. … Read more
South Korean cryptocurrency exchange Bithumb is launching a P2P payment platform for social media including social networking sites and blogs. The exchange is also preparing to sell 12,500 kinds of mobile vouchers from 600 brands. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Social Media Crypto Payment System The second largest crypto … Read more
South Korea’s financial watchdog today ordered a dozen cryptocurrency exchanges to update their adhesion contracts, which the agency claims causes problems for users in withdrawals, and generally puts the businesses way ahead of consumers on all levels. Also read: Trezor to Implement Bitcoin Cash Addresses South Korea Orders Exchanges to Revise Adhesion Contracts The Republic of … Read more
The Kakao-backed cryptocurrency exchange Upbit has launched a system to reward users for identifying fraudulent multi-level schemes related to cryptocurrencies. The exchange has already identified and reported 20 such schemes to the police. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Reporting Illegal Schemes South Korea’s largest cryptocurrency exchange Upbit has invited … Read more
Responding to media reports that South Korean internet giant Kakao plans to raise funds using an initial coin offering (ICO) abroad, the country’s financial regulator reportedly warned that the ICO could violate current cryptocurrency regulations. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies ICOs Abroad Could Still Violate Korean Laws Kakao Corp, … Read more
What a week for the peninsular nation, 대한민국 Republic of Korea. Moon Jae-in’s administration appears to have brokered a potential meeting between heads of state to avoid nuclear holocaust, and in more practical terms local media is widely reporting regional internet giant Kakao will deepen its involvement with cryptocurrency in South Korea by incorporating crypto … Read more
It has become apparent that companies tend to take the ICO funding route these days. If the Telegram ICO is any indication, the focus is now on issuing native tokens to sell to VCs and accredited investors. It seems Kakao wants to do the exact same thing, and it’s labeled its crowdfunding effort a “reverse ICO”. The Rise of the … Read more
