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The South Korean Minister of Strategy and Finance has met with the governor of the People’s Bank of China to discuss and share economic policies including cryptocurrency countermeasures. While China has imposed strict regulations on cryptocurrency trading, including closing down exchanges, South Korea has adopted a less strict approach. Also read: Japan’s DMM Bitcoin Exchange Opens … Read more
As both cryptocurrency and blockchain technology become more and more mainstream, several projects are pioneering the push to incorporate this revolutionary tech into economies, markets, and industries worldwide. As international conglomerates, financial institutions, and national governments begin to incorporate blockchains, it is likely that this fusion will only grow. One such cryptocurrency that has already seen adoption in … Read more
A South Korean court has ruled that bitcoin has an economic value for the first time. This overturned an earlier court ruling which did not recognize the digital currency. The case involves the confiscation of 191 bitcoins. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Bitcoin’s Status Re-Examined The Suwon District Court … Read more
Korean electronics giant Samsung is the latest chip manufacturer to enter the bitcoin mining hardware market. The company’s foundry has reportedly already began producing ASIC chips for a Chinese client earlier this month. Also Read: Vegetables on a Blockchain ICO Exit Scams After Paying People to Write On Their Bodies Samsung Bitcoin Chips Samsung Electronics … Read more
The New York State Department of Financial Services has asked two South Korean financial authorities to share cryptocurrency-related data they obtained from their recent inspections of six major Korean banks. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies The US Wants South Korean Crypto Data The New York State Department of Financial … Read more
The new South Korean cryptocurrency account system has entered into force nationwide today, ending the current practice that allowed for anonymous trading of cryptocurrencies. Traders must open real-name accounts at the same banks as their exchanges in order to deposit money to trade cryptocurrencies. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies … Read more
The number of cryptocurrency exchanges participating in self-regulation has nearly doubled in South Korea. The crypto self-regulation efforts are led by the Korean Blockchain Association which has recently launched with 66 members. The association also plans to develop standard price indices for the main cryptocurrencies. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 … Read more
The South Korean National Pension Fund has been indirectly investing billions of won in cryptocurrency exchanges such as Upbit, Bithumb, and Korbit. This was revealed amid the country’s regulators continually releasing regulatory measures for cryptocurrencies. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto Regulations Investments In Crypto Exchanges Amid South Korean regulators pushing … Read more
The South Korean Communications Commission has conducted a survey of major cryptocurrency exchanges in the country and found them to have insufficient customer data protection. Eight exchanges have been sanctioned, with 30 days to resolve their issues and safeguard their systems. Also read: Cryptocurrency Activities Will Be Legal and Tax Free in Belarus Starting in March … Read more
The South Korean prime minister has ordered a new code of conduct to be prepared and implemented specifically to address the actions of government employees regarding cryptocurrency regulations. This follows the recent case of possible insider trading which is being investigated. Also read: Cryptocurrency Activities Will Be Legal and Tax Free in Belarus Starting in March … Read more
