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11 Mid-Size South Korean Crypto Exchanges Face Closure Amid Fear of Legal Action

The implementation of new regulatory policies for crypto exchanges in South Korea continues to haunt small and medium-sized crypto exchanges. As per a recent report from Korea Herald, a total of eleven mid-sized crypto exchanges may shut their operations amid growing regulatory scrutiny. The local report indicated that the country’s top regulatory watchdog Financial Services

The implementation of new regulatory policies for crypto exchanges in South Korea continues to haunt small and medium-sized crypto exchanges. As per a recent report from Korea Herald, a total of eleven mid-sized crypto exchanges may shut their operations amid growing regulatory scrutiny. The local report indicated that the country’s top regulatory watchdog Financial Services

News
News

Just-In: Korean Regulators Extend AML Guidelines for Foreign Crypto Exchanges

South Korean regulators continue to impose strict regulatory policies around the crypto space. Financial Services Commission (FSC), the top regulatory body in the country is now targeting foreign crypto exchanges using the national Korean Fiat. The chief regulator said any foreign exchange serving Korean customers must register with the country’s anti-money laundering body. The comments

South Korean regulators continue to impose strict regulatory policies around the crypto space. Financial Services Commission (FSC), the top regulatory body in the country is now targeting foreign crypto exchanges using the national Korean Fiat. The chief regulator said any foreign exchange serving Korean customers must register with the country’s anti-money laundering body. The comments

Uncategorized
Uncategorized

South Korea’s Fourth-Largest Bank to Offer Crypto Custody

Woori Bank of Woori Financial Group is now providing digital asset custody services (DACS) in a joint venture (JV) with a bitcoin-based fintech solutions provider Coinplug Inc. With a hike in popularity, Digital asset custody services are spreading across institutions in South Korea. South Korea’s KB Kookmin Bank, largest among the top four banks in

Woori Bank of Woori Financial Group is now providing digital asset custody services (DACS) in a joint venture (JV) with a bitcoin-based fintech solutions provider Coinplug Inc. With a hike in popularity, Digital asset custody services are spreading across institutions in South Korea. South Korea’s KB Kookmin Bank, largest among the top four banks in

Blockchain News
Blockchain News

Breaking: Top Executives of Bithumb Indicted in Hong Kong

The Hong Kong subsidiaries of South Korea’s largest exchange Bithumb are facing a lawsuit for breach of contract and top executives including the owner of the exchange have been indicted for committing fraud. The top executives face criminal charges for fraud worth 100 billion won. The lawsuit will be filed by the exchange’s former Thai

The Hong Kong subsidiaries of South Korea’s largest exchange Bithumb are facing a lawsuit for breach of contract and top executives including the owner of the exchange have been indicted for committing fraud. The top executives face criminal charges for fraud worth 100 billion won. The lawsuit will be filed by the exchange’s former Thai

south korea crypto regulation
News
south korea crypto regulation
News

Amid Strong Regulatory Action, South Korean Exchanges Warn About ‘Kimchi Coins’

Crypto exchanges in South Korea are having a tough time navigating through strong regulatory action initiated by authorities. As a resulted local crypto exchanges have started limiting services to some altcoins while classifying some as ‘kimchi coins’. Kimchi Premium is one of the most popular terms used in the South Korean crypto market. Being one

Crypto exchanges in South Korea are having a tough time navigating through strong regulatory action initiated by authorities. As a resulted local crypto exchanges have started limiting services to some altcoins while classifying some as ‘kimchi coins’. Kimchi Premium is one of the most popular terms used in the South Korean crypto market. Being one

News
News

Crypto Exchanges in South Korea Planning to Lodge a Constitutional Appeal Against the Gov

South Korean crypto exchanges may sue the government for passing the regulatory buck upon banks. Most of the crypto exchanges in South Korea fear closure owing to the new anti-money laundering regulations that require them to submit a document to prove they have a real banking account with the native banks by September 24. However,

South Korean crypto exchanges may sue the government for passing the regulatory buck upon banks. Most of the crypto exchanges in South Korea fear closure owing to the new anti-money laundering regulations that require them to submit a document to prove they have a real banking account with the native banks by September 24. However,

Bitcoin Korea
Altcoin News
Bitcoin Korea
Altcoin News

South Korea Executes Largest Crypto Seizure From Wealthy Tax Evaders

South Korean authorities are targeting wealthy tax evaders for back taxes and have confiscated nearly $47 million worth of crypto assets from 12,000 tax evaders, as per a report in Financial Times. The authorities deemed the recent crypto seizure as the largest in the history of the country. The crypto seizure drive was initiated by

South Korean authorities are targeting wealthy tax evaders for back taxes and have confiscated nearly $47 million worth of crypto assets from 12,000 tax evaders, as per a report in Financial Times. The authorities deemed the recent crypto seizure as the largest in the history of the country. The crypto seizure drive was initiated by

south korea crypto regulation
Regulation News
south korea crypto regulation
Regulation News

Breaking: All 200 South Korean Exchanges May Shut Down Says Regulator

The 200 crypto exchanges in South Korea may face closure by September as per Eun Sung-soo, the chair of South Korea’s Financial Services Commission. The decision would be based on the new anti-money laundering laws(AML) that came into force last year and also included cryptocurrencies. As per new regulations, crypto exchanges operating in the country

The 200 crypto exchanges in South Korea may face closure by September as per Eun Sung-soo, the chair of South Korea’s Financial Services Commission. The decision would be based on the new anti-money laundering laws(AML) that came into force last year and also included cryptocurrencies. As per new regulations, crypto exchanges operating in the country

South Korea
Altcoin News
South Korea
Altcoin News

Just In: South Korea Releases World’s First Govt. Led DeFi Research

The South Korean Ministry of Science and NCT published a research paper on DeFi today making it the first government-led DeFi research. The local report reads: “The Ministry of Science and ICT and the Korea Internet & Security Agency published the “Blockchain-based innovative financial ecosystem research paper” on January 29. This is the world’s first

The South Korean Ministry of Science and NCT published a research paper on DeFi today making it the first government-led DeFi research. The local report reads: “The Ministry of Science and ICT and the Korea Internet & Security Agency published the “Blockchain-based innovative financial ecosystem research paper” on January 29. This is the world’s first

Bitcoin News
Bitcoin News

Breaking: Multi-Billion Dollar Gaming Conglomerate Preparing to Acquire 65% Stake in Bithumb

Bithumb, the largest South Korean crypto exchange is reportedly in talks with Nexon, a multi-billion dollar gaming conglomerate as per several local media reports. The report says Nexon plans to take 65% of Bithumb. The media reports suggest that Nexon signed a Memorandum of Understanding (MOU) at the start of the month which would allow

Bithumb, the largest South Korean crypto exchange is reportedly in talks with Nexon, a multi-billion dollar gaming conglomerate as per several local media reports. The report says Nexon plans to take 65% of Bithumb. The media reports suggest that Nexon signed a Memorandum of Understanding (MOU) at the start of the month which would allow

Bitcoin News
Bitcoin News

South Korean Whales Accumulating BTC on Exchanges, Can Coinbase Buyers Hold Bitcoin Above 30k?

Bitcoin is currently trying to solidify its position above $32,000 after experiencing high volatility over the past couple of days after the $5,000 price crash. The price volatility is primarily because of Asian whales dumping large portions of their bitcoin holdings on exchanges during the Asian market time which results in a dip in bitcoin

Bitcoin is currently trying to solidify its position above $32,000 after experiencing high volatility over the past couple of days after the $5,000 price crash. The price volatility is primarily because of Asian whales dumping large portions of their bitcoin holdings on exchanges during the Asian market time which results in a dip in bitcoin

South Korea
Regulation News
South Korea
Regulation News

South Korea’s Digital Won In Works; Bank Of Korea Sets Up A CBDC Advisory Group

South Koran central bank, Bank of Korea sets up a committee of six to probe the legalities pertaining to the launch of a potential CBDC.  South Korean CBDC In The Works? Central Bank Digital Currency popularly known as CBDC has evidently become a new field of interest for many countries. While authorities have been dissing

South Koran central bank, Bank of Korea sets up a committee of six to probe the legalities pertaining to the launch of a potential CBDC.  South Korean CBDC In The Works? Central Bank Digital Currency popularly known as CBDC has evidently become a new field of interest for many countries. While authorities have been dissing

News
News

South Korean Bank To Set Up Consortium To Fuel Development Of Crypto Exchange

South Korea’s NH Nonghyup Bank has signed a memorandum of understanding with a law firm and blockchain in the country to facilitate research as well as the development of cryptocurrency exchanges.  South Korean Bank Targets Local Crypto Industry Cryptocurrencies have taken the world by storm. From associating these digital assets with illicit activities on the dark

South Korea’s NH Nonghyup Bank has signed a memorandum of understanding with a law firm and blockchain in the country to facilitate research as well as the development of cryptocurrency exchanges.  South Korean Bank Targets Local Crypto Industry Cryptocurrencies have taken the world by storm. From associating these digital assets with illicit activities on the dark

Bitcoin News
Bitcoin News

South Korea Finalizes Pro-Cryptocurrency Law Amidst CoronaVirus Concerns, Bullish Signs for Bitcoin?

South Korea has finalized revisions to a bill that reinforces positive sentiments toward the nation’s burgeoning cryptocurrency sector. Despite the pandemic of coronavirus affecting the cryptocurrency markets, this may be an opportune moment for Bitcoin investors in South Korea. Revised and Revamped After a cabinet meeting on March 17, 2019, South Korean officials approved amendments

South Korea has finalized revisions to a bill that reinforces positive sentiments toward the nation’s burgeoning cryptocurrency sector. Despite the pandemic of coronavirus affecting the cryptocurrency markets, this may be an opportune moment for Bitcoin investors in South Korea. Revised and Revamped After a cabinet meeting on March 17, 2019, South Korean officials approved amendments

world crypto
Editors' Picks
world crypto
Editors' Picks

Here Are The Top Countries Leading Crypto Adoption In 2020

Over the past three or four days there has been wild talk in cryptocurrency regulation as India, France and South Korea all witnessed pro-crypto regulations set in place. The three countries are part of the five top countries making waves in blockchain and crypto regulation in 2020 so far. 5. Panama One of the favorite

Over the past three or four days there has been wild talk in cryptocurrency regulation as India, France and South Korea all witnessed pro-crypto regulations set in place. The three countries are part of the five top countries making waves in blockchain and crypto regulation in 2020 so far. 5. Panama One of the favorite

South Korea
Bitcoin News
South Korea
Bitcoin News

Bitcoin (BTC) Hits Key Resistance At $9,100 As South Korea Allegedly Legalizes Crypto, Bullish Signals?

Bitcoin (BTC) gained 3% in the past day to set an intraday high price of $9,155 USD following reports that the South Korean parliament passed a law legalizing cryptocurrencies in the country. No official reports have been released yet but BTC bulls are showing rage in the market, pushing along the rest of the market

Bitcoin (BTC) gained 3% in the past day to set an intraday high price of $9,155 USD following reports that the South Korean parliament passed a law legalizing cryptocurrencies in the country. No official reports have been released yet but BTC bulls are showing rage in the market, pushing along the rest of the market

Ripple-XRP South Korea
Altcoin News
Ripple-XRP South Korea
Altcoin News

Ripple Cements Their Presence in SE Asia With New Partnerships in South Korean

Ripple Inc. is hard at marketing and busy cementing their position in one of the densest parts of the world: the Asia Pacific, and specifically South Korea. With RippleNet their ultimate plan and On Demand Liquidity (ODL) close to their chest, the project’s leaders have zeroed in on South Korea and have consequently announced three

Ripple Inc. is hard at marketing and busy cementing their position in one of the densest parts of the world: the Asia Pacific, and specifically South Korea. With RippleNet their ultimate plan and On Demand Liquidity (ODL) close to their chest, the project’s leaders have zeroed in on South Korea and have consequently announced three

South Korea
Bitcoin News
South Korea
Bitcoin News

South Korean Investors Turn to Blockchain Development as Crypto Market Suffers

South Korea’s cryptocurrency market sentiment has drastically deteriorated following 2018’s crypto winter that saw Bitcoin’s price plummet by over 80%, dragging the rest of the market along with it. The grave loss of funds in a market wipeout has however not caused total annihilation of the market as investors moved their funds towards blockchain development.

South Korea’s cryptocurrency market sentiment has drastically deteriorated following 2018’s crypto winter that saw Bitcoin’s price plummet by over 80%, dragging the rest of the market along with it. The grave loss of funds in a market wipeout has however not caused total annihilation of the market as investors moved their funds towards blockchain development.

Upbit
Altcoin News
Upbit
Altcoin News

Hacked Exchange Upbit Announces Major Steps To Cover Lost ETH

In a recent development, Upbit has notified users of the theft of 342,000 Ether (ETH) from its hot wallet. Furthermore, the incident has been confirmed in an official statement by the CEO of Upbit’s operator, Dunamu.  Losses Will Be Covered by Corporate Assets Lee Seok-woo, CEO of Upbit’s operator mentioned revealed that: “At 1:06 PM

In a recent development, Upbit has notified users of the theft of 342,000 Ether (ETH) from its hot wallet. Furthermore, the incident has been confirmed in an official statement by the CEO of Upbit’s operator, Dunamu.  Losses Will Be Covered by Corporate Assets Lee Seok-woo, CEO of Upbit’s operator mentioned revealed that: “At 1:06 PM

hack
Altcoin News
hack
Altcoin News

Hack or FUD? Upbit Suspends Deposits & Withdrawals Post 60 Billion Won in Crypto Withdrawal

As per recent reports, the South Korean cryptocurrency exchange Upbit has stopped trading after the withdrawal of 60 Billion Won. Furthermore,  the exchange released a notice at 04:30 UTC today suspending crypto deposits and withdrawals due to server check.  KISA Investigates Crypto community suspects that the exchange has been hacked and the Korea Internet &

As per recent reports, the South Korean cryptocurrency exchange Upbit has stopped trading after the withdrawal of 60 Billion Won. Furthermore,  the exchange released a notice at 04:30 UTC today suspending crypto deposits and withdrawals due to server check.  KISA Investigates Crypto community suspects that the exchange has been hacked and the Korea Internet &