Report Finds Mining Activity and Bitcoin Exchange Development in North Korea

Report Finds Mining Activity and Bitcoin Exchange Development in North KoreaA report by South Korea’s state-run Korea Development Bank (KDB) suggests that North Korea has been mining cryptocurrencies, according to local media. In addition, a technology firm in the country is developing an exchange platform for bitcoin, while average citizens of North Korea have little knowledge of cryptocurrency, the report claims. Also read: Yahoo! Japan Confirms […]

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Commission Income From Crypto Accounts Jumped 36 Times for South Korean Banks

Commission Income From Crypto Accounts Jumped 36 Times for South Korean BanksSouth Korean banks have been providing virtual account services to cryptocurrency exchanges and earning commissions from them. According to data obtained by the country’s Financial Supervisory Service, banks made 36 times more in commission income from crypto exchanges last year than the previous year. Also read: South Korean Officials Caught Trading On Insider Knowledge of Crypto […]

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Strict Regulations Force South Korean Banks to Stop Servicing Cryptocurrency Exchanges

Strict Regulations Force South Korean Banks to Stop Servicing Cryptocurrency ExchangesFollowing the inspections of six major banks this week, South Korean regulators have uncovered some inadequate internal controls for handling cryptocurrency exchanges. Given the government’s strict rules, some banks have decided to stop providing services to cryptocurrency exchanges instead of overhauling their systems further to comply with the regulations. Also read: South Korea Urges 23 Countries, […]

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