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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 […]
The post Controversy Looms Over Bithumb Coins appeared first on Bitcoin News.
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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. […]
The post System Error at Korean Crypto Exchange Gave Users Free Coins appeared first on Bitcoin News.
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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 […]
The post Korean Crypto Exchange Launching Social Media P2P Payment System appeared first on Bitcoin News.
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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 […]
The post South Korea Orders 12 Crypto Exchanges to Revise Consumer Contracts appeared first on Bitcoin News.
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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 […]
The post South Korean Exchange Paying Users to Report Illegal Crypto Schemes appeared first on Bitcoin News.
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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, […]
The post Korean Regulator Warns Kakao’s ICO Abroad Could Violate Crypto Regulations appeared first on Bitcoin News.
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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 […]
The post South Korea Internet Giant Moves Deeper Into Crypto appeared first on Bitcoin News.
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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 Reverse ICO It is quite interesting to see how mainstream companies are trying to tackle the ICO industry as of right now. More specifically, companies – mainly tech giants – are more than eager to issue their own digital tokens these days, yet they are notPowered by WPeMatico
According to recent data collected by the South Korean government, the accumulated commission income of the country’s 30 cryptocurrency exchanges last year was 87.5 times that of the previous year. The vast increase in income and crypto transactions was largely contributed by the newcomer exchange backed by Kakao Corp. Also read: Indians Look to Buy […]
The post Revenues of Cryptocurrency Exchanges in South Korea Up 88-Fold appeared first on Bitcoin News.
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Most cryptocurrency investors in South Korea remain anonymous without moving their accounts to the government-mandated real-name system. So far, less than 10% of crypto traders have converted their virtual accounts into real-name ones. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies 8% Conversion Rate So Far The real-name system for cryptocurrency exchange […]
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