Korbit – DIGIT INFO

South Korean Crypto Exchanges Delist WEMIX — Token Price Plunges by Nearly 70%

DIGIT — Fri, 25 Nov 2022 11:30:33 +0000

The Digital Asset Exchange Joint Consultative Body (DAXA), the South Korean association of crypto exchanges, announced on Nov. 24 that the WEMIX token would be delisted. In justifying the decision to delist WEMIX, the association claimed the information provided by the token’s issuer Wemade is false and has confused investors. Discrepancy Between WEMIX Circulating Supply […]

Go to Source

WEMIX token plunges 70% after it’s delisted by Korean exchanges

DIGIT — Fri, 25 Nov 2022 01:25:50 +0000

DAXA claimed that the circulating number of WEMIX exceeds what has been disclosed by Wemix, much to the chagrin of the issuers.

Go to Source

Report: South Korean Crypto Exchanges to Create Body to Preempt Another Terra LUNA Type of Collapse

DIGIT — Tue, 14 Jun 2022 11:30:25 +0000

Five South Korean cryptocurrency exchanges said they intend to create a consultative organization which will help prevent a repeat of a Terra LUNA-style token collapse. The organization is expected to achieve its objectives by applying standards that are endorsed by the crypto exchanges. Screening Guidelines Five of South Korea’s leading domestic cryptocurrency exchanges have said […]

Go to Source

Major Korean Exchanges Secure Real-Name Account Arrangements With Local Banks

DIGIT — Fri, 10 Sep 2021 09:30:56 +0000

Leading cryptocurrency exchanges in South Korea have reached agreements with Korean banks to maintain the issuance of real-name accounts, media reports revealed. The deals, although not yet permanent, will allow the trading platforms to register with financial authorities before the Sept. 24 compliance deadline. Bithumb, Coinone and Korbit Maintain Partnerships With Korean Banks Banks have […]

Go to Source

Bithumb to Ban Foreign Traders Failing Mobile Phone Identification

DIGIT — Sat, 04 Sep 2021 10:30:19 +0000

South Korean crypto exchange Bithumb said it will deny access to foreigners unable to verify their identities via mobile phone. The decision comes as the trading platform moves to comply with the country’s updated regulations coming into force later this month. Korean Exchange Bithumb Prepares to Register Under New Rules Foreign nationals who do not […]

Go to Source

30-somethings led crypto purchases at South Korean exchanges in 2021

DIGIT — Mon, 30 Aug 2021 17:15:00 +0000

The increased trading volume comes following the country’s Financial Services Commission requiring crypto trading platforms to register as digital asset service providers before Sept. 24.

Go to Source

South Korea’s Financial Regulator Holds Closed-Door Meeting With 20 Crypto Exchanges

DIGIT — Fri, 04 Jun 2021 23:00:52 +0000

Regional reports disclose South Korea’s Financial Services Commission (FSC) had a closed-door meeting with roughly 20 different cryptocurrency exchanges on June 3. The report highlights that virtual asset business operators (VASPs) that attended the meeting all had ISMS (Information Security Management System) certification. South Korean Regulator Holds a Closed-Door Meeting With 20 VASPs A report […]

Go to Source

South Korea’s ‘Kimchi Premium’ Returns, BTC Prices Up 8% Higher Than Global Average

DIGIT — Mon, 24 May 2021 14:54:43 +0000

As cryptocurrency regulation heats up worldwide, South Korean officials have been increasing regulatory discussions concerning the swelling crypto economy. While digital currency markets like bitcoin have tumbled in value in recent times, global crypto market prices have increased across the board on Monday. In South Korea, crypto-assets like bitcoin are once again experiencing a ‘kimchi […]

Go to Source

South Korea’s Bitcoin ‘Kimchi Premium’ Reappears, Korbit and Bithumb Exchange Volumes Spike

DIGIT — Mon, 26 Apr 2021 20:30:07 +0000

During the first week of April, South Korea’s ‘kimchi premium’ on domestic cryptocurrency exchanges had jumped over 18%, but then leveled off, equalizing with global exchange rates over the last two weeks. On Monday, as bitcoin prices spiked 8% higher surpassing the $54k zone, in South Korea, the premium on bitcoin climbed 4.56% higher than […]

Go to Source

South Korea’s Kimchi Premium Returns: BTC and ETH Prices Jump 18% Higher Than the Global Average

DIGIT — Tue, 06 Apr 2021 13:30:56 +0000

While a great number of spot exchanges have seen consistent prices in a few select areas in the world, bitcoin is selling for a premium. That’s the case in South Korea right now as there’s a price gap, otherwise known as the ‘kimchi premium’ on domestic South Korean exchanges in comparison to foreign exchanges. Bitcoin, […]

Go to Source