Busan is developing an Ethereum-compatible mainnet to become a ‘Blockchain City’
The city administration behind the project aims to make Busan a blockchain city and has launched a $75 million development plan to realize the goal. Go to Source
South Korea
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Crypto makes up 70% of South Korean overseas assets: National Tax Service
1,432 individuals and corporations in South Korea have reported holding $98 million in crypto overseas, which is 70% of all reported assets. Go to Source
South Korea focuses on OTC crypto regulations as unlawful deals reach $4B
According to the Korea Customs Service report, the value of unlawful foreign exchange transactions made using virtual currency was estimated to be worth $4 billion last year. Go to Source
South Korean Bitcoin lender Delio plans to sue regulators: Report
South Korean financial regulators accused Delio of fraud and embezzlement and seized its assets in July earlier this year. Go to Source
Crypto Biz: Coinbase’s lending bet, a new ads policy at Google and Marathon’s mining performance
This week’s Crypto Biz explores Coinbase’s lending platform, Marathon Digital’s latest Bitcoin mining report, Hana Bank’s move to offer crypto custody and Google’s new crypto ads policy. Go to Source
South Korean Hana Bank enters crypto custody business with BitGo
KEB Hana Bank and BitGo plan to launch a joint cryptocurrency custody venture in the second half of 2024. Go to Source
South Korean parliament rejects motion to expel lawmaker over crypto scandal
South Korean lawmaker and Wemix investor Kim Nam-kuk will stay in the parliament after a 3:3 vote in the expulsion motion. Go to Source
Naver Corp unveils South Korea’s answer to ChatGPT and generative AI
South Korean internet giant Naver Corp. has released CLOVA X, a Korean language chatbot similar to ChatGPT that can have conversations and summarize text. Go to Source
South Korean city to seize crypto from thousands of tax evaders: Report
City authorities of Cheongju are looking to seize cryptocurrency from anyone who owes at least $750 in crypto taxes to the government. Go to Source
SEC seeks to question Terraform Labs co-founder Daniel Shin in Korea
The Securities and Exchange Commission wants to question Daniel Shin on Do Kwon and Chai Corporation’s relationship with Terraform Labs. Go to Source
