Korean FSC chair nominee doesn’t think crypto is a financial asset
Seung-beom Koh said that fintech experts across the globe “find it difficult to see virtual currencies as a financial asset.” Go to Source Powered by WPeMatico
South Korea
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Upbit reportedly first crypto exchange to file with Korean regulators
Upbit is one of South Korea’s largest cryptocurrency exchanges alongside Bithumb, Coinone and Korbit — who are collectively referred to as “The Big Four.” Go to Source Powered by WPeMatico
Crypto Exchange Bitfront Said to End Korean Services Ahead of Tough New Regulations
U.S.-based crypto trading platform Bitfront is going to discontinue services in South Korea before stricter rules for the industry are enforced in September, Korean media reported. The exchange, a subsidiary of Japanese tech giant Line, is currently available to Korean traders. Line’s Bitfront Exchange to Discontinue Services for Korean Cryptocurrency Traders With tighter regulations on … Read more
Korean internet giant Kakao expands blockchain presence to Singapore
Kakao wants to keep up with the enterprise blockchain competition in Asia as it eyes expansion to Singapore. Go to Source Powered by WPeMatico
Finder’s Poll Shows Vietnam Holds the Highest Percentage of Crypto Ownership Worldwide
On Friday, the product comparison website Finder published the company’s August Cryptocurrency Ownership Report, which surveyed 42,040 citizens across 27 countries. The report ranks countries by digital currency adoption and it shows regions like Vietnam, Indonesia and India have the highest number of people who reported owning cryptocurrency. In Terms of Crypto Ownership Vietnam, Indonesia, … Read more
Binance halts KRW pairs amid tightening crypto exchange regulations in Korea
The crypto exchange giant said the decision was part of efforts aimed at proactive compliance with regulatory demands. Go to Source Powered by WPeMatico
Binance Discontinues Crypto Products and Services in South Korea
On August 13, the cryptocurrency exchange Binance revealed it is ending a great number of services in South Korea. The company noted in the announcement that it evaluated local regulations and “will discontinue the following offerings in Korea, effective immediately.” Binance Ends Korean Crypto Services Last week, former CEO of Binance US and former acting … Read more
South Korean banks doubled crypto transaction fee revenue in Q2
Shinban Bank, K bank and NH Nonghyup Bank reported a total revenue of 16.9 billion won coming out of partnerships with four crypto exchanges. Go to Source Powered by WPeMatico
Korean Regulator to Shut Down 11 Cryptocurrency Exchanges Ahead of Regulatory Deadline
South Korea’s top financial regulator will shut down 11 cryptocurrency exchanges allegedly engaged in fraudulent bank account schemes, local media reported. Meanwhile, the deadline for all crypto exchanges to comply with the country’s regulation is drawing near and most of them have not been able to meet the requirements. 11 Crypto Exchanges Could Be Shut … Read more
South Korean regulator to reportedly shut down 11 crypto exchanges
Sources claim that several mid-sized crypto exchanges in South Korea would not be able to get approval from the FSC. Go to Source Powered by WPeMatico
