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South Korea’s strict crypto regulatory oversight is now extending to overseas exchanges that offer cryptocurrency trading services denominated in the country’s currency. Go to Source Powered by WPeMatico
Woori Financial Group, one of the biggest financial conglomerates in South Korea, will offer crypto custody services. The bank will develop a joint venture effort with Coinplug, a blockchain-based developing company. This conglomerate signals the third bank entering the market in the country, after KB Kookmin Bank and Shinhan Bank. Woori Financial to Develop Joint … Read more
The Bank of Korea plans to select an operator to run a blockchain-based CBDC pilot next month that will test a digital won in various use cases. Go to Source Powered by WPeMatico
An increasing number of leading South Korean banks are establishing joint ventures with minor ownership to enter the crypto custody market while complying with local regulations. Go to Source Powered by WPeMatico
An eco-friendly toilet that pays people in digital currency for using it has been installed at a university in South Korea. The toilet is connected to a laboratory that uses excrement to produce biogas, which is used as a source of energy at the university. Get Paid in Digital Currency to Use a Toilet There … Read more
Students in a South Korean college are earning crypto mined from the energy generated from their excrement. Go to Source Powered by WPeMatico
More than 30 people are facing fines and prosecution in South Korea for allegedly contravening the country’s ban on overseas crypto transactions. Go to Source Powered by WPeMatico
South Korean banks are taking steps to bring cybersecurity to a new level as they try to keep up with fintechs and address new threats arising from their interaction with the crypto space. A number of institutions are adopting unprecedented measures including the integration of blockchain technologies, Korean media reported. South Korean Banks Boost Cybersecurity … Read more
A Thai firm claims that Bithumb’s Hong Kong subsidiaries caused it serious damage by unilaterally halting its business in Thailand. Go to Source Powered by WPeMatico
One of the largest South Korean cryptocurrency exchanges, in terms of trade volume, Bithumb, has announced that employees are banned from trading bitcoin on the exchange platform. The company’s chief executive officer revealed the decision in a Bithumb newsletter focused on improving “transaction transparency.” Bithumb Bans Employee Bitcoin Trading – Will Monitor for Individuals Who … Read more
