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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
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
Kakao wants to keep up with the enterprise blockchain competition in Asia as it eyes expansion to Singapore. Go to Source Powered by WPeMatico
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
The crypto exchange giant said the decision was part of efforts aimed at proactive compliance with regulatory demands. Go to Source Powered by WPeMatico
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
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
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
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
The South Korean government has proposed an amendment to the tax code to allow the country’s tax authority to seize and sell cryptocurrencies belonging to delinquent taxpayers. “The revision will allow direct seizing without court-approved change in ownership records. Assets held by tax dodgers in the form of digital coins will no longer evade seizure … Read more