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The main regulatory body of cryptocurrencies in South Korea has a new chief who has just been approved by the country’s president. He is a known “activist and reformist” and has reportedly announced that he will consider relaxing crypto regulations to help businesses grow in this sector. Also read: Yahoo! Japan Confirms Entrance Into the Crypto … Read more
A South Korean cryptocurrency exchange said it suffered an internal system error which affected withdrawals. The exchange claimed that users were able to withdraw five times the number of coins they requested. It is asking for the coins back, and will seek civil liabilities and damages from users who do not voluntarily return the coins. … Read more
One of South Korea’s largest cryptocurrency exchanges, Bithumb, has published its first audit report, detailing its financial performance as well as crypto reserves worth approximately $6 billion kept in 12 cryptocurrencies. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space $6 Billion Worth of Coins South Korea’s second largest cryptocurrency exchange Bithumb recently released its … Read more
South Korean police have arrested four high-ranking representatives of two cryptocurrency exchanges, including Coinnest’s CEO. They were detained on arrest warrants issued after a fraud investigation, prosecutors said. The executives are accused of embezzling funds belonging to customers and may face additional charges. Also read: Three South Korean Crypto Exchanges Raided for Diverting Funds Suspects … Read more
The Kakao-backed cryptocurrency exchange Upbit has launched a system to reward users for identifying fraudulent multi-level schemes related to cryptocurrencies. The exchange has already identified and reported 20 such schemes to the police. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Reporting Illegal Schemes South Korea’s largest cryptocurrency exchange Upbit has invited … Read more
The Korean central bank has released the results of its nationwide poll which includes information about cryptocurrency acceptance. Among 25,011 poll participants, 40% of young adults are eager to possess cryptocurrencies, according to local media. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Korean Central Bank’s Crypto Poll The Bank of Korea … Read more
Cryptocurrency markets are bouncing around in value over the course of the weekend as the entire crypto-market capitalization currently rests at $329 billion USD. BTC/USD markets briefly jumped above the $9K region on Sunday, March 25 but dropped an hour later to a low of $8,398. Most of the digital currencies within the crypto-economy have … Read more
According to local reports in South Korea, demand for hardware wallets is increasing exponentially. The demand has stemmed from attempted hacks last year against domestic trading platforms like Upbit and Bithumb. Also read: Lawsuit Challenges Google’s Ban on Crypto Ads in Russia Regional Reports Detail South Korean Hardware Wallet Demand is Rising South Korean cryptocurrency … Read more
Responding to media reports that South Korean internet giant Kakao plans to raise funds using an initial coin offering (ICO) abroad, the country’s financial regulator reportedly warned that the ICO could violate current cryptocurrency regulations. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies ICOs Abroad Could Still Violate Korean Laws Kakao Corp, … Read more
What a week for the peninsular nation, 대한민국 Republic of Korea. Moon Jae-in’s administration appears to have brokered a potential meeting between heads of state to avoid nuclear holocaust, and in more practical terms local media is widely reporting regional internet giant Kakao will deepen its involvement with cryptocurrency in South Korea by incorporating crypto … Read more
