Over two months ago, the Korea Blockchain Association (KBA) decided to initiate self-inspections into cryptocurrency industry striving to insure the digital exchanges operating in South Korea had safeguards to check themselves from potential issues such as cyber-attacks and malicious activities.
The FSC specifically wanted money laundering and cyber-crime prevention to be the major issues that the exchanges should be focusing on.
Hence, the forthcoming FSC regulations aimed to provide frameworks that pertains to AML and KYC requirements for the exchanges to follow.
The other day, the Korea Blockchain Association, an industry body that contains nearly two dozen cryptocurrency companies, has concluded an in-house examination of 12 domestic digital currency trades that began in May.
The 12 exchanges receiving the approval are: Dexko, Hanbitco, OKCoin Korea, Huobi Korea, Bithumb, Upbit, Neoframe, Gopax, Cpdax, Coinzest, Korbit and Coinone.
12 Korean Crypto Exchanges Pass Self Regulatory Probe The Korean Blockchain Association (KBA) just announced the results of a self-regulatory review of Korean exchanges, stating that all exchanges assessed fulfill the minimum requirements established by KBA in April 2018.
The biggest self-regulatory cryptocurrency body is under scrutiny of Korean industry for its investigation principles affirming 12 out of 12 digital trades screened in a recent self-administrative drive.
The Korean Blockchain Association (KBA) has passed a vote of confidence on 12 cryptocurrency exchange platforms in South Korea. All 12 Cryptocurrency Exchange Platforms Meet the Requirements According to the KBA, all 12 participants in the audit passed the minimum requirements set forth by the Association.
The Korean Blockchain Association (KBA) has passed a vote of confidence on 12 cryptocurrency exchange platforms in South Korea. All 12 Cryptocurrency Exchange Platforms Meet the Requirements According to the KBA, all 12 participants in the audit passed the minimum requirements set forth by the Association.
South Korea is a very important location in the world of cryptocurrency. Its exchanges generate tremendous amounts of trading volume, and it seems that situation will not change anytime soon. According to a new report, the Korean Blockchain Association has announced that all exchanges meet its regulatory requirements, which is a very positive sign. Korean Exchanges […]
The self-regulatory inspection of South Korean cryptocurrency exchanges is complete. Fourteen out of 23 exchanges agreed to be inspected. Twelve met the self-regulatory standards despite security flaws, raising questions of how effective the inspection is.
The Korea Blockchain Association (KBA) found that 12 Korean cryptocurrency exchanges passed the minimum standards required when it came to cybersecurity measures. These included large exchanges like Bithumb, Korbit, and Gopax.
South Korea’s Lotte Global Logistics, a major Seoul-headquartered logistics and shipping firm, has joined the Blockchain in Transport Alliance (BiTA), FreightWaves reported Monday, July 9. The BiTA trade association was formed in 2017 to popularize and develop blockchain applications in the transport and logistics industries, as well as to establish industry standards for adoption of
The Walton Blockchain Institute signed a partnership agreement with the Korean Standards Association (KSA) on June 11 to promote top-notch research and development in the field of blockchain technology and implementation.
South Korean cryptocurrency exchange Coinrail reported a hack on its website during the early morning hours of June 10, 2018. The thieves allegedly made off with over $40 million worth of altcoins and assorted tokens.
With Washington tightening the screws on North Korea’s crypto-funded nuclear weapons programme, South Korea says it’s open to rethinking its own sanctions playbook. During a recent interview, South Korean Vice Foreign Minister Kim Ji-na told local media that “coordination between…
Binance is facing renewed scrutiny from South Korean lawmakers after a parliamentary hearing this week reignited calls for the exchange to compensate victims of GOPAX’s failed GoFi deposit program. South Korean lawmakers are intensifying pressure on Binance to fulfill a…
Binance holds a 67% stake in Gopax, acquired in February 2023. A $4. 3 billion US settlement eased regulatory concerns in South Korea. Gopax faced a $47 million liquidity shortfall linked to Genesis Global Capital.
Binance is finally making progress with its South Korea re-entry after over two years of delay, as authorities have reopened their review of the exchange’s long-stalled takeover of local crypto exchange Gopax.
Hwang Jung-eum, a South Korean actress and K-drama star, was handed a suspended prison sentence for embezzling $3 million from her agency to invest in cryptocurrency. According to a report from local media outlet Korea JoongAng Daily, Hwang has been…
South Korean regulators have moved to quell a brewing risk in crypto exchanges. The new regime bans high-risk leveraged loans and institutes a strict 20% interest cap, citing serious concerns over investor protection and market stability. On September 5, South…
