Why crypto attracts South Korea like iron to magnets

South Korea was the third largest cryptocurrency market in the world at press time. In contrast to the 'Digital Gold' narratives in the west, the growth is largely based on the trading of cryptThe post Why crypto attracts South Korea like iron to magnets appeared first on AMBCrypto.

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Legal proceedings start for Terraform Labs co-founder in South Korea: Report

Terra co-founder Do Kwon is currently in custody in Montenegro, while Daniel Shin's trial preparations in South Korea are reportedly underway.

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Do Kwon's Millions Are Not in South Korea, Prosecutors Say: Report

South Korea requested the extradition of the Terraform Labs CEO after his recent arrest in Montenegro.

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Assessing the impact of the FTX debacle on South Korea and more

South Korea has begun a probe into cryptocurrency exchanges in the country in relation to offering native tokens, as per a local news report. The Korea Financial Intelligence Unit (KoFIU) is the finanThe post Assessing the impact of the FTX debacle on South Korea and more appeared first on AMBCrypto.

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Breaking: Interpol ‘Red Notice’ issued for Do Kwon — South Korea prosecutors

The Terraform Labs co-founder faces charges in South Korea relating to the crash of the Terra ecosystems’ cryptocurrencies.

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South Korean regulators to prepare guidelines for security tokens in 2022

South Korea will get a separate security tokens market operated by Korea Exchange.

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16 Crypto Platforms Face Suspension in South Korea Amid Crackdown

The Korea Financial Intelligence Unit (KoFIU) said that it has alerted the investigating authority about the illegal business activities of 16 unregistered Virtual Asset Service Providers (VASPs) operating in South Korea.

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South Korea: The LUNA investigation is leading the FSC to check...

Financial watchdogs in South Korea are checking commercial banks' foreign exchange transactions for the illegitimate use of cryptocurrencies. An unnamed Financial Supervisory Service official said The post South Korea: The LUNA investigation is leading the FSC to check... appeared first on AMBCrypto.

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CBDC a 'high possibility' in South Korea, first test could take place before December

In the crypto sector, South Korea enjoys quite a bit of fame thanks to its "Kimchi Premium" and large alt coin market. However, the country's central bank authorities aren't far behind in crypto innovThe post CBDC a 'high possibility' in South Korea, first test could take place before December appeared first on AMBCrypto.

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South Korea: Foreign Exchanges Limit Transactions Following Strict Crypto Regulations

Regulators around the world are cautious about the rise of cryptocurrencies. South Korean authorities are not an exception. The Governor of Bank of Korea, Lee Ju-Yeol, stated that Bitcoin “has no intrinsic value.

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Why South Korea's 'Kimchi coins' are in trouble

With changing regulatory landscape in South Korea, it has been getting tough for the cryptocurrency exchanges to comply. The result of this confusion has led many exchanges to limit the number of crypThe post Why South Korea's 'Kimchi coins' are in trouble appeared first on AMBCrypto.

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Crypto exchanges in South Korea brace up as officials ban cross-trading

South Korea’s Financial Services Commission (FSC) has announced that it is banning exchange operators and executive employees from trading on their platforms. This has led to series of complaints from exchanges that are affected.

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South Korea aims to “pay special attention” to Bitcoin and crypto transactions

South Korea’s regulators have announced a new crackdown on crypto-related illegal activity amidst the ongoing digital assets trading boom, local news outlet Yonhap News Agency reported today. The post South Korea aims to “pay special attention” to Bitcoin and crypto transactions appeared first on CryptoSlate.

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Exchanges in South Korea face huge fines for AML non-compliance

South Korea’s Financial Services Commission (FSC) announced yesterday it would be imposing penalties for… The post Exchanges in South Korea face huge fines for AML non-compliance appeared first on Coin Journal.

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Blockchain Adoption in South Korea’s Health Sector on the Rise Amid COVID-19

South Korea’s healthcare sector is seeing an increase in blockchain adoption as practitioners pivot towards virtual contact with patients amid the ongoing coronavirus pandemic. From the handling of clinical research data to patient information, the novel tech is experiencing utilization in South Korea as stakeholders prioritize privacy and efficiency within the industry.

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Bitcoin Futures Open Interest Collapses as BTC Crashes 6 Percent

The market was shaken by news of South Korea's largest crypto exchange being investigated by police

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South Korea Plotting $400 Million Blockchain War Chest to Challenge China

South Korea’s government is reportedly exploring a $400 million blockchain R&D fund to boost its emerging digital economy and stay apace with China’s growing dominance in the sector. According to ZDNet Korea, the country’s Ministry of Science and Technology will at the end of the month decide on whether to move forward with a planned […] The post South Korea Plotting $400 Million Blockchain War Chest to Challenge China appeared first on BeInCrypto.

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South Korea considering the imposition of 20% tax on crypto-profits

South Korea's finance ministry might be planning to impose a 20 percent tax on income gained from cryptocurrency transactions, according to a recent Korea Herald report. The report quoted a governmentThe post South Korea considering the imposition of 20% tax on crypto-profits appeared first on AMBCrypto.

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South Korea's Presidential Commission recommends government join the crypto-space

China will soon be unveiling its state-backed cryptocurrency and it has left no stones unturned in publicizing it. However, looking at the few nations embracing blockchain and cryptocurrencies, the SoThe post South Korea's Presidential Commission recommends government join the crypto-space appeared first on AMBCrypto.

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South Korea Seeks to Tax Transactions Involving CryptoCurrencies In 2020

Capital gains from transactions involving virtual currencies such as bitcoin may soon be taxed in South Korea, according to a report by the Korea Times. The publication refers to government sources, and confirmation received from the Ministry of Economy and Finance.

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South Korea Ministry Makes $382 Million Investment into Research and Development of Blockchain

The Ministry of Science and Technology in South Korea is planning to put 450 billion Won, which is about $382 million, in blockchain development and research. The investment would take place over a 6 years period of time, starting in 2021 and ending in 2026, the ZDNet Korea has reported on Thursday. As some government […]

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South Korea takes the brunt of North Korea’s cryptocurrency cyberattacks

A United Nations (UN) report has disclosed how the intergovernmental organization is investigating at least 35 cyberattacks led by North Korea, South China Morning Post reports. The attacks include cryptocurrency exchange hacks and crypto-jacking campaigns.

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Head of South Korea’s FSC Resigns Abruptly to “Widen the Scope” for New Cabinet Members

Chairman Choi Jong-ku left the Financial Services Commission in South Korea last week. There are already multiple candidates that may fill his position. South Korea has been rather strict in the way that they’ve navigated the cryptocurrency industry, but could that change soon? A new report from The Korea Times indicates that the chairman of […]

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Trillions: Crypto Scams Have Cost South Korea $2.7T Won

Scams Hit South Korea Hard Crypto scams haven’t been kind to South Korea. As reported by The Korea Herald, an English newspaper covering events in South Korea, the local Justice Ministry estimates that crypto-related crimes.

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The richest in South Korea are actively investing in crypto, showing big interest

A subsidiary of SK Group, one of the largest conglomerates in South Korea that operates the nation’s biggest telecommunications company SK Telecom, is set to invest in a crypto fund created by ConsenSys.

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First Successful Blockchain-tracked Shipment from South Korea to the Netherlands

As a proof-of-concept, a shipping container has completed its transcontinental, blockchain-automated shipment from South Korea to the Netherlands

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South Korea’s Biggest Bank U-Turns on Crypto With Custody Service

South Korea’s largest bank by assets, KB Kookmin, has partnered with a cryptocurrency startup to develop custody solutions. South Korea’s Kookmin U-Turns on Crypto Reported by local media outlet Business Korea June 11, Kookmin will now work with local company Atomrigs Lab, which is active in digital asset protection.

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Disney is Reportedly Set to Put Out $13,2B for South Korea’s Largest Game Developer Nexon

Coinspeaker Disney is Reportedly Set to Put Out $13,2B for South Korea’s Largest Game Developer NexonGlobal entertainment leader Disney is apparently in talks with NXC, which owns the largest video game publisher in South Korea, as well as two major cryptocurrency exchanges: Bitstamp and Korbit.

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South Korea’s Biggest Exchange Bithumb Will Slash Half of Its Staff as Bear Market Blues Strike Again

The crypto winter continues to make victims. Unfortunately, the next victims are the employees of Bithumb, the largest cryptocurrency exchange in South Korea. Coindesk Korea has recently reported that the affirmed that it would cut the number of employees from the current 310 to around 150 soon. If this is confirmed, half of the team […]

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Millennials In South Korea Look To Cryptocurrencies As Viable Outlet To A Better, Brighter Future

Sampo Generation In South Korea Turn To Crypto To Bypass Country’s Societal Demands Cryptocurrency, for many millennials in South Korea, could not have come at a better time. cryptocurrencies have provided them with an avenue to escape the various rigid demands placed on them by society.

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ICO Ban to Continue in South Korea, FSC Says

South Korea’s state financial regulator Financial Service Commission (FSC) will continue the ban on initial coin offerings (ICOs); this was confirmed in a press release published on January 30, 2019.

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Report: South Korea to Push for Major Adoption of Cryptocurrencies

South Korea will push for major cryptocurrency adoption, claims a new report, strengthening the spotlight on the tech hub which forms one of the most crypto-friendly countries in the world.  Also read: Korean Incoming Minister Confirms Crypto Taxation Plans South Korea’s Enthusiasm for Tech As one of the most innovative countries in the world, it’s no […] The post Report: South Korea to Push for Major Adoption of Cryptocurrencies appeared first on Bitcoin News.

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South Korea’s Minister Of Economy And Finance Looks At New ICO Crypto Tax Implementations

The financial authorities of South Korea, most specifically from the Ministry of Finances, have declared that they are currently considering to create a cryptocurrency tax. The idea was announced by the active minister, Hong Nam-Ki.

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Crypto Exchange in South Korea Pulls Exit Scam, Stealing $30 Million

Pure Bit, a cryptocurrency exchange in South Korea, has allegedly pulled an exit scam, disappearing with more than $30 million worth of user funds. On Nov. 9, as BlockchainROK, a trusted news source in South Korea reported, the management team of Pure Bit started to delete social media handles of the exchange and kicking users […] The post Crypto Exchange in South Korea Pulls Exit Scam, Stealing $30 Million appeared first on CryptoSlate.

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North Korea Allegedly Hacks into South Korea’s Computers for Crypto Mining

According to The Next Web (who has referenced UPI), South Korea’s intelligence team have pointed their fingers at North Korea for supposedly having hacked into the former’s computers in order mine cryptocurrencies.

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South Korea Stands Firm: Won’t Legalize ICOs For Now

South Korea stood its ground on the matter of legalizing initial coin offerings (ICOs), reaffirming the ban that the country instituted last fall. ICO Ban Stands The Financial Services Commission (FSC) – South Korea’s top financial regulator — reaffirmed October 11 that the country will maintain its position on initial coin offerings and keep them outlawed.

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South Korea: Ruling Party Lawmakers Urge Government to Go Ease on ICO Regulation

According to a report by Business Korea, South Korea’s ruling Democratic Party lawmakers Min Byung-doo and Roh Woong-rae are spearheading an initiative to convince the government to reverse the ban on initial coin offerings (ICOs) enacted in Sept.

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South Korean Lawmakers Propose the Legalization of ICOs

South Korea has maintained a reasonably negative stance on cryptocurrencies and initial coin offerings (ICOs) since their blanket ban in September 2017. According to Business Korea’s article released on October 4, 2018, however, the National Assembly is looking to convince the government to remove the ICO ban as it may undermine South Korea’s future competitiveness.

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World Credit Diamond Coin: Facilitating China and South Korea partnership using Blockchain

Think of living a completely cashless life

The post World Credit Diamond Coin: Facilitating China and South Korea partnership using Blockchain appeared first on CoinSpeaker.

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Binance’s South Korea Expansion Plan: Exchange Doesn’t Deny but Plays Down Hype

Crypto traders in South Korea could soon have direct access to Binance’s trading platform. According to a speculative report circulating in the Korean media, the largest cryptocurrency exchange in the world (by trading volume) is preparing to tap in on South Korea’s booming digital asset market by setting up a regional office in the country.

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Cryptocurrency division has been created by South Korea’s financial service commission

South Korea’s Financial Services Commission recently announced a “major organizational reshuffle” to help protect consumers and adapt to changing financial innovations. Part of the reorganization includes a new division to oversee the cryptocurrency sector.

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This startup is the perfect example of Korea’s vibrant crypto market

Though cryptocurrencies and blockchain applications seem to have taken the entire world by storm, there are few places where this new technology has been embraced like South Korea. In part, thanks to changing regulations within the country, the overwhelming sentiment seems to indicate that crypto will soon become fully integrated into everyday life in South Korea.

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Digital currencies don’t perform as money – Bank of Korea

On Monday, the Bank of Korea [BOK] said that it has no plans of issuing Central Bank Digital Currency [CBDC] fearing ‘moral hazard to society’. The BOK is the central bank of the Republic of Korea, and is the sole authority that can issue the South Korean won.

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Korean Cryptocurrency hub hacked

Hackers have reportedly made away with cryptocurrencies worth $30 million from Bithumb, South Korea’s leading exchange, according to reports from a blog update. The exchange states that due to the hack, deposits and withdrawals will be temporarily suspended until further notice.

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Why South Korea still matters to crypto

With China to its west and Japan to its east, South Korea is surrounded by economic giants, but nonetheless remains a pivotal influence on the global cryptocurrency markets — for reasons that are not immediately apparent to most external observers

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South Korean Bithumb Exchange Loses $30M in Latest Cryptocurrency Hack

Hackers have reportedly made away with cryptocurrencies worth $30 million from Bithumb, South Korea's leading exchange, according to reports from a blog update. The exchange states that due to the hack, deposits and withdrawals will be temporarily suspended until further notice.

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Korean Ministry Initiates Investigation Into Causes Of Bithumb Crypto Exchange Hack

The South Korean Ministry of Science and Technology (MIC) has set up a probe into the theft of $30 million from the world’s sixth largest cryptocurrency exchange Bithumb, Yonhap News reports Wednesday, June 20.

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Bithumb stocks $31 Million Hack: What We Know (And Don’t Know)

On Wednesday, roughly 35 billion Korean won (around $31 million) in cryptocurrency was stolen by hackers from the South Korea-based exchange Bithumb. According to a follow-up report from CoinDesk Korea, Bithumb conducted a security enhancement checkup on June 16, just days before the confirmed hack.

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South Korea Exchange Bithumb Stops Withdrawls After Hack

$30 million worth of undisclosed cryptocurrencies has been stolen from Bithumb, one of the largest crypto exchanges in South Korea by trading volume. As it was officially announced the Seoul-based crypto exchange Bithumb had become a victim of a hack and had lost $30 million worth of undisclosed cryptocurrencies. Currently, Bithumb is considered to be

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