2023-1-29 17:12 |
The Ministry of Justice in South Korea has announced the primer of a 'virtual currency tracking system' to curb money laundering and recovery of proceeds of crime. origin »
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The South Korean Ministry of Justice disclosed intentions to create a crypto tracking system to combat the flow of dirty money and other related financial transactions and to reclaim cash associated with criminal conduct.
2023-1-30 11:53 | |
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South Korean officials are considering using a blockchain-based digital identity system for use in governmental and financial processes. The post Could a Blockchain Digital Identity System in South Korea Soon Replace ID Cards? appeared first on BeInCrypto.
2022-10-17 09:34 | |
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A South Korean technology company, LG Electronics, has applied for a patent registration for its newly invented digital asset wallet code-named Wallypto which is currently being beta tested to limit system errors and crashes.
2022-9-3 23:30 | |
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The South Korean authorities have further postponed the implementation of its cryptocurrency taxation system for another two years. The government cited the devastating conditions that have plagued the markets of late as one reason, further highlighting the preparatory period required to fully enact suitable investor protection measures in the crypto space as a second reason. […]
2022-7-22 17:32 | |
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The South African Reserve Bank stated further work would be undertaken to study the findings from the project and used to inform policy and regulatory responses to DLT and CBDCs.
2022-4-9 10:18 | |
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The FSC wishes to establish a system that would recover illegally gained funds, dole out criminal punishments, and protect investors from future malfeasance.
2021-11-27 08:21 | |
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Since the implementation of globalization, AOFEX has established branches in Canada and Japan and received excellent outstanding results in local and surrounding regions, thus building a multi-region crypto market system including West Europe, North America, East Asia along with the Headquarter in the United Kingdom.
2021-10-15 16:21 | |
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Reports from South Africa suggest that tax authorities have plugged a loophole on the online tax filing system that enabled crypto arbitrage traders to make several purchases on overseas cryptocurrency platforms using just one approval.
2021-7-17 09:00 | |
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Fifty crypto businesses based in South Korea have applied for a license under the new Information Security Management System (ISMS), a government-backed certification that certifies companies that meet stringent standards of data protection and privacy.
2021-6-17 19:00 | |
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South Africa’s Intergovernmental Fintech Working Group released a new position paper on crypto-assets. In it, they call for the regulation of the country’s current cryptocurrency system.
2021-6-13 18:29 | |
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Regional reports disclose South Korea’s Financial Services Commission (FSC) had a closed-door meeting with roughly 20 different cryptocurrency exchanges on June 3. The report highlights that virtual asset business operators (VASPs) that attended the meeting all had ISMS (Information Security Management System) certification.
2021-6-5 02:00 | |
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Earlier this week, head of South Korea’s central bank Lee Ju-yeol warned that leveraged crypto trading was a threat to the country’s financial system. “An excessive level of leveraged cryptocurrency trading puts households at risk of financial damages considering the instability of [crypto],” he said.
2021-5-28 11:41 | |
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The Bank of Korea (BoK) has come out to warn that the increasing cases of leveraged crypto trading by South Korean citizens pose a significant threat to the country’s financial system. A report unveiled this news on May 27, citing remarks from BoK’s governor, Lee Ju-yeol, who spoke after a monetary policy committee meeting yesterday.
2021-5-28 18:31 | |
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South Korea’s monetary policy regulator, Bank of Korea, plans to obtain documents from financial institutions to track crypto transactions involving bank accounts. Cryptocurrency prices fluctuate independently from the real economy, the bank says, adding that market growth could pose a risk to the country’s financial system.
2021-5-15 05:00 | |
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South Korea's Ministry of Science and ICT is working with the Korean National Police Agency to bust the growing crypto phishing websites through a new system, Yonhap reports. This follows a rise in phishing attempts targeting crypto users.
2021-5-11 20:05 | |
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The South Korean Government has announced plans to launch a distributed ledger technology (DLT) powered COVID-19 certification system. The system will make the verification of the vaccination status of residents possible via a smartphone app, according to a report by The Korea Herald on April 1, 2021.
2021-4-1 17:00 | |
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The National Health Services (NHS) facilities in England use blockchain technology to keep tabs on the supply and storage of temperature-sensitive COVID-19 vaccines. The system will “allow us to demonstrate our commitment to providing safe patient care,” said Steve Clarke, electro-biomedical engineering manager at South Warwickshire NHS, in a statement.
2021-1-21 16:59 | |
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South Korea has been working towards a suitable tax system for crypto trades and profits for a while now, with different proposals and deadlines. However, after much deliberation, the government has now put forth a viable tax plan for crypto gains.
2021-1-8 22:55 | |
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South Korean blockchain firm Iconloop is set to test a blockchain-based mobile driver’s license system in the country.
2021-1-4 19:15 | |
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With phase one of its central bank digital currency (CBDC) experiment complete, the Bank of Korea (BOK) is looking forward to testing the token distribution system in 2021. Despite the ongoing CBDC trials, South Korea’s central bank says it is not looking to launch a sovereign digital currency.
2020-10-7 14:34 | |
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Samsung SDS, the IT arm of the South Korean multinational business Samsung group will begin testing a blockchain-powered distribution system that will offer better management of pharmaceutical drugs, The post Samsung’s blockchain project to manage pharmaceutical data appeared first on AMBCrypto.
2020-9-26 22:00 | |
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This region in South Korea may adopt a blockchain voting system.
2020-9-12 02:00 | |
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South Korean public entities are becoming blockchain-friendly.
2020-9-7 17:00 | |
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A blockchain-powered contact tracing system will be launched in an effort to combat COVID-19... The post South Korea will use a blockchain for track and trace to aid tourism appeared first on Coin Journal.
2020-8-21 12:02 | |
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An academic team from the Department of Computer Engineering, Kyung Hee University, Yongin, is developing an IOTA-based system to improve the supply chain of medical equipment with support from the Institute of Information & Communications Technology Planning & Evaluation (IITP) grant which is directly funded by the South Korean government.
2020-8-17 21:00 | |
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One of the biggest commercial banks in South Korea has partnered with the Korea Expressway Corporation for a blockchain-based toll system.
2020-8-9 17:00 | |
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The Haeundae Beach System in Busan is part of a pilot project that aims to offer crypto payment solutions to beachgoers in the summertime.
2020-8-9 04:00 | |
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South Korea’s central bank has signed a memorandum of understanding (MoU) with the country’s Financial Settlement Service to take over the management of BankSign; a blockchain authentication certificate service.
2020-7-14 01:07 | |
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During the 16th, 4th Industrial Revolution Committee meeting on June 24, 2020, South Korea’s Ministry of Science and Technology announced plans of developing seven distributed ledger technology-based systems including the launch of a voting and election system by 2022 under the “Blockchain Technology Diffusion Strategy.
2020-6-25 14:35 | |
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According to an article published by Yonhap News Agency on May 26, 2020, South Korea’s LG Group’s IT service unit – LG CNS Co. – has entered into a partnership with Canada-based Evernym Inc. to develop blockchain-enabled ID system.
2020-5-27 13:00 | |
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South Korea’s National Assembly finally passed a bill that provides a framework for the regulation of cryptocurrencies and exchanges. Crypto service providers will be required to use the real-name verification system and comply with reporting requirements in line with the global cryptocurrency standards set by the Financial Action Task Force (FATF).
2020-3-8 20:38 | |
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The National Assembly of South Korea unanimously approved what could be the official entry of cryptocurrency trading and holding into the nation’s legal system. Cryptocurrency Trading Is Now Legal in...The post South Korean Parliament Legalizes Bitcoin Trading appeared first on Crypto Briefing.
2020-3-6 16:35 | |
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South Korea’s NongHyup Bank rolls out first commercial use of blockchain ID technology backed by tech giant Samsung
2020-2-28 19:35 | |
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The Bank of Korea (BOK), the central bank of South Korea, is working on a proof-of-concept (POC) for a blockchain-based bonds issuance system for the region’s bond market, according to a report by Yonhap Infomax on February 18, 2020.
2020-2-20 12:00 | |
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The Bank of Korea is reportedly looking to build a blockchain system for the Korean bond market.
2020-2-20 07:00 | |
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South Korean technology behemoth, Samsung, recently unveiled the new Galaxy S20 range of phones, which among other features, includes an improved security system that protects the user’s blockchain private key.
2020-2-20 22:00 | |
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Government officials often rely on Microsoft Windows as their computer operating system. That situation will change significantly in South Korea. It is interesting to see different governments handle their computer-based needs.
2020-2-18 06:00 | |
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It will be the only cryptocurrency exchange available in South Korea that adopts an international joint order book system. APRObit will be the first exchange in South Korea to adopt Bitfinex’s joint order book system, which shares the market depth of Bitfinex’s BTC, ETH, and USDT trading pairs APRObit will be the only exchange inRead MoreRead More.
2020-2-13 16:00 | |
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Samsung SDS, the ICT arm of South Korean electronics company Samsung Group, and Syniverse, a telecommunication services company, have collaborated to develop a blockchain-based platform to enable seamless mobile payments between mobile carriers and enterprises, according to a Ledger Insights report on January 10, 2020.
2020-1-11 10:00 | |
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A South Korean committee directly under the president has recommended several measures to the government that will make cryptocurrency mainstream. Emphasizing that “it is no longer possible to stop crypto asset trade,” the committee recommends integrating crypto into the country’s financial system, allowing financial institutions to directly offer a range of crypto products, including derivatives, […] The post Korean Presidential Committee Pushes to Make Cryptocurrency Mainstream appeared first on Bitcoin News.
2020-1-8 10:30 | |
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The crypto space in South Korea is among the most vibrant amongst today’s FinTech aggressive nations. This market accounts for nearly a fifth of the total crypto transactions globally despite the tough stance by authorities on cryptocurrency activities.
2019-12-4 18:17 | |
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The cryptocurrency space in South Korea accounts for nearly 20% of the world’s crypto-transactions. However, the country's crypto-industry has consistently been on the defensive against stifling resThe post Bithumb releases identity authentication system to comply with global requirements appeared first on AMBCrypto.
2019-12-4 07:23 | |
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Ubitquity, an enterprise-ready blockchain-secured platform for real estate and title recordkeeping, today announced a new use-case for bringing blockchain-powered title and record management to South East Asia via the company E-Title Cambodia.
2019-11-13 19:29 | |
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Good morning forkers, it’s that time of the week again. It’s Hard Fork’s wrap-up of the weekend’s cryptocurrency and blockchain headlines you shouldn’t miss. Let’s get to it. 1. Facebook‘s “cryptocurrency” Libra is facing yet more challenges as Mastercard, Visa, eBay, payment system provider Stripe, and South American partner Mercado Pago have pulled out of the troubled project, The Financial Times reports.
2019-10-14 11:40 | |
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Facial recognition technology is used across China for everything from identifying criminals to measuring students’ attention in class. Now, it has debuted a system in its subway that lets you use your face as a ticket.
2019-9-23 09:14 | |
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CJ, one of South Korea's largest conglomerates, is developing a blockchain-based music copyright management system.
2019-9-20 11:00 | |
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South Korean consumer electronics giant Samsung wants to patent a blockchain-enabled SSD system
2019-9-4 14:03 | |
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Authorities in France say they have shut down a cryptocurrency mining botnet that had infected more than 850,000 computers across 100 countries. France‘s “cybergendarmes” or more formally, the C3N digital crime-fighting center was alerted to the potential fact that a server based in Paris had been distributing a virus called Retadup, BBC reports.
2019-8-29 10:32 | |
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The chairperson of the South Korean Financial Services Commission (FSC) has stated that he is in favour of a proposed reporting system for crypto exchanges operating in the nation. The regulations may serve to make digital currency trading platforms more transparent, as well as helping to protect against money laundering and other financial crimes.
2019-8-28 23:00 | |
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South Korea’s third-largest crypto exchange, Coinone, is reportedly looking to sell part of its chairman’s stake, with Coinbase named as a potential participant in the early talks. According to a Seoul Economic Daily report citing a company representative, Coinone plans…
The one-exchange-one-bank model is not a legal requirement but is widely followed. A government study found the setup limits access for small crypto exchanges. Large platforms dominate Korean won-based trading due to better liquidity.
Only VASP-registered platforms will stay available on the Play Store. Local exchanges like Upbit and Bithumb could gain more market share. Some traders may shift towards DeFi and non-custodial wallets.
South Korean regulators plan to lift a nine-year ban on corporate crypto investments as the country continues to warm up to the digital asset space. South Korea’s Financial Services Commission has reportedly crafted new guidelines for listed corporations and professional…
Most breaches involved failures in customer due diligence and identity verification processes. The action coincides with reports of a potential majority acquisition by Mirae Asset. The case reinforces stricter regulatory expectations across South Korea’s crypto sector.
South Korea's ruling Democratic Party is working to consolidate several lawmaker proposals into a revised digital asset bill.
According to reports, Mirae Asset Group is in advanced talks to buy Korbit, South Korea’s long-running crypto exchange, in a deal valued at about 100 billion to 140 billion won — roughly $70 million to $100 million.