While a new crypto classification system has been created, another government agency is conducting an on-site inspection of crypto exchanges following multiple hacks.
In addition, the Bank of Korea has released a report with its view on using crypto as a means of payment.
Japan Confirms Entrance Into the Crypto Space
Policy Easing
South Korea has been actively revising and updating its regulations for cryptocurrencies.
New Crypto Classification System
The South Korean Ministry of Strategy and Finance’s Statistics Korea, responsible for statistics in the country, has created a classification system for cryptocurrency operators and other blockchain-related entities.
Bank of Korea’s Crypto Report
The Bank of Korea (BOK) released its big report on “crypto assets and central banks” on Friday, July 6, according to local media.
Japan, South Korea, and the US warned the global crypto industry about threats posed by hacks attributed to North Korean actors in a joint statement published on Jan. 14. According to the statement, groups allegedly tied to the Democratic People’s Republic of Korea (DPRK) are targeting exchanges, crypto custodians, and individual users.
A new report shows that more than 30% of the South Korean population holds crypto, with investors now holding over 100 trillion won in assets. South Korea‘s crypto market is rapidly booming as the number of investors reached 15.59 million…
More than 33,000 crypto investors in South Korea are currently unable to access their assets, which amount to around $13 million, due to the closure of several crypto exchanges in the country, local media outlet The Korea Times reported on Oct.
Last week, CoinDesk's Sam Kessler reported that developers and IT workers employed by the Democratic People's Republic of Korea – i.e. North Korea – had managed to get themselves hired by a number of crypto projects, giving them two different ways of raising funds for the national regime.
Crypto. com has announced expansion into South Korea via the acquisition of two locally registered firms – the payments provider PnLink Co. and virtual asset platform OK-BIT Co. With the deals, Crypto.
Crypto crime in North Korea hits the top of the charts. Finally, they win at something. Yay!
The post Crypto Crime: North Korea is the Country Most Infested With Scammers appeared first on BeInCrypto.
After the U.S. Fed's announcement of tapering took crypto for a spin, a similar situation is arising in South Korea's domestic market, as per local reports. After raising the base rate twice to the 1%The post Report: Investors in South Korea turn to crypto as gold prices struggle appeared first on AMBCrypto.
Introduction South Koreans have been a major player in the crypto space for a long time. According to surveys at the time when crypto was booming in 2017, more than a third of the country’s salaried workers were invested in cryptocurrencies.
According to a press statement released by South Korea’s Financial Services Commission (FSC), over 20 crypto exchanges operating within the Asian country could cease operation as the September 24 deadline for crypto regulation draws near.
Every country has got some dirty laundry, and North Korea exceedingly so. The country’s security services have engineered several crypto hacks over the last few years. But how does the autocratic state with few allies turn digital assets into fungible cash? Hacking is the Easy Part In recent years, North Korea has intensified its crypto […]
The post How Does North Korea Launder Stolen Crypto? appeared first on BeInCrypto.
The South Korea?s Ministry of Finance has decided to postpone its plan on taxing revenues from crypto trading for lack of an exact definition of what ?virtual assets? are
The shut down of a major crypto exchange in South Korea in April showed the impact a prolonged bear market could have on crypto businesses. 4 of South Korea’s top 5 exchanges recorded big net losses
Following the release of a new regulatory framework for crypto businesses and blockchain projects, major cities in South Korea have started to build regional policies to fuel the growth of cryptocurrency-related companies.
South Korea has always played a crucial role in crypto development and proliferation.
The post Korea Blockchain Weeks Seek to Solve Some of Crypto’s Most Pressing Problems appeared first on CryptoSlate.
South Korea has been busy revising its cryptocurrency regulations. The regulators plan to ease the rules on crypto assets in line with G20 policies. While a new crypto classification system has been created, another government agency is conducting an on-site inspection of crypto exchanges following multiple hacks.
The South Korean government is reportedly seeking to bring cryptocurrency exchanges under the direct supervision of the country’s Financial Intelligence Unit. This is the first time a government agency has said it will oversee crypto exchanges.
South Korea has revealed plans to launch a blockchain center in Busan city modeled on the Swiss Crypto Valley, local news outlet Edaily reported June 14. “We need a place to concentrate on the cryptographic industry in Korea like the Crypto Valley in Switzerland,” Oh said at the event. Located in eastern Busan, South Korea,
In the name of “industry-academia” cooperation in the field of blockchain development, Korea University is reportedly teaming up with the South Korean subsidiary of crypto exchange Huobi. Huobi was originally founded in Beijing in 2013, though it is now headquartered in Singapore, with branches in the US, Japan, Hong Kong, and China. The new South […]
The Republic of Malta is an island located just off the Southern Italian coast. It has an estimated population of just 460,000 people and a total area, estimated at 316km2, with this in mind you can argue that all in all, Malta is quite a small place.
As China cracked down on crypto exchanges and South Korea threatened to do the same, Japan stood out as a crypto-friendly nation. In 2017, Japan declared Bitcoin to be a legal form of payment and now has 16 licensed cryptocurrency exchanges.
Korean bitcoin and cryptocurrency exchange Bithumb announced they will be adding support for Cardano blockchain native asset ADA. The company also said they are listing Status Network Token (SNT).
In the latest update to the largest South Korean crypto stealing scandal valued at $37.28 million, media has unearthed evidence that banks had detected suspicious behavior at local exchanges. South Korea major trading center In terms of volume and number of exchanges, South Korean, is by far one of the largest trading centers of cryptocurrency […]
The post South Korean banks suspected Coinrail transactions months before in Feb appeared first on ZyCrypto.
Following the announcement by South Korean crypto exchange Coinrail that it has been hacked, a local publication reported that some banks had identified suspicious transactions at the exchange and stopped providing services to company months before the incident.
If you’ve never, never done acid and wondered what it’s like, this week’s news is pretty spot-on. Markets are panicking as the bitcoin price plummets to “only” seven thousand dollars. The host of The Apprentice, President Donald Trump, opened face-to-face negotiations with the DPRK which may finally end the 68-year Korean War.
With the Donald Trump and Kim Jong Un meeting now in full effect, in an event known as the Singapore Summit, the world’s media are going a bit crazy, for obvious reasons.
This has marked a momentous and historic occasion, so naturally, we did expect to see some sort of cryptocurrency-based publicity stunt.
A major South Korean exchange, Upbit, has paid six people for reporting fraudulent crypto-related schemes. Japan Confirms Entrance Into the Crypto Space Upbit Paid Users for Reporting Fraud One of South Korea’s largest cryptocurrency exchanges, the Kakao Corp-backed Upbit, has paid six individuals for reporting fraudulent crypto-related schemes. The exchange implemented a bounty system in
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.
The markets are down this morning in the wake of an alleged $40 Million hack of South Korean cryptocurrency exchange, Coinrail. Given current political activities within Singapore (the summit involving both the US President and the Leader of North Korea) we did expect the markets to be a little shaky this morning, the current view however is far worse than we expected.
Canada’s Quebec province has announced that it will be suspending all approvals for new digital currency-mining projects so officials can consider deeper restrictions and potential energy price hikes.
