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South Korean Regulator Analyzing 578 Cryptocurrencies

14.7.2021
South Korea is deliberating on four crypto-related bills for the regulation of cryptocurrencies. “We are currently doing groundwork by searching for and analyzing data on 578 coins that have various forms,” the chairman of the country’s top financial regulator reportedly said....

Smuggler Arrested With CPUs Strapped To His Body

14.7.2021
Last week customs officials working at the Hong Kong–Zhuhai–Macau Bridge stopped a truck driver who they thought was looking “nervous”. With good reason; after searching him they found the dude was literally strapped with concealed...CPUs.Read more

South Korean Bank Woori Financial to Offer Crypto Custody Services

13.7.2021
Woori Financial Group, one of the biggest financial conglomerates in South Korea, will offer crypto custody services. The bank will develop a joint venture effort with Coinplug, a blockchain-based developing company. This conglomerate signals the third bank entering the market in the country, after...

Payments Provider Clear Junction Stops Processing Payments for Binance

12.7.2021
On Monday, the global payments solutions provider Clear Junction announced it ceased processing transactions for Binance. The move by Clear Junction was brought on by the Financial Conduct Authority’s (FCA) recent warning, according to a blog post written about the decision. Clear Junction...

Tech Titans Kakao, Naver and SK in Battle to Test South Korean CBDC

12.7.2021
Some of South Korea’s biggest tech and telecommunications giants will duke it out for the right to pilot the central Bank of Korea (BOK)’s forthcoming digital won. Per KBS and Chosun, the bidding process has become a “three-way battle” between the search engine and chat app operator Naver, the chat...

Paraguayan lawmakers to present Bitcoin bill on July 14

10.7.2021
El Salvador’s decision to accept Bitcoin as legal tender in June appears to be influencing lawmakers across the region to begin exploring their own cryptocurrency strategy. Paraguay is next in line to introduce new crypto-focused legislation

South Korean Customs Officers Close Net on ‘Kimchi Premium’ Offenders

9.7.2021
South Korean customs officials say they have intercepted and tracked down scores of illegal, undeclared “kimchi premium” traders and transactions that reaped profits worth around USD 4.38m. Back in April, customs officials vowed to carry out a “crackdown” on kimchi premium traders – and now appear...

Korean Banks Elevate Cybersecurity to Deal With Crypto-Related Risks

7.7.2021
South Korean banks are taking steps to bring cybersecurity to a new level as they try to keep up with fintechs and address new threats arising from their interaction with the crypto space. A number of institutions are adopting unprecedented measures including the integration of blockchain...

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