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South Korean Crypto Transactions Command an Average of $7 Billion per Day on Domestic Exchanges
9.3.2021
An investigation unveiled a growing fever among crypto traders in South Korea, who actively transact cryptocurrencies every day. Local media outlets are returning to adopt the term “crypto fever” as the recent billion-dollar figures confirm such a trend. Figures Are Now Higher Than 2018...
South Korean Moms Are Taking the Lead in Buying Bitcoin Despite the Coronavirus Pandemic
5.3.2021
As bitcoin prices keep exchanging hands above the $48k handle as of press time, South Korea notices a particular growing trend in a specific profile of crypto investors. A recent study revealed that a new era of “crypto moms” is emerging across the board in the country. Millennials...
South Korean PC Gaming Rooms Rely on Crypto Mining to Profit During the Coronavirus Pandemic
25.2.2021
The coronavirus pandemic has significantly hit several entertainment routines of the people worldwide, and South Korea is not an exception. PC gaming rooms had to shut down in the country, but their owners found a way to make profits during the lockdown by participating in crypto mining. A PC Bang...
South Korean Financial Regulator Confirms Privacy Coin Delistings- Adds New Guidelines to Report Unusual Transactions
22.2.2021
South Korean financial watchdogs are about to start overseeing crypto-related activities in the nation, and additional barriers for exchanges keep appearing. Moreover, one of the South Korean regulatory bodies codified the measures announced last year on privacy coin listings. No Major Domestic...
South Korean Court Orders Bithumb to Compensate Users for an Accidental BTC Withdrawal Case in 2018
13.2.2021
A South Korean court ordered one of the biggest domestic crypto exchanges to compensate victims of an “accidental withdrawal” incident in 2018. Bithumb has been ordered to pay customers who withdrew their bitcoin funds to an unknown wallet. Funds Ended Up in a Wallet With an Unknown...
Former South Korean Social Media Giant to Relaunch Its Business by Creating a New Ethereum-Based Token
5.2.2021
A social media giant that significantly impacted South Korea’s internet influence in the early 2000s is set to take a second breath. The company plans to regain its popularity by launching a new cryptocurrency. New Ownership Reportedly Got Over $7 Million From Investors to Rebrand Cyworld...
Bithumb CEO Predicts Only Four to Seven South Korean Crypto Exchanges Will Survive New Rules
20.1.2021
The CEO of the South Korean cryptocurrency exchange Bithumb has made some predictions regarding the upcoming new rules governing the national industry. In fact, the executive believes there will only be between four and seven exchanges surviving the new regulation. Smaller Companies Unlikely...
CEO Sentenced to 18-Month Jail Term for Accepting Bitcoin Bribes to List a Cryptocurrency
15.1.2021
A South Korean court has sentenced the former CEO of the defunct crypto exchange Coinnest to 18 months in prison. The court also fined him over $61,000, who also was charged for fraud in 2020. Prosecutors Accused Coinnest Executives of Receiving 110 BTC in Bribes According to Fn News, the Supreme...
Major South Korean Bank Shinhan Is Set to Offer Crypto Custody-Related Services
9.1.2021
A major commercial bank in South Korea is entering the crypto business by allocating an equity investment in the Korea Digital Asset Trust (KDAC). Shinhan Bank is looking to offer digital asset custody services. Bank Expects to Offer Tech Capabilities to Face Defi-Related Hacking Risks According...
South Korean Government to Start Taxing Crypto Trading Profits in 2022
8.1.2021
The South Korean government has issued an amendment to introduce tax on cryptocurrency trading profits. The plan is now a reality after several attempts to delay it by lawmakers. New Rules Impose 20% Tax on Crypto Profits Per Asia Today, the legislative notice details that the amendment will...
South Korean Politicians Won’t Be Required to Disclose Their Crypto Holdings After Proposals Failed to Pass the National Assembly
6.1.2021
South Korean politicians won’t be required to disclose their crypto holdings or crypto-related earnings as no fewer than three cryptocurrency-related bills failed to pass the National Assembly. Proposal Submitted in November 2020 According to the Electronic Times, the bills aimed to require...
Production of $2.7 Million-per-Episode: South Korean Crypto-Related TV Drama Series Is Set to Start in 2021
31.12.2020
A major South Korean TV series with crypto and blockchain-related topics is set to launch its production stage at the beginning of 2021, directed by Gemstone Film, in collaboration with firms in China and the United States. South Korean Crypto-Related TV Drama Series ‘Pumping Time’...
Crypto Exchange Upbit Brings in Withdrawal Delay in Bid to Tackle Fraudsters
27.11.2020
The South Korea-based exchange has announced a 24-hour cryptocurrency withdrawal delay in an effort to protect user accounts from malicious attacks
South Korean exchange traffic has risen sharply since June — Is this why?
11.9.2020
The boost may come down to the popularity of one specific token
South Korea’s Finance Minister Confirms Plan to Tax Cryptocurrency
17.6.2020
Although scant on details, South Korea’s finance minister has confirmed that taxes will be imposed on cryptocurrency in the country
Another Exchange Delists Monero Amidst Ongoing Sex Scandal
15.5.2020
Another cryptocurrency exchange delists XMR in South Korea in the midst of the Nth room sex scandal case
Buried Report Reveals Factors Behind South Korea’s ‘18 Crypto Crackdown
8.5.2020
A newly unearthed report from South Korea’s financial watchdogs has revealed the rationale behind the country’s 2018 crypto crackdown
International Regulatory Milestones for Crypto Exchanges in 2020
15.4.2020
2020 has already become the year of new regulations worldwide: What’s new for cryptocurrency exchanges?
Binance Users Can Now Buy Crypto Using Debit Cards in 5 New Fiat Currencies
10.4.2020
Binance is extending Visa support for crypto purchases using the Colombian peso, South Korean won, Kenyan shilling, Kazakhstani tenge and Peruvian neuvo sol
South Korea Passes Bill to Regulate Cryptocurrency in Line With FATF Standards
7.3.2020
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...