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South Korean Banks Earned USD 31M in Crypto Transaction Fees Last Year
17.5.2022
Three South Korean banks earned USD 31.2m from their crypto exchange partnership deals in 2021, new data has revealed – suggesting that partnering with trading platforms could be paying off for the often-cautious domestic banking sector....
Read More: South Korean Banks Earned USD 31M in Crypto...
Report: Terra Founder Do Kwon’s Spouse Seeks Police Protection After the LUNA and UST Fallout
14.5.2022
Following the aftermath of the Terra blockchain tokens LUNA and UST losing significant value, reports indicate that the Terraform Labs founder Do Kwon’s apartment was visited by an unidentified person. Do Kwon’s spouse has requested protection from the Seongdong police in Seoul after...
Leaked report: South Korea to establish crypto framework by 2024
12.5.2022
The effort will include issuing guidance for NFTs and ICOs, expanding infrastructure and supporting CBDC research
South Korean Court Gains Support from Exchanges in Bid to Include Crypto in Bankruptcy Cases
12.5.2022
South Korea’s judiciary is set to include crypto holdings in lists of debtors’ assets in bankruptcy cases – and the nation’s leading crypto exchanges have agreed to cooperate with courts on the matter....
Read More: South Korean Court Gains Support from Exchanges in Bid to Include Crypto...
Sony & Theta Set to Launch ‘3D NFTs’, Eye Tie-in with its Spatial Reality Display
6.5.2022
Non-fungible tokens (NFT) are going 3D – and Sony wants to be the firm that takes them into a new dimension....
Read More: Sony & Theta Set to Launch ‘3D NFTs’, Eye Tie-in with its Spatial Reality Display
Brace for More S Korean Altcoins as President-Elect Prepares to Ditch ICO Ban
5.5.2022
South Korea’s President-Elect Yoon Suk-yeol has indicated he is ready to come good on some of the crypto-related campaign promises that helped him win power earlier this year – and could end an initial coin offering (ICO) ban that dates back to 2017....
Read More: Brace for More S Korean...
South Korea's new president delays crypto taxes in favor of consumer protections
4.5.2022
The country’s president elect is proving his crypto savvy by declaring there will be no tax on crypto investment gains until legislation can ensure consumer protections
Report: Two South Koreans Paid in Bitcoin to Spy for North Korea
4.5.2022
South Korean law enforcement recently announced the arrest of a serving military captain and an operator of a cryptocurrency exchange on charges of spying for a North Korean hacker. In return for the acts of espionage, the two South Korean individuals were allegedly paid bitcoins worth a total...
South Korea’s Biggest Neobank Reportedly on Verge of Crypto exchange Banking Deal
4.5.2022
Kakao Bank, South Korea’s biggest neobank and an affiliate of the internet giant Kakao, has refused to confirm or deny that it has struck a partnership deal with Coinone – one of the four biggest crypto exchanges in the country....
Read More: South Korea’s Biggest Neobank Reportedly on Verge...
South Korean Crypto Exchanges Resume Service as Usual after Travel Rule Breakthrough
28.4.2022
South Korea’s biggest crypto exchanges have finally linked their rival Travel Rule solutions – over a month after a new law that requires trading platforms to abide by the protocol came into force.
As previously reported, the Financial Action Task Force (FATF)’s measure, which requires...
Study: Switzerland Has ‘the Most Profitable Bitcoin Traders’ Worldwide, While France ‘Is the Best Bitcoin Trading Nation’
20.4.2022
According to a recent study published by the online investing news and education platform Invezz, Switzerland currently has the most profitable bitcoin traders worldwide. That’s according to data stemming from Chainalysis, Worldometers, and Triple A, which helped Invezz assign each country...
More Big-hitting South Korean Non-crypto Firms Eyeing Token Launches
20.4.2022
Yet more big-hitting South Korean companies from outside the crypto sector are beginning to branch out into crypto-related business – with the e-commerce giant TMon and the KOSDAQ-listed hotel chain Ananti making moves on the token issuance front....
Read More: More Big-hitting South Korean...
South Korea Begins to Fulfill President Elect’s Pledge to Bolster the NFT Ecosystem
14.4.2022
An announcement by South Korea’s Ministry of Culture, Sports and Tourism appeared to fulfill incoming President Yoon Suk-yeol’s pledge to bolster the metaverse ecosystem after saying it will adopt a non-fungible token (NFT) copyright policy. Supporting the Metaverse Ecosystem...
‘Let’s Create a Crypto Ministry,’ Industry Urges South Korean President-Elect
13.4.2022
A summit of South Korean lawmakers, industry chiefs, and leading academics has called for the country’s President-Elect Yoon Suk-yeol to create a minister – or a ministry-level agency – for the crypto sector....
Read More: ‘Let’s Create a Crypto Ministry,’ Industry Urges South Korean...
South Korean Bank Shinhan Launches Nation’s First Corporate Crypto-Fiat Account
9.4.2022
The South Korean commercial banking giant Shinhan has become the first bank in the nation to offer crypto account services to a corporate client.
ZDNet Korea reported that on April 7, the bank created a corporate fiat KRW account exclusively for cryptoasset transactions to the crypto exchange...
South Korean Intelligence Service Informs Crypto Exchanges About Cyberthreats
8.4.2022
The South Korean state intelligence agency is now providing crypto trading platforms with information about attempts to breach their cybersecurity. The help for the country’s digital asset exchanges comes amid growing threats, local media reported. Intelligence Service Offers Cybersecurity...
First Mover Asia: South Korea's 'Kimchi Premium' Evaporates; Major Cryptos Tumble on Fed Minutes, Continued Global Uncertainty
7.4.2022
The gap between bitcoin prices on Korean crypto exchanges compared to global counterparts has declined from 20% to about 3% over the past year; bitcoin and ether tumble
Two Major Banks Roll out Blockchain-powered ID Solution for Military Servicepeople
5.4.2022
Two of South Korea’s largest banks are set to launch a blockchain-powered digital certificate platform for military personnel – which will allow soldiers to use smartphone-based ID solutions to open savings accounts without having to set foot in a brick-and-mortar bank branch....
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Financial Heavyweight Woori to Launch B2B Crypto Wallet Management Platform
1.4.2022
South Korea’s Woori Fund Service – a part of the financial business group that also comprises the commercial bank heavyweight Woori Bank – will team up with the domestic crypto exchange GDAC to unveil a business-to-business (B2B) crypto wallet management solution.
Hanguk Kyungjae reported that...
First Mover Asia: Tailwinds for South Korea's Crypto Industry; Bitcoin, Ether Plunge
1.4.2022
The report earlier this week of SK Group's $1.6 billion investment over the next three years on semiconductors and blockchain follows a presidential campaign that made crypto-friendly policies an important issue; major altcoins also decline