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South Korean Tax Agency Carries out Irregular Audit on Crypto Exchange Operator
26.1.2021
The team of investigators requested past data and transaction details from Korea Digital Exchange
‘Over-Regulation’ May Scupper South Korea’s Fledgling Crypto Sector
22.1.2021
Source: Adobe/y fran_kie
Critics have accused Seoul of “over-regulation,” claiming that a new South Korean crypto law – which will promulgate in a matter of weeks – could marginalize the industry.
Per a report from EBN, voices of concern are growing louder within the crypto sector, with some...
Robbers Take $450K From a Tether Trader During an In-Person Transaction in Hong Kong — Second Incident in 2021
21.1.2021
Hong Kong police are investigating the second incident in the year involving an offline cryptocurrency transaction. A female trader is reportedly the latest victim of robbers who stole her HKD 3.5 million ($451,000) worth in tether (USDT) tokens. One of the Robbers Gained Female’s Trust...
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...
South Korean Traders Offered First Fear-Greed Crypto Volatility Tool
19.1.2021
Source: Adobe/sergei_fish13
The South Korean crypto firm Dunamu, the operator of the market-leading Upbit trading platform, has launched a real-time digital assets “fear-greed” gauge that it claims will help crypto enthusiasts measure whether traders are spooked, clambering for profits –...
South Korea’s Dunamu Launches Bitcoin ‘Fear and Greed’ Index to Guide Traders
19.1.2021
The tool is aimed to help traders make better decisions based on market sentiment
South Korean Carrier SKT Launches Blockchain-powered Certification App
19.1.2021
The South Korean mobile carrier SK Telecom (SKT) has announced the launch of a blockchain-powered ID and authentication certificates service.
According to Gvalley News, SK Telecom, part of the SK business conglomerate and one of the two biggest mobile carriers and internet providers in the nation...
Huobi Korea scores certification from Korea Internet and Security Agency
18.1.2021
The South Korean arm of global crypto giant Huobi has acquired an ISMS certification to comply with the upcoming Special Payment Act
K-Pop Sensation Mamamoo to Mint Digital Collectibles on Polkadot
16.1.2021
The popular K-Pop girl band's parent company RBW is now selling its singers' digital products on the blockchain
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...
Liquidators seek expanded probe of alleged South African Bitcoin scheme
15.1.2021
Liquidators of the embattled Mirror Trading International want a deeper probe of the alleged Bitcoin multi-level marketing scheme
Liquidators of South African Bitcoin Trading Club Request Greater Probe Powers
15.1.2021
Placed under provisional liquidation last month, Mirror Trading had claimed to be able to offer returns of 10% a month using bots to trade client's bitcoin
South Korea’s tourist hotspot launches DLT-based app tracing COVID-19
14.1.2021
Jeju Island and blockchain company Iconloop are proceeding with a full rollout of their COVID-19 contact tracing app following successful pilots
South Korean Banks ‘Play to Their Strengths’ with Bitcoin Custody Moves
12.1.2021
South Korean commercial banks are now in “fierce competition” with each other in the race to launch bitcoin (BTC) and other cryptoassets custody products that they believe will prove a lucrative market for them, per a new report.
According to media outlet Newsis, industry sources claim that...
Korea’s Shinhan Bank makes strategic investment in crypto custody consortium
11.1.2021
South Korea’s Shinhan Bank has invested in a crypto custody service backed by local crypto exchange Korbit
South Korean gaming conglomerate Nexon denies plans to acquire Bithumb
11.1.2021
Reports last week had claimed that Nexon was poised to acquire the exchange at an evaluated price of roughly $460 million
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 Gaming Giant Planning to Buy Crypto Exchange Bithumb for $460 Million
8.1.2021
Nexon, the South Korean multi-billion-dollar gaming conglomerate, is reportedly planning to buy a 65% stake in troubled crypto exchange Bithumb in a deal worth about 500 billion won ($460 million). ● According to local media reports, Nexon is to buy all the shares owned by Bithumb chairman...
Third Major South Korean Bank to Enter Crypto Custody Fray
7.1.2021
More mainstream South Korean financial companies are taking the crypto plunge, with Shinhan Bank, one of the biggest commercial banks in the country, making a move into the crypto custody industry with a strategic equity investment in the Korea Digital Asset Trust (KDAC).
The KDAC is...