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South Korean Crypto Fraudster Jailed for 7 Years
9.10.2023
A convicted South Korean crypto fraudster has been sentenced to seven years in prison.
Per Newsis and Segye Ilbo, a division of the Suwon District Court sentenced an unnamed individual in their 30s to jail after hearing how they defrauded victims of some $2.2 million.
The court heard that...
Crypto exchange Upbit was targeted by hackers 159K times in H1: Report
9.10.2023
The figure is more than double recorded in the first half of 2022 and a massive 1800% increase from the same period in 2020, according to the operating firm
South Korean Debt Collectors Coming for Crypto Holders
6.10.2023
South Korean debt collectors are now seizing crypto in insolvency cases – and may soon be granted even more power to confiscate coins.
Per Hanguk Kyungjae, the Korea Deposit Insurance Corporation (KDIC), a firm that operates under the Financial Services Commission (FSC), has begun “seizing...
South Korean Central Bank Sets ‘Real-World’ CBDC Pilot Date
5.10.2023
The South Korean central bank has set a date for its “real-world” CBDC pilot, with the first citizens slated to use the coin in the fourth quarter of FY2024.
Per the broadcaster KBS, the Bank of Korea (BOK) will team up with the country’s top financial regulators – the Financial Services...
South Korean Gaming Giant Netmarble Affiliate to List Coin on Japanese Exchange
5.10.2023
The South Korean video games giant Netmarble has made a blockchain gaming breakthrough with its subsidiary’s coin set to be listed on the Japanese crypto exchange Zaif.
Per Yonhap, the coin, MarbleX’s MBX, will be listed on the platform on October 11.
MarbleX is Netmarble’s blockchain gaming arm....
Japan May Become ‘Crypto El Dorado’ – South Korean Experts
4.10.2023
Japan is aiming to become a crypto and Web3 “powerhouse,” South Korean analysts and experts believe – but some think Seoul still has what it takes to surpass Tokyo.
Per Chosun Ilbo, South Korea’s biggest newspaper, Seoul-based crypto firms are concerned by the Japanese government’s proactive...
South Korean Overseas Crypto Holding Figures 'May Be Inflated': Report
3.10.2023
The research division of the South Korean crypto exchange Korbit revealed that the amount of overseas digital assets reported by domestic corporations and individuals to the National Tax Service, “may be inflated.”
The significant value of the reported amount is probably pumped up during...
South Korean Court Jails Septuagenarian Bitcoin Fraudster
2.10.2023
A South Korean court has handed a 70-year-old man a jail sentence after finding him guilty of Bitcoin (BTC)-powered fraud.
Kyeonggi Ilbo reported that the unnamed man, identified only by the initial A, was given a one-year prison term for enabling “telecommunications-related financial...
South Korean Entertainment Giant Dreamus Embraces NFTs for K-Pop Tickets
23.9.2023
South Korean entertainment and events company Dreamus, a subsidiary of SK Planet, is breaking into blockchain by offering NFT ticketing services through its parent company’s rewards app.
The app lets fans purchase tickets for various events, including K-pop concerts and other shows, in the form...
South Korean’s Busan to Launch Digital Assets Trading Platform ‘This Year’
22.9.2023
The South Korean city of Busan says it will launch a long-awaited blockchain-powered digital assets trading platform before the year is over.
Per Meil Kyungjae, Busan city officials told reporters this week that they want to create a “fourth-generation blockchain-powered exchange” that “can...
Best Crypto to Buy Now September 21 – ImmutableX, Algorand, Aave
21.9.2023
Intrigue is swirling after X's inaugural Client Council event provided insight into the platform's ambitions to evolve into "The Everything App," with many in crypto circles dissecting hints about potential peer-to-peer payment options.
While details remain scarce, the event spotlighted X's vision...
South Koreans Report Over $98 Billion in Overseas Crypto Assets
21.9.2023
South Korean tax payers have declared some 131 trillion won (more than $98 billion) of crypto holdings in overseas accounts this year. The amount was announced by the country’s tax agency and it comes after the authorities in Seoul imposed a mandatory reporting requirement for financial assets held...
70% of South Korean Reported Foreign Assets Are Crypto- Here’s More
20.9.2023
South Korea’s crypto adoption grows as authorities disclosed that 70% of the nation’s reported overseas assets are cryptocurrencies.
On Sept 20, The country’s National Tax Service (NTS) in an official release stated that 5,419 business and individuals reported their financial accounts with...
Crypto makes up 70% of South Korean overseas assets: National Tax Service
20.9.2023
1,432 individuals and corporations in South Korea have reported holding $98 million in crypto overseas, which is 70% of all reported assets
South Korean Authorities Take Aim at Unregulated Crypto OTC Desks Amid Money Laundering Concerns
19.9.2023
South Korean prosecutors and regulators are directing their attention toward reported issues concerning unregulated cryptocurrency-based over-the-counter (OTC) trading and deposit enterprises. During the third annual prosecutors’ conference, officials proposed the necessity for enhanced...
South Korean Regulators Eye OTC Crypto Regulation
18.9.2023
South Korean regulators look set to turn their attention to the over-the-counter (OTC) crypto market, with indications regulation could be on its way.
The nation has moved to shore up its regulatory system this year in the wake of the so-called “Terra-Luna scandal,” which left thousands...
That Gothic Pinocchio Soulslike Has A Pretty Neat Weapon Durability Mechanic
15.9.2023
Look, if you ask me, weapon durability is some bullshit. It’s ostensibly meant to encourage experimentation, but its implementation in games like Dead Island 2 and The Legend of Zelda: Tears Of The Kingdom does more to create headaches than to inspire some extemporaneous testing of a variety...
South Korean Bitcoin lender Delio plans to sue regulators: Report
14.9.2023
South Korean financial regulators accused Delio of fraud and embezzlement and seized its assets in July earlier this year
South Korea Seeks to Freeze North’s Crypto Assets Under New Law
6.9.2023
The government in Seoul intends to submit new legislation tailored to facilitate the tracking and freezing of crypto used to fund the weapons programs of North Korea. A bill has been drafted after extended consultations between ministries with the aim to make South Korean sanctions more effective...
South Korean Hana Bank enters crypto custody business with BitGo
5.9.2023
KEB Hana Bank and BitGo plan to launch a joint cryptocurrency custody venture in the second half of 2024