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South Korean think tank cautions against crypto ETFs
24.6.2024
South Korean researcher Bo-mi Lee highlights crypto volatility and risks, calling for more research and regulatory measures
Korean Exchanges Set to Reevaluate Over 600 Listed Virtual Assets
18.6.2024
South Korean cryptocurrency exchanges are set to reevaluate more than 600 digital assets, and those failing this process will ultimately be delisted. Once the process is completed, crypto exchanges will be required to conduct maintenance reviews quarterly. The reputation of the issuers and user...
Zksync’s ZK Token Debuts With $932M Valuation, South Korean Market Shows Strong Interest
17.6.2024
Zksync’s token, known as ZK, is currently trading at a value 19% below its initial price of $0.321 during early morning sessions. The new cryptocurrency’s market valuation stands at $932.14 million, with each ZK token trading at $0.2575. This positions ZK among the top 100 largest market...
South Korean crypto exchanges may deregister up to 600 altcoins
17.6.2024
South Korea based crypto exchanges are contemplating the deregistration of hordes of altcoins, with financial bodies clamping down on the altcoin space. As per the news reports put forth by Daehan Kyungjae, the newly introduced Virtual Asset User Protection Act will be duly implemented soon....
North Korean cyberattacks on Brazilian fintech firms exposed
13.6.2024
Google Cloud’s report exposes North Korean cybercriminals targeting Brazil’s cryptocurrency and fintech sectors with sophisticated malware and phishing schemes
South Korean Regulator Excludes Certain NFTs From Crypto Regulations
11.6.2024
South Korea’s top financial regulator has issued guidelines clarifying when non-fungible tokens (NFTs) are considered virtual assets. This distinction aims to minimize the risk of widespread user harm. The guidelines will be part of the Virtual Asset User Protection Act, effective July...
Gold Rush Hits Seoul Streets: Gold Bars Now Sold in Vending Machines
9.6.2024
Vending machines in Seoul, South Korea, are revolutionizing the traditional concept of buying gold by offering gold bars in various sizes. Situated within convenience stores throughout the affluent Gangnam district and other areas, these machines meet the growing demand for micro-investments among...
70% of Korean Crypto Exchanges Fail to Repay Customers After Closure, Regulator Says
8.6.2024
A joint research effort by Korean regulators — the Financial Supervisory Service (FSS) and Korea Financial Intelligence Unit (FIU) — has revealed that seven out of 10 cryptocurrency exchanges in South Korea failed to fully return investors’ money after ceasing operations. “And even if they...
Bitcoin Surpasses $70,000, Reaches Intraday High of $71,031
4.6.2024
The price of bitcoin (BTC) climbed above the $70,000 mark on Tuesday, hitting an intraday peak of $71,031 on Bitstamp. This marks a nearly 3% increase over the past day, adding approximately $1,891 in value since the 24-hour low. Bitcoin’s Price Stabilizes Above $70,000 Bitcoin remains...
South Korean Universities Face Banking Hurdles in Converting Crypto Donations to Cash
30.5.2024
South Korea’s regulations prohibiting corporations from opening virtual asset exchange accounts are making it impossible for local universities to liquidate their large cryptocurrency donations. Financial authorities cite money laundering concerns as the reason for maintaining the ban. Education...
South Korean Bitcoin Premium Rises to 2.23% Amid Market Volatility
28.5.2024
This week, bitcoin’s price briefly exceeded $70,000 per coin before declining after the movement of Mt Gox bitcoins, yet the premium for bitcoin in South Korea has significantly increased. Having fallen below the 1% range, the premium on South Korean exchanges has now climbed to 2.23%....
Altcoin Interest Driving South Korean Crypto Craze – Report
28.5.2024
Altcoin interest may be the driving factor as South Korean interest in alternative cryptoassets continues to rise, a new report has claimed.
The post Altcoin Interest Driving South Korean Crypto Craze – Report appeared first on Cryptonews
Binance Sells Gopax’s Genesis Asset Rights at Steep Discount, Leading to Significant Losses
27.5.2024
Binance, which became the largest shareholder of the South Korean cryptocurrency exchange Gopax, recently sold the asset claims of Gopax victims at less than half their face value.
The post Binance Sells Gopax’s Genesis Asset Rights at Steep Discount, Leading to Significant Losses appeared...
US ETH ETF approval pressures Korean regulators
25.5.2024
Unlike their U.S. counterparts, Korea’s FSC and FSS have been cautious about allowing crypto trading on traditional securities markets
South Korean Police Arrest 19 in ‘Reading Room’ Crypto Fraud Bust
24.5.2024
South Korean police have arrested 19 people on fraud charges in a swoop on a social media “crypto reading room.”
The post South Korean Police Arrest 19 in ‘Reading Room’ Crypto Fraud Bust appeared first on Cryptonews
South Korean Police Arrest 28 in Raid on ‘Crypto Investment Fraud Ring’
23.5.2024
South Korean police officers have arrested 28 people they suspected of orchestrating a crypto investment fraud ring.
The post South Korean Police Arrest 28 in Raid on ‘Crypto Investment Fraud Ring’ appeared first on Cryptonews
South Korea’s Crypto Premium Drops Below 1% as Bitcoin and Ethereum Prices Align Globally
22.5.2024
South Korea’s infamous crypto premium has diminished significantly, with bitcoin and ethereum prices now aligning closely with the weighted global averages, albeit with a minor premium. The BTC premium stands at 0.84%, while ETH’s premium is in a similar range. South Korea’s...
Ethereum-themed Scam Targets South Korean Crypto Community
22.5.2024
Fraudsters are targetting South Korean crypto users with an Ethereum-themed scam, token holders in the country said on May 21.
The post Ethereum-themed Scam Targets South Korean Crypto Community appeared first on Cryptonews
ZachXBT Uncovers 7 More Addresses Linked to Lazarus Worth $61 Million—Here’s the latest
21.5.2024
ZachXBT has identified seven wallet addresses containing 891.13 Bitcoin, worth approximately $61 million, linked to the infamous North Korean hacking group Lazarus.
The post ZachXBT Uncovers 7 More Addresses Linked to Lazarus Worth $61 Million—Here’s the latest appeared first on Cryptonews
Stablecoin Market Faces Fresh Challenges with ‘Fourth-Gen Coins’ – South Korean Report
21.5.2024
South Korean analysts think new challenges await the “next generation” of stablecoins, as the industry continues to develop.
The post Stablecoin Market Faces Fresh Challenges with ‘Fourth-Gen Coins’ – South Korean Report appeared first on Cryptonews