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South Korean Crypto Exchanges Mandated to Maintain Reserve Funds of $2.3 Million
28.8.2023
South Korean cryptocurrency exchanges will be required to maintain a reserve fund of at least 3 billion won (approximately $2.3 million) in designated bank accounts starting September.
The new regulations for crypto exchanges are aimed at enhancing user protection in the event of unforeseen...
South Korean Central Bank Set to Unveil CBDC ‘Blueprint’ Next Month
25.8.2023
The South Korean central bank, the Bank of Korea (BOK), is set to showcase a “blueprint” for its CBDC in September as the nation looks to speed up the progress of its digital KRW.
Per Fn News and the Byline Network, the BOK has “successfully completed” a CBDC interoperability-focused pilot...
South Korean Crypto Murder Case Takes New Twist – Suspect: ‘My Confession Was False’
25.8.2023
A bizarre South Korean crypto-related murder case has taken a new twist, with one of the chief suspects telling a court his initial confession was “false.”
The case revolves around a woman who was apparently abducted from a busy street in Seoul’s affluent Gangnam District in March this year.
The...
XRP Price Prediction as New Report Shows XRP is More Popular Than BTC and ETH Among Gen Z in South Korea – Time to Buy?
24.8.2023
The XRP price has increased by 0.5% in the past 24 hours, reaching $0.523148 as the cryptocurrency market as a whole made a small recover today after recent losses.
XRP's move also comes after the publication of a report which found that the altcoin is the most favored cryptocurrency among...
Naver Corp unveils South Korea's answer to ChatGPT and generative AI
24.8.2023
South Korean internet giant Naver Corp. has released CLOVA X, a Korean language chatbot similar to ChatGPT that can have conversations and summarize text
GenZ in South Korea prefer XRP and other altcoins to BTC and ETH: Report
23.8.2023
A report from a local South Korean publication found that 20% of GenZ investors in the country have XRP as their most selected altcoin
K-Pop Superstars Blackpink Launch Metaverse Experience in Roblox – Is The Metaverse Making a Comeback?
23.8.2023
K-pop giant Blackpink is set to go live on the popular Roblox gaming platform with a new immersive experience for Blinks, the group's fans.
"BLACKPINK has come to Roblox for the first time," the event description said.
'Blackpink: The Palace' was built by the metaverse studio Karta...
New Report Suggests About 8,000 Korean Residents May Lose Digital Assets Over Tax Evasion
22.8.2023
Financial regulators in the South Korean city of Cheongju are set to confiscate digital assets from local tax evaders.
According to a report on Aug 22 by Yongap, a local news agency, the authorities of the city have set plans in motion to clamp down on virtual asset holders in centralized...
South Korean city to seize crypto from thousands of tax evaders: Report
22.8.2023
City authorities of Cheongju are looking to seize cryptocurrency from anyone who owes at least $750 in crypto taxes to the government
‘Crypto Debt’ Drove South Korean College Student to Armed Robbery
21.8.2023
A South Korean man has been handed a suspended jail term of almost three years after he was found guilty of armed robbery “to clear a crypto debt.”
According to the South Korean media outlet WowTV, the unnamed criminal was 22 years old and had amassed debts of over $37,000 due to “failed...
SEC seeks to question Terraform Labs co-founder Daniel Shin in Korea
18.8.2023
The SEC seeks to question Daniel Shin on Do Kwon and Chai Corporation’s relationship with Terraform Labs
South Korean Police Arrest 312 in Crypto-powered Drug Trading Busts
16.8.2023
South Korean police are stepping up their crackdown on crypto-powered drug trafficking, and have made 312 arrests in a wide-sweeping narcotics bust.
The broadcaster KBS reported that the arrests were carried out by the Seoul Metropolitan Police Agency’s Drug Crime Investigation.
The suspects were...
Anthropic AI raises $100m from South Korea to bolster telecommunications industry
14.8.2023
The Google-backed AI developer Anthropic raised $100 million in funding from South Korean telecommunications giant SK Telecom to bolster industry
S Korean Prosecutors Want to Jail $651m ‘Crypto Scammers’ for 12-15 Years
12.8.2023
South Korean prosecutors say they hope to jail executives thought to be behind a $651 million crypto scam to prison for up to 15 years.
Per the media outlet Asia Kyungjae, the alleged scam saw 8,000 people left out of pocket.
The scammers allegedly offered individuals “payouts” if they paid their...
South Korea arrests Bitsonic CEO for stealing $7.5 million of users’ money
9.8.2023
The Vice President of the crypto exchange would also be put on trial, but without preliminary detention
SEC-Ripple Ruling a ‘Silver Lining’ for South Korean Prosecutors in Do Kwon Case
9.8.2023
The XRP trial ruling may reportedly negatively impact South Korean prosecutors’ bid to convict Do Kwon and Terraform Labs of fraud and securities violations, but officials claim otherwise.
The US Securities and Exchange Commission (SEC) has expressed its “disappointment” at a court ruling last...
Korean superconductor LK99 joins memecoin craze
4.8.2023
The world's supposed first room-temperature ambient pressure superconductor already has a memecoin
South Korea's CBDC Pilot to Take Place in Jeju, Busan, or Incheon, Excluding Seoul
1.8.2023
The central Bank of Korea (BOK) has narrowed down the choices for its central bank digital currency (CBDC) pilot venue to three regions. Notably, the nation's capital Seoul is not among these.
The major regions chosen as candidates are Jeju, Busan, and Incheon, according to IT Chosun. ...
Today in Crypto: Crypto Firms in Hong Kong Can Open 'Simple' Bank Accounts Only, Elderly Couple in US Held Hostage for $156,000 in Crypto, Binance Can Operate in Dubai But Not in Nigeria
31.7.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: Today in Crypto: Crypto Firms in Hong Kong Can Open 'Simple' Bank Accounts Only, Elderly Couple in US Held Hostage...
Bank of Korea to Exclude Seoul From CBDC Pilot Study Next Year: Report
31.7.2023
Jeju, Busan and Incheon are in the running to be considered