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South Korea’s Bitcoin ‘Kimchi Premium’ Reappears, Korbit and Bithumb Exchange Volumes Spike
26.4.2021
During the first week of April, South Korea’s ‘kimchi premium’ on domestic cryptocurrency exchanges had jumped over 18%, but then leveled off, equalizing with global exchange rates over the last two weeks. On Monday, as bitcoin prices spiked 8% higher surpassing the $54k zone,...
South Korean Prime Minister nominee to look into controversial crypto tax law
26.4.2021
South Korea’s crypto tax law continues to face significant opposition from cryptocurrency proponents in the county
Former Employees From Major South Korean Firms Quit Their Jobs After Pocketing Millions in Crypto Profits
24.4.2021
South Korea’s crypto-sphere has been witnessing a volatile environment in terms of regulatory moves, as bitcoin prices and other altcoins are also having wild moves. Such a scenario hasn’t stopped the country’s middle class to profit from the crypto market, even with very...
South Korean Crypto Grannies and Grandpas Shoot for the Moon
23.4.2021
Is crypto exclusively a young person’s game? Not in South Korea, it seems, where – in addition to crypto moms, some of whom are not afraid to ask their children for trading tips, crypto grannies and grandpas are starting to get involved in the bitcoin (BTC) and altcoin markets.
South Korea Crypto...
South Korean Customs Officials Promise their Own ‘Crypto Crackdown’
22.4.2021
South Korean customs authorities have added their voices to the choir of public officials promising to “clamp down” on illegal crypto transactions – particularly those involving overseas remittances and opportunistic traders seeking to take advantage of the kimchi premium.
In a report from...
South Korean Government Seeks to Regulate International Remittances Related to Crypto ‘Kimchi Premium’
22.4.2021
The famous gap in cryptocurrency prices in South Korean crypto exchanges and overseas ones known as “kimchi premium” raises some concerns among the nation’s government. The latest reports suggest that the country is planning to regulate international remittances tied to kimchi...
South Korean City Threatens to Seize Cryptos From Tax Evaders
16.4.2021
Crypto tax evasion is becoming a hot potato for the authorities in some Asian countries, such as Japan and South Korea. A South Korean city is now actively fighting against tax evaders who are suspiciously reporting meager earnings in their filings. 511 Individuals in the Authorities’ Eyes...
Former South Korean Social Media Giant in Talks ‘With Major Gaming Companies’ to Implement Its Crypto
15.4.2021
A former South Korean social media giant is still keeping alive its promise to relaunch its business with the help of the cryptocurrency industry. A local media outlet reported that Cyworld is in talks with “major gaming companies” that involve crypto-related ventures. Company Also...
S Korean MPs Seek to Ban Crypto Felons from Returning to the Industry
15.4.2021
Convicted South Korean crypto criminals should be barred from re-entering the domestic crypto market, lawmakers have stated – as politicians continue what they have vowed will be a “crackdown” on irregularities in the industry.
Per the media outlet Weekly Today, the influential MP Lee Jung-mun,...
South Korean City Goes to War with Tax Evaders, Will Seize their Crypto
14.4.2021
The South Korean city of Gyeongju, in North Gyeongsang Province, has announced that it will investigate tens of possible cases of suspected tax evasion to see if high tax-band individuals are concealing their money in crypto – with token “collection and seizures” possible.
Per Gugkje News, the city...
South Korean crypto traders are pivoting to ‘smaller cap’ altcoins
13.4.2021
Bitcoin trading activity in South Korea has reportedly dipped amid rising interest in smaller altcoins
South Korean Government Announces Crackdown on Illicit Crypto-Related Transactions in an ‘Overheated Market’
10.4.2021
Adding to the South Korean cryptocurrency industry’s stricter regulations, the central government is focusing on the “crackdown” of illegal crypto transactions. A meeting over the week held with high-ranked politicians resulted in a campaign that will soon be deployed. Government...
New South Korean Crypto ‘Crackdown’ not ‘Bluster’ as Banking Ties Strain
8.4.2021
Source: Adobe/Raphaël Bourgeois
The South Korean government has announced that it will embark on a “crackdown” on illegal crypto transactions, including those made on international crypto exchanges – following a meeting of high-powered political leaders, law enforcers and financial...
North Korean Hackers Threatened Bithumb Exchange With a $16M Ransom Amid the 2017 Data Breach, Says Report
7.4.2021
A new report commissioned by the U.S. secret services unveiled what happened behind the attack launched by North Korean hackers against a South Korean crypto exchange. The case is about a breach on June 29, 2017, which exposed data tied to over 30,000 customers stemming from Bithumb. Hackers...
At Least 10 South Korean Crypto Exchanges’ ‘Survival Not Guaranteed’
7.4.2021
More South Korean crypto exchanges are almost certain to fold in the months ahead, regulators and industry insiders have claimed, with just five months left before some of the toughest policing measures in the world come into force.
Per Fn News, regulatory sources familiar with the matter claim...
South Korea’s Kimchi Premium Returns: BTC and ETH Prices Jump 18% Higher Than the Global Average
6.4.2021
While a great number of spot exchanges have seen consistent prices in a few select areas in the world, bitcoin is selling for a premium. That’s the case in South Korea right now as there’s a price gap, otherwise known as the ‘kimchi premium’ on domestic South Korean...
South Korean Newspaper to Give its Subscribers Kakao's Klay Token
6.4.2021
In an unprecedented move, the mainstream South Korean newspaper Hanguk Kyungjae has announced that it will begin giving out crypto tokens to subscribers of its print and online editions.
The newspaper (English name: “Korea Economic Daily”) is one of the nation’s leading financial dailies. It...
Kimchi Premium ‘Returns’ as South Korean Youth ‘Rushes’ to Bitcoin
5.4.2021
South Korea’s bitcoin (BTC) boom appears to have returned in earnest, with more reports of investors aged 20-39 plunging into the market, and claims that the “kimchi premium” may have returned for the first time in earnest since early 2018.
The kimchi premium was a phenomenon whereby BTC and some...
South Korean gov't makes $10.5M profit from 4-year-old Bitcoin crime haul
1.4.2021
The coins languished in cold storage for four years after being confiscated by authorities during an arrest
Study Finds South Koreans Aged 20-39 Mainly Invest up to $100 in Cryptocurrencies
31.3.2021
South Korea’s “crypto boom” is a term that the local media has widely adopted to refer to the current hype seen across the Asian nation. In fact, a recent study unveiled a rising trend in the number of South Koreans making small-scale crypto investments. New Crypto Investors Seem...