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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...
South Korean Software Behemoth Hancom Wades into DeFi Arena
7.1.2021
A group of South Korean companies, including a subsidiary belonging to the software giant Hancom is set to launch a DeFi (decentralized finance) project – marking a first for a collective of major companies for the nation.
Per Aju News, the group will comprise Hancom’s blockchain and industry...
South Korean Politicians Won’t Be Required to Disclose Their Crypto Holdings After Proposals Failed to Pass the National Assembly
6.1.2021
South Korean politicians won’t be required to disclose their crypto holdings or crypto-related earnings as no fewer than three cryptocurrency-related bills failed to pass the National Assembly. Proposal Submitted in November 2020 According to the Electronic Times, the bills aimed to require...
No Need for South Korean Lawmakers to Declare Crypto after Bill Fails
5.1.2021
South Korean politicians and senior public officials need not report their crypto holdings or cryptoasset-related earnings, a new report has claimed – and there are no plans to make them do so.
Per the Electronic Times, no fewer than three bills that would have seen cryptoassets granted property...
Production of $2.7 Million-per-Episode: South Korean Crypto-Related TV Drama Series Is Set to Start in 2021
31.12.2020
A major South Korean TV series with crypto and blockchain-related topics is set to launch its production stage at the beginning of 2021, directed by Gemstone Film, in collaboration with firms in China and the United States. South Korean Crypto-Related TV Drama Series ‘Pumping Time’...
Order Book Sharing Ban Could Shake South Korean Exchanges to the Core
30.12.2020
New government regulations that will force South Korean crypto exchanges to cease order book sharing with overseas trading platforms could have a seismic effect on the crypto players in the country - and the issue is reportedly the main reason why major player Binance is set to close down...
South Korean Crypto Exchanges Prepare for Order Book Sharing Shutdown
29.12.2020
Source: Adobe/Андрей К
A number of South Korean crypto exchanges are ceasing policies that see them share order books with overseas exchanges in preparation for the promulgation of a new crypto law that comes into force early next year.
As reported, a series of amendments to a financial law will...
Polish Crypto Miner Prepares Its Services For South Korean Gamers
24.12.2020
Source: Adobe/Pixel-Shot
After obtaining a license to operate in Malta, Polish company GamerHash is pursuing its international development plans, aiming to launch its token on one of the leading crypto exchanges in Asia, and establish operations in South Korea.
The firm’s expansion to Malta allowed...
South Korean Province to Create Youth Blockchain Jobs with New Fund
19.12.2020
Buddha statues at the Unjusa temple in Hwasun, South Jeolla Province. South Korea’s South Jeolla Province has announced plans to spend USD 14m on a job creation project that will see the region develop new roles in the industry 4.0 sector, blockchain including, for promising youngsters.
Per...
Korean Exchange Operator to Oversee Crypto-Linked Stocks in the Midst of Suspicions on Unfair Trading
12.12.2020
South Korean securities exchange operator is now expanding its overseeing capacity by monitoring all crypto-related stock activities after volatile movements seen in the last few weeks on listed companies tied to the industry. KRX’s Market Oversights Committee to Supervise Crypto-Linked...
South Korean Authorities Formally File Fraud Charges Against Coinbit’s Executives
8.12.2020
In South Korea, authorities have formally pressed fraud charges against the chairman of a major crypto exchange in the country, Coinbit, plus two unnamed executives of the firm. They are suspected of price manipulation. Coinbit’s Executives Formally Charged by South Korean Authorities...
South Korean Crypto Tax May Be Delayed after Parliamentary Intervention
25.11.2020
South Korean crypto investors could receive a welcome stay of execution from new crypto taxes – with parliamentarians pushing Seoul to postpone a much-maligned crypto tax reporting act.
Per the Dong-a Ilbo, a leading South Korean parliamentary committee has made a late intervention in the matter...
South Korean government to delay crypto-tax rules by three months
25.11.2020
Following lobbying by the Korean Blockchain Association, crypto exchanges are given extra time to implement a new tax infrastructure
Crypto-keen South Korean Travel Unicorn Sets Sights on 2021 IPO
20.11.2020
Source: A screenshot, Instagram/yanolja.official
Yanolja, one of South Korea’s biggest travel firms and fastest-growing, most crypto-keen unicorns, is heading for an initial public offering (IPO) next year.
Per Newsway, Yanolja, which operates its own digital token-powered rewards program,...
South Korean Government Has Plans to Nurture Blockchain Unicorns
19.11.2020
Source: Adobe/s_lena
A South Korean minister has talked about the government’s intention of fostering “blockchain unicorns” as part of its medium-term strategy to boost growth and mitigate the devastating effects the coronavirus pandemic is set to take on the nation’s small and medium-sized...
South Korean SME Minister Sings Praises of Blockchain-powered Payments
13.11.2020
A South Korean minister has been championing blockchain-powered payments, claiming they have the power to transform the business landscape for smaller businesses in the country.
Per News1, the comment came from the country’s Minister of Small and Medium Enterprises and Startups Park Young-sun,...
South Korean Crypto Firms Must Disclose Users’ Identities Under Planned Law Change
6.11.2020
South Korea's top financial watchdog wants legal changes making it mandatory for cryptocurrency firms to report the names of customers
‘Dozens’ of Arrests as South Korean Police Swoop on Bogus Ethereum Fund
5.11.2020
South Korean police have closed the net on an alleged ethereum (ETH) scam operation named EtherWallet, making “dozens” of arrests nationwide in suspected USD 44.5 million fraud wrap. Some 3,000 victims have been identified, the police said.
The Seoul Metropolitan Police Agency has been formally...
‘Arbitrary’ Ruling May ‘Force South Korean Crypto Exchanges to Close’
4.11.2020
South Korean crypto-related firms said they are concerned that banks are being given too much power by the country’s financial regulators.
In the latest regulatory rulings unveiled this week, regulators stated that banks would be obliged to decide whether or not they want to do business with crypto...