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Bithumb CEO Predicts Only Four to Seven South Korean Crypto Exchanges Will Survive New Rules
20.1.2021
The CEO of the South Korean cryptocurrency exchange Bithumb has made some predictions regarding the upcoming new rules governing the national industry. In fact, the executive believes there will only be between four and seven exchanges surviving the new regulation. Smaller Companies Unlikely...
South Korean Traders Offered First Fear-Greed Crypto Volatility Tool
19.1.2021
Source: Adobe/sergei_fish13
The South Korean crypto firm Dunamu, the operator of the market-leading Upbit trading platform, has launched a real-time digital assets “fear-greed” gauge that it claims will help crypto enthusiasts measure whether traders are spooked, clambering for profits –...
South Korean Carrier SKT Launches Blockchain-powered Certification App
19.1.2021
The South Korean mobile carrier SK Telecom (SKT) has announced the launch of a blockchain-powered ID and authentication certificates service.
According to Gvalley News, SK Telecom, part of the SK business conglomerate and one of the two biggest mobile carriers and internet providers in the nation...
CEO Sentenced to 18-Month Jail Term for Accepting Bitcoin Bribes to List a Cryptocurrency
15.1.2021
A South Korean court has sentenced the former CEO of the defunct crypto exchange Coinnest to 18 months in prison. The court also fined him over $61,000, who also was charged for fraud in 2020. Prosecutors Accused Coinnest Executives of Receiving 110 BTC in Bribes According to Fn News, the Supreme...
South Korean Banks ‘Play to Their Strengths’ with Bitcoin Custody Moves
12.1.2021
South Korean commercial banks are now in “fierce competition” with each other in the race to launch bitcoin (BTC) and other cryptoassets custody products that they believe will prove a lucrative market for them, per a new report.
According to media outlet Newsis, industry sources claim that...
South Korean gaming conglomerate Nexon denies plans to acquire Bithumb
11.1.2021
Reports last week had claimed that Nexon was poised to acquire the exchange at an evaluated price of roughly $460 million
Major South Korean Bank Shinhan Is Set to Offer Crypto Custody-Related Services
9.1.2021
A major commercial bank in South Korea is entering the crypto business by allocating an equity investment in the Korea Digital Asset Trust (KDAC). Shinhan Bank is looking to offer digital asset custody services. Bank Expects to Offer Tech Capabilities to Face Defi-Related Hacking Risks According...
South Korean Government to Start Taxing Crypto Trading Profits in 2022
8.1.2021
The South Korean government has issued an amendment to introduce tax on cryptocurrency trading profits. The plan is now a reality after several attempts to delay it by lawmakers. New Rules Impose 20% Tax on Crypto Profits Per Asia Today, the legislative notice details that the amendment will...
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...