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South Korean Crypto Exchanges Ready Compliance Measures as Clock Ticks
19.3.2020
South Korea’s landmark Special Financial Transactions Information Act amendment was promulgated earlier this week, a fortnight after the country’s parliament voted unanimously in its favor.
Although many industry players have been galvanized by it, others have warned that its stipulations – which...
South Korean Government to Grant $3.2 Million to Blockchain Companies
17.3.2020
A state-based pilot program aims to provide funding to nine blockchain startups in South Korea
Is the South Korean Government Teaching Children How to Use Crypto?
16.3.2020
Source: iStock/recep-bg
A revamped learning resource platform aimed at boosting entrepreneurship in elementary and middle school pupils teaches children how to raise digital tokens in online crowdfunding incentives.
Per Yonhap, the platform, which went live on March 16, aims to nurture “young...
New South Korean Crypto Law May ‘Force 190 Exchanges to Close’
12.3.2020
While much of the South Korean crypto community is still celebrating the introduction of the country’s first-ever piece of crypto-specific legislation, others are warning that the overwhelming majority of crypto exchanges will likely go under once the new laws’ banking stipulations come into...
South Korean Gaming Giant Unveils Two Mobile Blockchain Games
9.3.2020
WeMade Tree, the blockchain arm of South Korean gaming giant WeMade, has announced that it will release two new major blockchain-powered mobile gaming titles.
Per Sports Kyunghan, the two titles will be named Bird Tornado for WEMIX and Aqua for WEMIX.
WEMIX is Wemade Tree’s new blockchain-powered...
South Korean Lawmakers Greenlight Strict Crypto AML Bill
5.3.2020
South Korean lawmakers voted to place tough new requirements on cryptocurrency exchanges, adding legitimacy to the country’s sprawling crypto economy – and potentially triggering a market consolidation
Breaking: South Korean Parliament Passes ‘Landmark’ Crypto Bill
5.3.2020
In a dramatic turnaround, the South Korean parliament, the National Assembly, has voted in favor of the country’s first cryptocurrency-specific legislation in the past few hours.
The amended Special Financial Transactions Information Act, which was approved by a National Assembly finance committee...
13,000 South Korean ATMs to Enable Litecoin Withdrawals
28.2.2020
Source: iStock/Ja'Crispy
Litecoin (LTC), the cryptocurrency created by Charlie Lee to be the “silver to Bitcoin’s gold” back in 2011, may be about to see more real-world use as more than 13,000 ATMs in South Korea enable LTC withdrawals directly to Korean won (KRW).
The Litecoin Foundation said...
Beyond the Law Star Steven Seagal Settles With SEC + More News
27.2.2020
Beyond the Law movie poster. Steven Seagal is in the middle.
Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Legal news
The U.S. Securities and Exchange Commission (SEC) settled...
‘Mass South Korean Crypto Closures’ to Follow if Legislation Delayed
27.2.2020
South Korean cryptocurrency industry insiders are warning that the country’s failure to introduce crypto laws could be cataclysmic, with “mass bankruptcies” likely.
As Cryptonews.com reported yesterday, the South Korean National Assembly’s schedule has been thrown into turmoil by an outbreak of...
South Korean Tax Policy Association Proposes Two-Step Tax on Cryptocurrencies
25.2.2020
Cryptocurrency is here to stay in South Korea as tax experts are looking into how to tax traders
South Korean Startup Contents Protocol Team Announces Closure
19.2.2020
Contents Protocol Team, a South Korea-based startup firm, has shocked the crypto community by announcing that it has decided to stop its operations in the country and shall be refunding the investors in the near future. The sudden announcement has taken the firm’s investors in a blow as the firm...
South Korean Banks ‘Sitting on Crypto Plans in Regulatory Limbo’
18.2.2020
South Korean financial institutions have formulated crypto business plans – but cannot go public with them due to a lack of regulatory clarity, claim bankers in the country.
News outlet Hangook Ilbo quotes an unnamed “senior official” at a South Korean bank as stating,
“Banks in South Korea cannot...
South Korean Bankers, Crypto-advocates Hope to Drive Crypto Tax Law
4.2.2020
South Korea is inching closer to crypto tax legislation after a gathering of bankers, politicians and blockchain industry officials appeared to reach a consensus at a meeting held at the country’s parliament in Seoul.
Per Jose Ilbo, the event was co-chaired by the Korea Blockchain Association,...
Politician to Form Blockchain-powered Party + More News
3.2.2020
National Assembly Building in Seoul. Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Blockchain news
Former presidential candidate, tech entrepreneur and leading South Korean...
China Worries Driving South Korean Central Bank to CBDC Research
3.2.2020
The South Korean central bank is launching a second central bank digital currency (CBDC) team – a year after disbanding its first group of CBDC researchers.
The central Bank of Korea (BOK) announced its intentions to launch the new unit, which it says will conduct CBDC-related research, in what...
New Law May Kill Smaller South Korean Crypto Exchanges + More News
28.1.2020
Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Exchanges news
Smaller South Korean exchanges could be forced to close if the government pushes ahead with plans to impose tighter...
South Korean Army to Use Blockchain-powered ID Solution + More News
22.1.2020
Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Cryptocurrency news
A South Korean blockchain authentication solution developed by a private company will be adopted by...
South Korean Bankers 'Fear' Starbucks Crypto Threat
21.1.2020
A report from South Korea claims that bankers in the country are concerned about the rise of an unexpected crypto threat – American coffee shop chain Starbucks.
Per the Korea Times, banking professionals have theories about the company’s digitization plans, and worry that they will fall behind when...
Bitcoin.com Partners With Mecon Cash, Enabling BCH to Korean Won Withdrawal at Over 13,000 ATMs Across South Korea
20.1.2020
Bitcoin Cash has been added to Mecon Cash’s M.Pay platform which is integrated with over 13,000 ATMs in South Korea. By making bitcoin cash usable for withdrawing won across the country, Mecon Cash is ensuring that BCH users in Korea can always make urgent and small transactions in any place...