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UN Report: North Korea Stockpiles $316 Million in Cryptocurrencies From Cyberattacks
10.2.2021
A panel of experts at the United Nations says that North Korea has amassed $316 million in cryptocurrencies from various cyberattacks on crypto exchanges and financial institutions. The panel also investigated North Korea’s involvement in the $281 million hack of a crypto exchange. UN Expert...
South Korean Telecoms Giant KT Posts ‘Sevenfold’ Blockchain Profits
10.2.2021
The coronavirus pandemic has slowed down trade in a huge swathe of industries, but some, such as the telecommunications sector – appear to be thriving, with blockchain sales rising for KT, one of South Korea’s biggest mobile carriers.
Per Newsian, KT’s operating profits rose by 2% in the past...
South Korean Crypto Exchange Becomes the First Overseas Platform Legally Recognized in China
10.2.2021
A South Korean cryptocurrency exchange announced it established its first legally recognized branch in China. Although the nation banned all local crypto trading services, DBX said the firm already obtained a license to go ahead with the operations. Final Certificate of Incorporation Granted...
South Korean Central Bank: Build Legal Boundary Between CBDCs & Crypto
8.2.2021
Source: Adobe/Снежана Кудрявцева
The South Korean central bank – the Bank of Korea (BOK) – wants Seoul to draw a line between central bank digital currencies (CBDCs) and cryptoassets, and hopes the government will make an eleventh-hour adjustment to a key crypto law that promulgates next month.
The...
Former South Korean Social Media Giant to Relaunch Its Business by Creating a New Ethereum-Based Token
5.2.2021
A social media giant that significantly impacted South Korea’s internet influence in the early 2000s is set to take a second breath. The company plans to regain its popularity by launching a new cryptocurrency. New Ownership Reportedly Got Over $7 Million From Investors to Rebrand Cyworld...
A Hat Generates Big Controversy In Latest Sky: Children Of Light Update
5.2.2021
The latest update to thatgamecompany’s Sky: Children of Light introduced a new hat that has stirred up controversy among the game’s Chinese and Korean fans, with both sides claiming cultural significance related to the cosmetic item and refusing to give an inch on social media.Read more
South Korean Bank Shinhan Seals Crypto Custody Deal with BitGo
29.1.2021
The South Korean banking giant Shinhan is looking to take its fast-expanding crypto operations global – after striking a deal with American major crypto custody player BitGo.
Per EDaily, the deal pertains to crypto custody – a deal that also involves the South Korean crypto firm the Korea Digital...
South Korean Lawmaker Wants To Criminalize Crypto Market Manipulation
28.1.2021
A South Korean MP has announced the creation of a draft private members’ bill that seeks to criminalize crypto market manipulation.
Per News1, the measure is the brainchild of the opposition People Power Party MP Lee Ju-hwan, who has criticized architects of the existing legal framework for being...
South Korean Tax Agency Carries out Irregular Audit on Crypto Exchange Operator
26.1.2021
The team of investigators requested past data and transaction details from Korea Digital Exchange
High School Students Build A Back To The Future Monument
25.1.2021
Students at Tanabe Technical High School in Wakayama, Japan have been spending over four years making a DeLorean replica out of 2-millimeter-thick aluminum.Read more
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...
Bithumb Boss: Only 4-7 Korean Crypto Exchanges Will Survive Regulations
15.1.2021
The CEO of Bithumb Korea, the domestic wing of the South Korean market-leading crypto exchange Bithumb, has predicted that after soon-to-promulgate regulations kick in, there will only be between four and seven exchanges left standing.
There are currently almost 50 crypto trading platforms in...
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...