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Major South Korean Bank BNK Busan Plans to Offer Banking Services to Domestic Crypto Exchanges
26.3.2021
The South Korean crypto frenzy among the banking industry remains on fire, as another major bank is treading waters to offer banking services for crypto exchanges. The BNK Busan Bank launched a program that consists of visiting competitors’ banks that already offer it. BNK Busan Is Visting...
Experts say new South Korean crypto rules will create a monopolized market
23.3.2021
Blockchain industry members claim that smaller-scale startups have struggled to forge partnerships with local banks in South Korea and are therefore unable to register under regulators' new requirements
Reported volume of top South Korean crypto exchanges surpasses that of the country's stock market
14.3.2021
The increase in volume came as the price of Bitcoin rose to a new all-time high of more than $61,000 Saturday
South Korean Crypto Transactions Command an Average of $7 Billion per Day on Domestic Exchanges
9.3.2021
An investigation unveiled a growing fever among crypto traders in South Korea, who actively transact cryptocurrencies every day. Local media outlets are returning to adopt the term “crypto fever” as the recent billion-dollar figures confirm such a trend. Figures Are Now Higher Than 2018...
User Data Issue Threatens to Blight New South Korean Crypto Regulation
5.3.2021
A South Korean regulator has warned of a wrinkle in forthcoming crypto exchange-governing – just days from its promulgation. At worst, the issue could leave sensitive data about customers compromised due to a legal problem.
As previously reported, a key amendment to the existing Act on...
Inspired by Tesla, South Korean Crypto Moms Take the Bitcoin Plunge
3.3.2021
While demographic studies have shown in the past that the average crypto investor is young and male, the picture in 2021 might be changing, a recent report has found, with Millenials being edged out by boomers and Generation Xers. At least that is the case in South Korea, where a new wave...
Door Opens for South Korean Crypto Exchanges Fearing Forced Closures
2.3.2021
Smaller South Korean exchanges may find a way to survive the promulgation of a new crypto act later this month that requires all trading platforms to abide by real-name banking procedures.
As previously reported, only the “big four” crypto exchanges – Upbit, Bithumb, Korbit, and Coinone – currently...
South Korean Crypto Exchanges Face New Hurdle as Legal Deadline Looms
20.2.2021
With just over a month left before South Korean financial regulators begin policing the activities of the nation’s crypto exchanges, a regulatory body has unveiled details of how it will request trading platforms to report suspicious transactions as part of what promises to become one of the most...
Bank Account Data May Indicate a Rise in South Korean Crypto Activity
19.2.2021
A new report has linked a spike in the creation of new bank accounts in South Korea to a rise in crypto trading – an indication that a large influx of new traders in the East Asian nation has taken up crypto in 2021.
In 2018, Seoul created a set of guidelines that requires crypto exchanges to keep...
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...
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...
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’...
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...
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 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
‘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...
South Korean Crypto Exchanges Search for ‘Seamless’ AML Solutions
19.9.2020
With just months to go before new legislation comes into force requiring all of South Korea’s crypto exchanges to implement strict anti-money laundering (AML) policies, the race is now on to adopt solutions ahead of time – and avoid falling foul of the law.
So which AML solutions are South Korean...
Major South Korean Crypto Exchange Raided by Police in Alleged $25.2M Fraud Case
3.9.2020
South Korean police raided the country’s largest cryptocurrency exchange, Bithumb on September 2 as part of an investigation of fraud allegedly committed by the organization’s main shareholder. With the recorded number of visitors to the platform touching 4.11 million between May...
Police Raid South Korean Crypto Exchange Bithumb - Reports
2.9.2020
Police in South Korea are reportdely searching the headquarters of Bithumb, the nation’s biggest crypto exchange per trading volume as part of an investigation into fraud and embezzlement.
Per Newsis and Seoul Shinmun, officers from the Seoul Metropolitan Police Agency’s Intelligence Unit raided...
US Democrats Want Info on Confiscated Crypto, Bakkt's Record + More News
26.8.2020
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Regulation news
US congressmen Josh Gottheimer and Emanuel Cleaver, both from the Democratic party, have requested the Trump administration...