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Australia, Singapore, Malaysia and South Africa launch joint CBDC pilot
2.9.2021
The joint initiative will prototype shared DLT platforms enabling institutions to settle cross-border transactions using central bank-issued digital currencies
Crypto does not qualify as currency, says South Africa's central bank governor
31.8.2021
South Africa’s top banker has said crypto are more akin to assets than actual currencies
Think Tank Tells South Korean Banks: Start Offering Crypto Custody Services
31.8.2021
A research paper from an influential South Korean think-tank has recommended that banks enter the crypto custody and blockchain-as-a-service (BaaS) spaces to end their reliance on interest-based income sources.
Per the news agency Yonhap, Lee Soon-ho, a senior researcher from the Seoul-based Korea...
Chinese Kids Have Their Online Gaming Time Slashed By New Government Rules
31.8.2021
A new rule being introduced by the The National Press and Publication Administration (NPPA), China’s online watchdog, is looking to curb what the government feels is a growing “gaming addiction among young people”.Read more
30-somethings led crypto purchases at South Korean exchanges in 2021
30.8.2021
The increased trading volume comes following the country's Financial Services Commission requiring crypto trading platforms to register as digital asset service providers before Sept. 24
South African Central Bank Governor Reiterates: ‘Crypto Is Not Currency’
30.8.2021
The governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has reiterated the central bank’s longstanding belief that cryptocurrencies like bitcoin are not currencies. According to Kganyago, crypto-assets, as he prefers to call them, are not currencies because they fail to meet...
South Korean Regulator Creates New Crypto Exchange Policing Unit
28.8.2021
The South Korean financial regulator is set to appoint a number of new crypto officials, and forms a new crypto department. But its probable new chief has reiterated assertions that there will be no stay of execution for scores of crypto exchanges that could be forced to close as a result of...
Korea’s FSC Chairman Nominee Skeptical Over Cryptocurrency as Financial Asset
26.8.2021
A former central bank official, nominated to head South Korea’s financial watchdog, has expressed skepticism about recognizing cryptocurrency as a financial asset. In comments to a parliamentary committee, Koh Seung-beom has confirmed his views on the matter align with those of international...
24 Crypto Exchanges to Close in South Korea – and 18 More Could Follow
26.8.2021
Only a third of South Korean crypto exchanges have met the “minimum requirements” to register with the financial regulator ahead of next month’s deadline – with 24 already all but confirming they will close. But political pressure is mounting on the regulator, with a growing group of MPs pushing...
South Korea Abolishing Controversial Gaming Shutdown Law
25.8.2021
After ten years, South Korea is banning its “shutdown law” that banned children under the age of sixteen years old from playing video games for a six-hour block after midnight.Read more
Korean FSC chair nominee doesn't think crypto is a financial asset
25.8.2021
Seung-beom Koh said that fintech experts across the globe “find it difficult to see virtual currencies as a financial asset."
A Crypto ‘Coin Run’ Could Be Brewing in South Korea
24.8.2021
A leading South Korean media outlet and industry experts have warned that a “coin run” could take place next month as the likelihood of a mass of crypto exchange closures increases.
In a video report, the national broadcaster KBS reported that a glut of crypto liquidations could be on the cards...
South Korean CBDC Pilot is Now Underway and Samsung is Onboard
24.8.2021
The South Korean central bank, the Bank of Korea (BOK), has officially begun testing its prototype of digital KRW.
The bank has decided to carry out a two-stage central bank digital currency (CBDC) pilot, with the first stage running from this week until June next year, tasked with testing focus...
Upbit reportedly first crypto exchange to file with Korean regulators
23.8.2021
Upbit is one of South Korea’s largest cryptocurrency exchanges alongside Bithumb, Coinone and Korbit — who are collectively referred to as “The Big Four.”
Upbit is First South Korean Exchange to Apply for Operating Permit
23.8.2021
Upbit has become the first South Korean crypto exchange to officially apply for an operating license – with the nation’s financial regulator confident that “at least one or two” others will follow suit before the end of this month.
The move is a major statement from the crypto sector, which...
South Korean Crypto Exchanges Plead for 6 Months of Regulatory Mercy
21.8.2021
Source: AdobeStock / Chee-Onn Leong
South Korean blockchain organizations have told regulators that it will be impossible for the nation’s crypto exchanges to meet a September 24 registration deadline and want six more months to prepare – although it looks like their pleas may have fallen on deaf...
Young South African Engineer Rues Deleting Computer File Containing Keys to 20 BTC
18.8.2021
A young South African electronics engineer has rued his decision to delete a text document containing the keys and password to a crypto wallet that held some 20 bitcoins. According to the engineer, the lost coins had been mined more than ten years ago using a modified personal computer that...
Crypto Exchange Bitfront Said to End Korean Services Ahead of Tough New Regulations
18.8.2021
U.S.-based crypto trading platform Bitfront is going to discontinue services in South Korea before stricter rules for the industry are enforced in September, Korean media reported. The exchange, a subsidiary of Japanese tech giant Line, is currently available to Korean traders. Line’s...
All of South Korea’s Crypto Exchanges Fail their Regulatory Audits
17.8.2021
South Korean crypto exchanges have been dealt another crushing blow – with all of the nation’s trading platforms failing their regulatory “consulting” audits.
The development will not bode well for the sector with just over a month to go until new regulations kick in – with even the “big four”...
Korean internet giant Kakao expands blockchain presence to Singapore
16.8.2021
Kakao wants to keep up with the enterprise blockchain competition in Asia as it eyes expansion to Singapore