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AML compliance mandatory for foreign crypto exchanges, says Korean regulator
13.7.2021
South Korea’s strict crypto regulatory oversight is now extending to overseas exchanges that offer cryptocurrency trading services denominated in the country’s currency
New Samsung service Paperless adds document disposal to enterprise blockchain
13.7.2021
Samsung SDS has launched a new cloud-based blockchain service called Paperless to address forgery and falsification problems in documents
South Korean Bank Woori Financial to Offer Crypto Custody Services
13.7.2021
Woori Financial Group, one of the biggest financial conglomerates in South Korea, will offer crypto custody services. The bank will develop a joint venture effort with Coinplug, a blockchain-based developing company. This conglomerate signals the third bank entering the market in the country, after...
Payments Provider Clear Junction Stops Processing Payments for Binance
12.7.2021
On Monday, the global payments solutions provider Clear Junction announced it ceased processing transactions for Binance. The move by Clear Junction was brought on by the Financial Conduct Authority’s (FCA) recent warning, according to a blog post written about the decision. Clear Junction...
South Korean internet giants bid for central bank digital currency pilot
12.7.2021
The Bank of Korea plans to select an operator to run a blockchain-based CBDC pilot next month that will test a digital won in various use cases
Tech Titans Kakao, Naver and SK in Battle to Test South Korean CBDC
12.7.2021
Some of South Korea’s biggest tech and telecommunications giants will duke it out for the right to pilot the central Bank of Korea (BOK)’s forthcoming digital won.
Per KBS and Chosun, the bidding process has become a “three-way battle” between the search engine and chat app operator Naver, the chat...
Woori becomes latest major Korean bank to announce crypto custody services
12.7.2021
An increasing number of leading South Korean banks are establishing joint ventures with minor ownership to enter the crypto custody market while complying with local regulations
Get Paid for Excrement: This Eco-Friendly Toilet Pays You in Digital Currency
11.7.2021
An eco-friendly toilet that pays people in digital currency for using it has been installed at a university in South Korea. The toilet is connected to a laboratory that uses excrement to produce biogas, which is used as a source of energy at the university. Get Paid in Digital Currency to Use...
Paraguayan lawmakers to present Bitcoin bill on July 14
10.7.2021
El Salvador’s decision to accept Bitcoin as legal tender in June appears to be influencing lawmakers across the region to begin exploring their own cryptocurrency strategy. Paraguay is next in line to introduce new crypto-focused legislation
‘Poopcoin’: Korean professor uses bio-waste to mine crypto
9.7.2021
Students in a South Korean college are earning crypto mined from the energy generated from their excrement
South Korean Customs Officers Close Net on ‘Kimchi Premium’ Offenders
9.7.2021
South Korean customs officials say they have intercepted and tracked down scores of illegal, undeclared “kimchi premium” traders and transactions that reaped profits worth around USD 4.38m.
Back in April, customs officials vowed to carry out a “crackdown” on kimchi premium traders – and now appear...
Korean investigation finds $1.48B in illegal overseas crypto transactions
8.7.2021
More than 30 people are facing fines and prosecution in South Korea for allegedly contravening the country’s ban on overseas crypto transactions
South Africa Regulator Wants Mirror Trading International to Pay Millions as Penalty For Contravening Financial Sector Law
8.7.2021
A South African regulator, the Financial Sector Conduct Authority (FSCA), has informed key figures behind Mirror Trading International (MTI) that it intends to impose a fine of $7 million against the now-defunct crypto investment company. Contravention of Financial Sector Law According to a July...
Argentine lawmaker introduces bill for workers to be paid in crypto
7.7.2021
The proposal may help Argentinians in the export business avoid heavy taxes from foreign currency payments
Korean Banks Elevate Cybersecurity to Deal With Crypto-Related Risks
7.7.2021
South Korean banks are taking steps to bring cybersecurity to a new level as they try to keep up with fintechs and address new threats arising from their interaction with the crypto space. A number of institutions are adopting unprecedented measures including the integration of blockchain...
Bithumb Hong Kong subsidiaries reportedly face civil suit from Thai partner
6.7.2021
A Thai firm claims that Bithumb’s Hong Kong subsidiaries caused them serious damage by unilaterally halting its business in Thailand
Coinbase Actively Building Crypto Hub in India, Looking to Hire ‘Hundreds’ of People
6.7.2021
The Nasdaq-listed cryptocurrency exchange Coinbase is actively building a cryptocurrency hub in India. The company says it has “ambitious plans” for the South Asian crypto hub and is looking to hire for many positions, including hundreds of engineers. Coinbase Has ‘Ambitious...
South Korean Politician: North Has Stolen USD 310M in Crypto Since 2019
6.7.2021
A senior South Korean opposition politician has claimed hackers from the North have raided South Korean crypto wallets to the tune of almost USD 310m over the past two years.
According to Chosun, Ha Tae-keung, the former head of the New Conservative Party and currently an MP for the main opposition...
South Korean Shinhan Bank joins Klaytn’s blockchain governance council
5.7.2021
Apart from participating in the co-governance process of Klaytn, Shinhan Bank will also be involved in the development of Klaytn-based digital services
8,000 BTC Belonging to Mirror Trading International Traced, Investors Urged to Lodge Claims
5.7.2021
A total of 8,000 bitcoins belonging to Mirror Trading International (MTI) have been traced while an additional 29,000 bitcoins could soon meet a similar fate. The traced coins, which are valued at over $280 million (4 billion rand), represent a potential breakthrough for beleaguered MTI investors....