Bitcoin Archives | Be Korea-savvy
BnkToTheFuture Raises Initial $30 Million for Tokenized Securities Market and Due Diligence Platform

BnkToTheFuture Raises Initial $30 Million for Tokenized Securities Market and Due Diligence Platform

GEORGE TOWN, Cayman Islands, Jan. 17 (Korea Bizwire) — Financial technology investment platform BnkToTheFuture (www.bnktothefuture.com) has raised an initial $30 million for its tokenized equity market and due diligence platform within the first 24 hours of of its token pre-sale open solely to institutional investors and members of its platform. BnkToTheFuture offers the largest online [...]

S. Korea’s 2M Cryptocurrency App Users Leaking to Foreign Exchanges

S. Korea’s 2M Cryptocurrency App Users Leaking to Foreign Exchanges

SEOUL, Jan. 16 (Korea Bizwire) — Despite South Korea’s seven-figure userbase for cryptocurrency apps, a relatively small surge in domestic users of Hong Kong service Binance in the past week has industry watchers wondering whether local investors, increasingly hemmed in by government regulations, will begin an exodus towards foreign exchanges. According to app research firm [...]

Nearly 2 Million S. Koreans Estimated to Have Used Cryptocurrency Apps

Nearly 2 Million S. Koreans Estimated to Have Used Cryptocurrency Apps

SEOUL, Jan. 15 (Korea Bizwire) – Nearly 2 million South Koreans are estimated to have used cryptocurrency applications with their smartphone in the past week, data showed Monday. A total of 1.96 million people may have used apps that allow them to handle digital currencies, such as bitcoin and ethereum, last week, up from 140,000 [...]

South Korea’s Strict Cryptocurrency Regulations Could Hurt Blockchain Industry

South Korea’s Strict Cryptocurrency Regulations Could Hurt Blockchain Industry

SEOUL, Jan. 12 (Korea Bizwire) – The government’s move to regulate cryptocurrency trades could hurt the blockchain industry, experts have warned. According to industry sources on Friday, blockchain businesses are expressing concerns over the impact of cryptocurrency regulations, despite the government’s assurance that it would support the latest technology. “The growing number of cryptocurrency transactions [...]

Banning Cryptocurrency Exchanges Needs More Consultations: Finance Minister

Banning Cryptocurrency Exchanges Needs More Consultations: Finance Minister

SEJONG, Jan. 12 (Korea Bizwire) — Finance Minister Kim Dong-yeon said Friday that relevant ministries need to hold more consultations over the justice ministry’s plan to ban cryptocurrency exchanges, but the government will continue to take actions against speculative investment in virtual coins. The remarks by Kim came a day after Justice Minister Park Sang-ki [...]

FSS Head Under Fire for Anti-Cryptocurrency Stance

FSS Head Under Fire for Anti-Cryptocurrency Stance

SEOUL, Jan. 11 (Korea Bizwire) – The governor of the Financial Supervisory Service, Choi Heung-sik, is facing resignation calls from investors over his anti-cryptocurrency viewpoint. The FSS has found itself in hot water after threatening to ban all cryptocurrency transactions in South Korea, as frustrated protestors took to the official website of the presidential Blue House [...]

Viper Networks Announces Coming Launch of Blockchain and Crypto Mining Technologies Group Division

Viper Networks Announces Coming Launch of Blockchain and Crypto Mining Technologies Group Division

TROY, Mich., Jan. 11 (Korea Bizwire) — Viper Networks, Inc. (OTC Pink:VPER), (Company), an international leader in the LED lighting products & integrated systems markets, with a focus on Smart Cities, reported today that the Company is expanding into a strategic industry sector by creating a new division for their emerging Blockchain and Crypto Mining [...]

Regulators Inspect Virtual Bank Accounts for Corporate Customers over Cryptocurrency Worries

Regulators Inspect Virtual Bank Accounts for Corporate Customers over Cryptocurrency Worries

SEOUL, Jan. 10 (Korea Bizwire) — South Korea’s financial regulators have inspected banks that have opened virtual accounts for corporate customers amid concerns that such accounts could be exploited as a loophole to attract new investors for cryptocurrencies, an official said Wednesday. Regulators have banned banks from offering virtual accounts, which are needed to sell [...]

Bitcoin Rises in South Korea Despite Reports of Gov’t Intervention

Bitcoin Rises in South Korea Despite Reports of Gov’t Intervention

SEOUL, Jan. 9 (Korea Bizwire) – Bitcoin prices on South Korean exchanges have risen today despite hints at government regulation, and a drop in the value of the cryptocurrency in other markets. According to cryptocurrency exchange Bithumb, the price per bitcoin reached 24.7 million won as of 2:30 p.m. today, up 1.4 percent after financial [...]

No One Turns Up for Protest Against Government’s Cryptocurrency Regulations

No One Turns Up for Protest Against Government’s Cryptocurrency Regulations

SEOUL, Jan. 2 (Korea Bizwire) — A planned protest against the government’s cryptocurrency regulations failed to live up to the hype, with no one turning up at Gwanghwamun Plaza over the weekend. Despite an online post last week urging bitcoin investors to join a protest against the current administration’s anti-cryptocurrency stance, no sign of protest [...]