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Cryptocurrency Turnover in S. Korea Doubles over Past Month

Cryptocurrency Turnover in S. Korea Doubles over Past Month

SEOUL, April 16 (Korea Bizwire) – The cryptocurrency turnover in South Korea has more than doubled over the past month, a market tracker said Friday, as retail investors scramble to the virtual currency amid the fallout of the coronavirus pandemic. The combined turnover of 14 cryptocurrency exchanges in Asia’s fourth-largest economy came to US$21.63 billion [...]

Banks on Alert Following Surge in Foreign Transfers and Suspected Bitcoin Arbitrage

Banks on Alert Following Surge in Foreign Transfers and Suspected Bitcoin Arbitrage

SEOUL, April 15 (Korea Bizwire) — A recent surge in international cash transfers to gain profits from arbitrage between Bitcoin prices overseas and in South Korea, where the so-called ‘kimchi premium’ is added to boost the price of Bitcoin, has South Korean banks on alert. Ffive major banks — KB Kookmin, Shinhan, Hana, Woori and [...]

Market Value of Cryptocurrencies in S. Korea Spikes Tenfold over 3 Years

Market Value of Cryptocurrencies in S. Korea Spikes Tenfold over 3 Years

SEOUL, March 16 (Korea Bizwire) – The market value of cryptocurrencies in South Korea has shot up nearly 10 times over the past three years amid keen investor interest, industry sources said Tuesday. According to local cryptocurrency exchange Upbit, its market index stood at 9,742.62 points as of 5:45 p.m. Monday, almost 10 times the [...]

Daily Trading in Cryptocurrencies Skyrockets in S. Korea

Daily Trading in Cryptocurrencies Skyrockets in S. Korea

SEOUL, March 9 (Korea Bizwire) — The average daily transaction amount of cryptocurrencies is skyrocketing on the back of rising investment fever. The combined transaction amount of the nation’s four major cryptocurrency exchanges totaled 445 trillion won (US$389 billion) during the period from Jan. 1 to Feb. 25, far exceeding last year’s yearly total of [...]

Confiscated Bitcoins to be Incorporated into State Treasury

Confiscated Bitcoins to be Incorporated into State Treasury

SUWON, Jan. 8 (Korea Bizwire) — As the Bitcoin price continues to rise, bitcoin assets generated by criminal activities and later confiscated by the government will be incorporated into the state treasury after two years of waiting. Bitcoins confiscated by the prosecution following the country’s first supreme court decision permitting the confiscation of bitcoins in [...]

CryptoCurrency Mining Rigs with ROI in One Month Released

CryptoCurrency Mining Rigs with ROI in One Month Released

WELLINGTON, New Zealand, Sept. 17 (Korea Bizwire) — Lyre Miner and Harp Miner, two crypto mining rigs launched recently by www.BitHarp.com, have opened up excellent investment opportunities for all types of investors. Unlike most other similar products available in the market, these two mining rigs have been specially designed and configured to let the beginners [...]

OKEx Donates $4.5 Million to Foster Perpetual Swap Market

OKEx Donates $4.5 Million to Foster Perpetual Swap Market

VALLETTA, Malta, Jul. 24 (Korea Bizwire) — OKEx, a world-leading cryptocurrency exchange, has donated $4.5 million-worth of Bitcoin to its perpetual swap market insurance fund to foster customers’ confidence in trading cryptocurrencies. Last year, OKEx introduced perpetual swap trading along with the new risk management system which their customers widely benefited from. Since the adoption [...]