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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
SEOUL, Jan. 2 (Korea Bizwire) — The South Korean government has been developing a system that is likely to start banning the use of anonymous accounts in cryptocurrency transactions from around Jan. 20, financial industry sources said Tuesday. The system is a part of follow-up measures after the government announced last week a set of [...]
SEOUL, Dec. 29 (Korea Bizwire) – For better or worse, cryptocurrency has become a subject of intense interest this year, as skyrocketing valuations – of Bitcoin in particular – had amateur and experienced investors alike salivating, while the government grew increasingly uneasy over the effect the bull market was having on society at large. Most [...]