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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 [...]

Government Investigations Target Top Bitcoin Exchanges

Government Investigations Target Top Bitcoin Exchanges

SEOUL, Jan. 11 (Korea Bizwire) – In what could be the first domino to fall in a sweeping investigation into all things cryptocurrency, Coinone, one of the top three exchanges in the country, is currently the subject of a police investigation. With fellow exchange Bithumb also falling under the crosshairs of the National Tax Service, [...]

Cryptocurrency Investors in S. Korea Enter Unregulated Market at Their Own Peril

Cryptocurrency Investors in S. Korea Enter Unregulated Market at Their Own Peril

SEOUL, Dec. 21 (Korea Bizwire) – In the aftermath of the cyptocurrency exchange Youbit declaring bankruptcy, the lack of oversight and serious risks investors take in pursuit of profits are increasingly becoming the focus of conversation. Industry watchers said on December 20 that there are currently 20 cryptocurrency exchanges in operation, with 10 preparing to [...]