SEOUL, Sept. 27 (Korea Bizwire) — The implosion of the TerraUSD and Luna cryptocurrencies, coupled with the stagnating economy, has resulted in the market for virtual assets shrinking significantly this year. The Financial Services Commission conducted a survey of 35 virtual asset businesses this year. The market cap was 23 trillion won (US$16.1 billion), down [...]
SEOUL, June 13 (Korea Bizwire) — The ruling People Power Party (PPP) is considering enacting a law on blockchain-based platforms to better regulate cryptocurrencies and protect investors, the party’s chief policymaker said Monday. “We are thinking of making a law on blockchain-based platforms,” Rep. Sung Il-jong of the PPP said during a party-government consultative meeting [...]
SEOUL, May 24 (Korea Bizwire) — South Korea will intensify global cooperation to better regulate the crypto asset market amid growing worries over excessive volatility demonstrated in the recent collapse of TerraUSD and Luna cryptocurrencies, a senior government official said Tuesday. The crash of TerraUSD, known as a “stablecoin,” and its sister coin Luna caused [...]
SEOUL, May 18 (Korea Bizwire) — The shocking implosion of the TerraUSD and Luna cryptocurrencies threw many young investors into a panic, some of them saying their entire assets were blown up or even leaving suicidal messages. In a crash starting a week earlier, the once bullish TerraUSD and sister coin Luna had lost almost [...]
SEOUL, May 16 (Korea Bizwire) — South Korean game companies with products featuring virtual coins and other blockchain functionalities remain on heightened alert over adverse effects from the recent collapse of the TerraUSD and Luna cryptocurrencies, industry officials said Monday. Cryptocurrencies operated by South Korean gaming companies for in-game purchases and trading have undergone volatile [...]
MIAMI, March 2 (Korea Bizwire) — With less than 30 days away, CryptoWorldCon (CWC), the event of blockchain technology and cryptocurrencies focused on cutting-edge schemes and trends in the blockchain market, will kick off Miami’s BitCoin Weekend April 1-2, 2022, held at one of Miami’s most prominent and renowned venues, the James L. Knight Center. This [...]
SEOUL, Dec. 30 (Korea Bizwire) — A ruling party lawmaker plans to accept political donations in cryptocurrencies, his office said Thursday, amid rising interest in virtual assets in the country. Rep. Lee Kwang-jae of the ruling Democratic Party is trying to get campaign contributions in virtual currencies and issue non-fungible tokens (NFTs) as a receipt [...]
SINGAPORE, Nov. 9 (Korea Bizwire) — Located in the UK, GiftChill recently revamped its website. As an international leader in the gift card industry, GiftChill offers a unique one-stop-shop experience for customers seeking to purchase gift cards online. Customers can now use the GiftChill website to browse hundreds of featured gift cards, check product reviews, and [...]
ST PETER PORT, Guernsey and NEW YORK, Sept. 21 (Korea Bizwire) — Global Telephony Company, Webtel.mobi, (“WM”) is about to recommence unrestricted Global Operations with a Global Digital Currency that it has been confidentially testing and refining since 2009. WM first developed its TUV Digital Currency as a fully functional dual-use product – a Global [...]
SEOUL, June 1 (Korea Bizwire) — Seoul police said Tuesday they have recently cracked down on more than 520 drug trafficking suspects on charges of distributing, selling or buying drugs over the dark web using cryptocurrencies. The Seoul Metropolitan Police Agency said 521 suspects — 49 distributors and sellers of smuggled drugs and 472 drug [...]