SEOUL, Sept. 17 (Korea Bizwire) — Medium-sized cryptocurrency exchanges in South Korea have discontinued trading pairs and payment services using the Korean currency as financial regulators are set to enforce tougher rules, according to market watchers Friday. By next Friday, both foreign and local cryptocurrency exchanges targeting Korean investors must register with the nation’s anti-money [...]
SEOUL, Aug. 31 (Korea Bizwire) — Cryptocurrency investment has surged in popularity among South Koreans from the latter half of last year, and teens were no exception, a lawmaker said Monday, citing data from four major cryptocurrency exchanges. The value of deposits made by teenage investors totaled 4 billion won (US$3.43 million) as of the [...]
SEOUL, Aug. 20 (Korea Bizwire) — Ko Kwang-nam invested 5 million won (US$4,251) in cryptocurrencies but lost about half of his holdings as the nation’s cryptocurrency markets showed signs of cooling down ahead of tougher regulations. As things stand, Ko, a 30-something office worker in Seoul, is likely to lose most of holdings because he [...]
SEOUL, Aug. 17 (Korea Bizwire) — Some foreign cryptocurrency exchanges have distanced themselves from South Korea as Korean authorities are set to enforce tighter regulations against virtual coins. By Sept. 24, cryptocurrency exchanges targeting Korean investors must register with the nation’s anti-money laundering body and disclose their details on risk management. Under the tougher regulations, [...]
SINGAPORE, Aug. 16 (Korea Bizwire) – The summer games of crypto trading are back. The 2021 edition of cryptocurrency exchange Bybit’s World Series of Trading (WSOT), set to open for registration on Aug. 18, promises to be the world’s largest crypto trading tournament yet again. The WSOT 2021 prize pool is up to an unprecedented 7.5 [...]
SEOUL, Aug. 13 (Korea Bizwire) — Despite the overall growth of South Korea’s fintech industry, including the market for wire transfers and payments, cryptocurrency exchanges have seen drastic cuts in revenue and operating profits. CEO Score, a business analysis agency, studied the performance of 186 fintech firms based on public reports from the last three [...]
Singapore, Aug. 9 (Korea Bizwire) – AscendEX, a global cryptocurrency financial platform with a comprehensive product suite, is excited to announce the listing of PolkaFoundry token (PKF) under the pair USDT/PKF on Aug 10 at 1 p.m. UTC. PolkaFoundry is a platform for building borderless and frictionless DeFi and NFT dapps on Polkadot. PolkaFoundry aims to [...]
SEOUL, July 22 (Korea Bizwire) — Foreign cryptocurrency exchanges targeting Korean people will face blocked access to their websites and criminal probes unless they register with South Korea’s anti-money laundering body, the nation’s top financial regulator said Thursday. By Sept. 24, all cryptocurrency exchanges using Korean currency must register with the Korea Financial Intelligence Unit [...]
INCHEON, June 25 (Korea Bizwire) — An increasing number of crimes involving the theft of graphics cards that jumped in price following the cryptocurrency boom have been reported to Korean police. Early this month, two men suspected to be in their teens or 20s removed the graphics cards from two computers set up at a [...]
SEOUL, June 9 (Korea Bizwire) — An employee of the Seoul Arts Center was caught mining cryptocurrency at work, the government-run cultural facility said Tuesday. It was discovered that one of center’s employees installed and operated cryptocurrency mining equipment in a basement room of the center’s Seoul Calligraphy Art Museum. After installing two ethereum miners [...]