cryptocurrency Archives | Be Korea-savvy
Mid-sized Crypto Exchanges Discontinue Korean Won Trading Pairs

Mid-sized Crypto Exchanges Discontinue Korean Won Trading Pairs

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 [...]

S. Korean Teens Not Immune to Cryptocurrency Investment Fever

S. Korean Teens Not Immune to Cryptocurrency Investment Fever

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 [...]

Tougher Regulations Cast Shadow over Crypto Markets in S. Korea

Tougher Regulations Cast Shadow over Crypto Markets in S. Korea

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 [...]

Foreign Crypto Exchanges Seek Distance from Korea Ahead of Tighter Regulations

Foreign Crypto Exchanges Seek Distance from Korea Ahead of Tighter Regulations

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, [...]

Bybit Brings Annual Trading Competition World Series of Trading (WSOT) 2021 to the Next Level with Record $7.5M Prize Pool

Bybit Brings Annual Trading Competition World Series of Trading (WSOT) 2021 to the Next Level with Record $7.5M Prize Pool

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 [...]

Cryptocurrency Exchanges Sustain Heavy Losses Despite Overall Growth of Fintech Industry

Cryptocurrency Exchanges Sustain Heavy Losses Despite Overall Growth of Fintech Industry

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 [...]

PolkaFoundry to List on AscendEX

PolkaFoundry to List on AscendEX

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 [...]

Regulator Steps Up Warnings on Overseas Cryptocurrency Exchanges Targeting Koreans

Regulator Steps Up Warnings on Overseas Cryptocurrency Exchanges Targeting Koreans

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 [...]

Employee at State-run Cultural Facility Caught Mining Cryptocurrency at Work

Employee at State-run Cultural Facility Caught Mining Cryptocurrency at Work

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 [...]