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 [...]
SEOUL, Jan. 11 (Korea Bizwire) – South Korea’s justice ministry is drawing up legislation aimed to curb overheating in the virtual currency market, including a complete shutdown of all cryptocurrency exchanges in the country, its minister said Thursday. “The ministry is preparing legislation that basically bans any transactions based on a virtual currency through the [...]
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, [...]
Gibraltar, Jan. 10 (Korea Bizwire) — Olympus Labs is becoming an emerging leader in the cryptocurrency-based financial product space, and the team has been having a successful token sale supported by both institutions and the community. The team has designated OKEx to be the first official partner exchange to list Mount Olympus Tokens (MOT). OKEx [...]
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) — 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 [...]
SEOUL, Dec. 28 (Korea Bizwire) – South Korean Bitcoin investors have been left fuming after the government hinted at shutting down cryptocurrency exchanges, with some threatening to stage a guerrilla protest in Seoul. The government’s U-turn on cryptocurrency, which could see exchanges and accounts banned in the future, has taken many by surprise, with some [...]
SEOUL, Dec. 26 (Korea Bizwire) – A credit card points for Bitcoin swap service currently offered by KB Kookmin Card and Shinhan Card is on its last legs, as the respective firms have decided to shutter the service in January. KB Kookmin Card and Shinhan Card points can be redeemed for Bitcoins at cryptocurrency exchange [...]
SEOUL, Dec. 20 (Korea Bizwire) – The Fair Trade Commission launched on-site inspections of cryptocurrency exchanges Wednesday to see if they comply with consumer-related laws, the government said Wednesday. The three-day inspections follow up on an earlier package of steps aimed at curbing cryptocurrency speculation and crimes. The measures came a day after one such [...]