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 [...]
SEOUL, May 26 (Korea Bizwire) — Financial damage caused by cryptocurrency-related crimes has totaled more than 5.5 trillion won (US$4.9 billion) since 2017, a lawmaker said Wednesday, citing data from police. According to Rep. Yun Chang-hyun of the main opposition People Power Party, the National Police Agency (NPA) estimated the damage to be 467 billion [...]
SEOUL, May 9 (Korea Bizwire) — South Korea said Sunday it will strengthen its monitoring system against cryptocurrency-related phishing websites by working with the National Police Agency amid recent surges in prices of virtual money. The ICT ministry said there have recently been increasing reports of phishing attempts via text messages that lead cryptocurrency users [...]
SINGAPORE, May 4 (Korea Bizwire) - Cryptocurrency exchange Bybit will launch in May Bybit Cloud Mining, a mining-as-a-service (MaaS) product that gives users instant access to ether (ETH) mining from as little as $100. Democratizing and de-risking crypto mining The relentless growth of cryptocurrencies in recent months has caught mainstream attention and fueled a surge in [...]
SEOUL, May 3 (Korea Bizwire) — More than half of South Koreans support taxing capital gains from the trading of cryptocurrencies, a poll showed Monday. The government plans to impose taxes on gains from investment in virtual assets starting next year. A poll by Realmeter showed 53.7 percent of respondents back the plan while 38.3 [...]
SEOUL, April 27 (Korea Bizwire) – One of South Korea’s top financial officials has recently drawn the ire of investors in cryptocurrency when he lectured them, saying they were walking “on the wrong path” and needed to correct themselves. Appearing in a meeting at the National Assembly on Thursday, Financial Services Commission (FSC) Chairman Eun [...]