Ethereum Archives | Be Korea-savvy
Polygon Partners with Token||Traxx to Produce Multichain Music NFT Marketplace

Polygon Partners with Token||Traxx to Produce Multichain Music NFT Marketplace

London, UK, March 10 (Korea Bizwire) – Polygon, an Ethereum scaling platform onboarding millions to Web3, today announces a partnership with NFT music platform Token||Traxx™ ahead of its Token Generation Event (TGE) this month. The collaboration will allow Token||Traxx to leverage Polygon’s low-cost and interoperable infrastructure to build out its music NFT marketplace. Polygon Studios — the NFT [...]

S. Korea to Support ‘Normal Transactions’ of Cryptocurrencies

S. Korea to Support ‘Normal Transactions’ of Cryptocurrencies

SEOUL, Feb. 20 (Korea Bizwire) — South Korea’s financial regulator said Tuesday the government will support “normal transactions” of cryptocurrencies, about three weeks after it banned their trading through anonymous bank accounts. The remarks by Choe Heung-sik, governor of the Financial Supervisory Service, were seen as being in stark contrast to the government’s previous stance [...]

Banks to Issue New Trading Accounts for Cryptocurrencies Next Week

Banks to Issue New Trading Accounts for Cryptocurrencies Next Week

SEOUL, Jan. 23 (Korea Bizwire) — Six South Korean banks will begin issuing new trading accounts for cryptocurrencies next week by introducing a system that bans the use of anonymous accounts in cryptocurrency transactions, a senior financial regulator said Tuesday. When the banks introduce the system of verifying cryptocurrency investors’ identification next Tuesday, current virtual [...]

S. Korea’s 2M Cryptocurrency App Users Leaking to Foreign Exchanges

S. Korea’s 2M Cryptocurrency App Users Leaking to Foreign Exchanges

SEOUL, Jan. 16 (Korea Bizwire) — Despite South Korea’s seven-figure userbase for cryptocurrency apps, a relatively small surge in domestic users of Hong Kong service Binance in the past week has industry watchers wondering whether local investors, increasingly hemmed in by government regulations, will begin an exodus towards foreign exchanges. According to app research firm [...]

Banning Cryptocurrency Exchanges Needs More Consultations: Finance Minister

Banning Cryptocurrency Exchanges Needs More Consultations: Finance Minister

SEJONG, Jan. 12 (Korea Bizwire) — Finance Minister Kim Dong-yeon said Friday that relevant ministries need to hold more consultations over the justice ministry’s plan to ban cryptocurrency exchanges, but the government will continue to take actions against speculative investment in virtual coins. The remarks by Kim came a day after Justice Minister Park Sang-ki [...]

Online, South Korean Attitudes on Bitcoin More Negative than Positive

Online, South Korean Attitudes on Bitcoin More Negative than Positive

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 [...]

Prosecutors Bust Multimillion Dollar Cryptocurrency Scam

Prosecutors Bust Multimillion Dollar Cryptocurrency Scam

INCHEON, Dec. 20 (Korea Bizwire) — Prosecutors said Wednesday they have uncovered a multimillion-dollar fraud scheme by a cryptocurrency mining agency based here and in the United States that has incurred huge losses for investors around the world. The Incheon District Prosecutors’ Office indicted 21 suspects associated with U.S.-based Mining Max LLC on fraud and [...]

With Bitcoin Values Soaring, Wallet App Downloads Surge

With Bitcoin Values Soaring, Wallet App Downloads Surge

SEOUL, Dec. 18 (Korea Bizwire) – Wallet apps used to store cryptocurrency are rising in popularity in the wake of Bitcoin’s meteoric rise in valuation that has stirred up feverish interest among experienced and amateur investors alike. According to market research firm Sensor Tower, over 25 million smartphone users worldwide have downloaded a wallet app [...]