SEOUL, Dec. 21 (Korea Bizwire) — The cryptocurrency market, already reeling from a free-fall in the values of key digital currencies, was dealt another blow on Friday as officials at South Korea’s No. 1 cryptocurrency exchange were indicted for offering fraudulent transactions and swindling money from investors. The three officials at Upbit — a board [...]
SEOUL, March 5 (Korea Bizwire) — Online cryptocurrency services have come a long way since recording fewer than a million visitors per month early last year. Thanks to soaring valuations of bitcoin and other currencies starting in August, the once unheralded sector’s web traffic has surged since then, welcoming 5.09 million visitors in January according [...]
SEOUL, Jan. 22 (Korea Bizwire) — With cryptocurrency valuations having plummeted since reaching record highs only weeks ago, online communities for investors have degenerated from optimism and high spirits to, evidenced by uploaded photos of cracked monitors and ruined doors, bitterness and destructive behavior. Whether the damage wrought in these photos was truly caused by [...]
SEOUL, Jan. 22 (Korea Bizwire) — The government said Monday it will collect up to 24.2 percent of corporate and local income taxes from South Korea’s cryptocurrency exchanges this year. The Seoul government has been striving to rein in the virtual currency frenzy in Asia’s fourth-largest economy while contemplating a bill to ban cryptocurrency 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 [...]