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Crypto Turmoil In South Korea: Exchanges Struggle To Survive
South-korea   |   26.08.19  |  

A research paper recently revealed that 97% of the crypto exchanges located inside the country are on the brink of collapsing and spiraling into bankruptcy Cryptocurrencies in South Korea are in a kind of dismay. A research paper recently revealed that 97% of the crypto exchanges located inside the country are on the brink of collapsing and spiraling into bankruptcy. The paper blames low trading volume for these indicators,...

South Korean Banks Have New Requirements For Crypto Exchanges Due To FATF Guidelines
South-korea   |   31.07.19  |  

Several cryptocurrency exchanges in South Korea have mentioned that they’re facing issues renewing their agreements with local banks due to a change of internal policies Several cryptocurrency exchanges in South Korea have mentioned that they’re facing issues renewing their agreements ...

Crypto Crimes Cost $2.28 Bln In South Korea
Crime   |   22.07.19  |  

The ministry claimed that 132 criminals and fraudsters associated with cryptocurrency had been indicted and detained during the specified period According to estimates by the Ministry of Justice of South Korea, crimes related to cryptocurrency caused financial damage in the amount of 2.69 trillion won (about $2.28 billion) in the period from July 2017 to June 2019, The Korea Herald reports . The ministry stated that 132 criminals and fraudsters ...

The New Solution By Kakao is Supposedly 15 Times Faster Than Ethereum
Innovations   |   10.07.19  |  

It is argued that as a result of fast processing, Kakao solution provides 300 transactions per second while Ethereum is capable of 20 Representatives of Kakao, a messaging application from South Korea, said that the newly launched blockchain-based network Klaytn is 15 times faster than Ethereum. This was reported at the press conference of Ground X, a subsidiary of Kakao, which is working with blockchains. It is argued that, as a result ...

South Korea’s Busan Wants a Local Cryptocurrency For Itself
Cryptocurrencies   |   03.07.19  |  

Busan, South Korea’s second largest city in terms of population is mulling over the decision to implement a local cryptocurrency in order to revive its economy According to a report from ETNews , Busan, South Korea’s second largest city in terms of population ...

Korean Won Becomes the Third Most Popular Fiat Ccurrency for Buying Bitcoin
Cryptocurrencies   |   28.05.19  |  

LocalBitcoins reports an increase in transactions from South Korea on their platform. Such activity apparently also occurs on other exchanges throughout whole May LocalBitcoins reports an increase in transactions from South Korea on the platform of the project; such activity apparently also occurs on other ...

HSBC Finally Tests Blockchain, Develops Voltron Platform
Innovations   |   13.03.19  |  

Global Bank invites South Korean banks to partner in terms of the development of the announced project in the near future HSBC joins the list of banks that develop and implement blockchain in order to optimize their services. In order to introduce and inspire the adoption ...

The Trend Goes On: The First South Korean Stablecoin Is Launched
Cryptocurrencies   |   31.01.19  |  

The beta testing of the coin was carried out on Airswap, the decentralized exchange platform. KRWb will be available to any user any user to an ERC-20 compatible service South Korean FinTech company BxB Inc has launched the first stablecoin secured by the Korean Won, as reported in the press release of the company. The beta testing of the coin was conducted on the Airswap decentralized platform before the tokens were ...

Komid Crypto Exchange Executives Received Prison Sentences For Fraud
Crime   |   21.01.19  |  

This is the first case of imprisonment for inflated trade volumes. Fraudsters created fake accounts and manipulated stock exchange trading Two managers of Komid, the South Korean cryptocurrency exchange, were sentenced to imprisonment for faking trading volumes, News Asia reports. Allegedly, they were using a trading bot to falsify orders in cryptocurrencies as well as in Korean won. Komid Exchange CEO Choi HYUNSUK ...

South Korea: Promoting A New Bill To Pass The FATF exam
Legislation   |   04.12.18  |  

South Korea is going to encourage digital asset trading. What provisions does the new Bill contain and why is the state interested in its acceptance A member of the Korean National Assembly’s Political Committee Kim SUN-DONG has developed and presented ...


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