Cryptonews Tags South Korea

# South Korea (Page 61)

Despite its relatively small size, South Korea is a global powerhouse when it comes to cryptocurrency industry. Often mentioned in the same breath as Singapore or Malta, Korean love for all things crypto has its roots in the country’s traditional inclination towards high technologies and openness to their use. Today, South Korea accounts for some 30% of total crypto trading on a global scale, with even the banking sector in that country making the news with its love for blockchain. South Korea is also well known for its highly developed cryptocurrency exchange scene including the likes of Bithumb, Upbit, Coinone and others.

Crypto Prosecutor Thwarted in Bid to Leave Post – and Join an Exchange

A high-flying South Korean prosecutor from the Ministry of Justice has been left out of work after controversy arose over his attempted move to take on a post as a legal adviser for a major domestic crypto exchange.Yonhap reported that the Ministry of Justice had announced that the prosecutor, whom...

Police: Suicide Linked to USD 180,000 Crypto Losses

A South Korean man aged in his twenties has committed suicide – and police claim that a crypto investment gone wrong likely drove him to take his own life.Police in Gangneung, Gangwon Province, said the man was found dead in the area on the afternoon of April 24. No suicide note was...

South Korea’s Ruling Party, Regulators at Odds over Crypto Policy

South Korea’s finance minister and Deputy Prime Minister has risked invoking young voters’ further ire with a crypto-related tirade – although it appears not everyone pulling the strings in the government is ready to sing from the same hymn sheet on this increasingly divisive...

Upbit Introduces Daily Limit on Deposits as ‘Self-Regulation Begins’

South Korean media outlets have suggested the nation’s crypto exchanges are beginning to “self-regulate” as pressure mounts from the government – with the Upbit trading platform capping crypto deposits to a daily maximum of just under USD 450,000.Per Donga Ilbo, one of the...

LUNA on the Rise as South Korean City Mulls Terra Stablecoin Proposal

Terra’s LUNA token is enjoying a rapid burst of growth, with prices up almost 9% on the past 24 hours – following news that the South Korean firm may be working on local stablecoin-related plans with the nation’s second city, Busan.At 09:05 UTC, LUNA, ranked 21st by market...

Young & Angry Voters Warn Politicians Over Crypto Crackdown

The South Korean government is facing the prospect of an embarrassing climbdown after a furious backlash from 20-39-year-olds in the country over its proposed crypto “crackdown.”The furor came to a head over the weekend, after a perfect storm of tumbling crypto prices and a strongly...

Banks Should ‘Say Thank You, Crypto’ after Bumper Boost in Customers

South Korean commercial banks should say “thank you, crypto,” local media outlets have claimed, with cryptoasset investors flocking to their platforms to set up fiat on/off ramps in order to trade their tokens.Per a report from SBS, the neobank K-Bank has seen a staggering 1.7m new...

Take My Fiat but Don’t Sell My Crypto, Plead Millionaires after Tax Bust

Seoul has become the latest South Korean city to launch an assault on crypto tax evaders, seizing cryptoassets from 1,566 individuals and 676 companies in the highest tax band – leaving scores of high-earning crypto buyers begging the city not to sell their tokens as they fear missing out on...

South Korean Crypto Grannies and Grandpas Shoot for the Moon

Is crypto exclusively a young person’s game? Not in South Korea, it seems, where – in addition to crypto moms, some of whom are not afraid to ask their children for trading tips, crypto grannies and grandpas are starting to get involved in the bitcoin (BTC) and altcoin markets.South...

South Korean Customs Officials Promise their Own ‘Crypto Crackdown’

South Korean customs authorities have added their voices to the choir of public officials promising to “clamp down” on illegal crypto transactions – particularly those involving overseas remittances and opportunistic traders seeking to take advantage of the kimchi premium.In a...

Samsung, Shinhan Card Workers ‘Quit Jobs after Making Crypto Fortunes’

The South Korean mainstream media has found a new subject du jour – crypto. And all of today’s major newspapers carried reports on crypto fever 2.0, a wave of investment that has seen bitcoin (BTC) and altcoin buying go through the roof, eclipsing even the situation in late 2017 and...

‘Intense Crackdown’ until End of June as Seoul Fights Crypto Fraudsters

A new joint South Korean police-government-regulator crackdown on crypto-related fraud and multi-level marketing (MLM) fraudsters will be complete “by the end of June,” authorities stated, as Seoul moves to stamp out bogus and illicit crypto operators.Per Seoul Kyungjae and the Segye...

Gamemaker Buys Stake in Coinone Exchange as Gambling Charges Dropped

The South Korean crypto exchange Coinone has been feting a double windfall – with a gaming giant snapping up a minority stake in the company and a legal boost leaving its CEO in the clear over gambling allegations.While three domestic gaming firms have been variously linked to deals to take...

Seoul to Target Kimchi Premium Crypto Sellers by Policing Int’l Remittances

The South Korean government is consulting on plans to regulate overseas remittances and banks with ties to crypto exchanges over concerns money is flowing abroad from the country in crypto purchases.Per Maeil Kyungjae, it appears that some South Korea-based investors are attempting to exploit the...

‘Alarm’ Rings as Crypto Trading Outpaces Stock Market in South Korea

South Korean crypto trading volumes have outperformed stock market activity for the first time in the nation’s history, with crypto trading gathering pace at a rate some find “alarming.”Media outlets such as Yonhap and Segye Ilbo, as well as Kyunghyang Shinmun reported that on...

More S Korean Exchange Customers in Nervous Hunt for their Crypto

The South Korean media is carrying more reports of crypto exchanges delaying their clients’ withdrawal requests – and in some cases failing to respond to the customers altogether as investors’ worries about the security of their funds intensify.As previously reported, crypto...

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