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Tag: South Korea

Korean Businesses Bypass ICO Ban by Issuing Tokens in Other Countries

Category: Altcoins, Finance, News, Regulation, Tech

Korean Businesses Bypass ICO Ban by Issuing Tokens in Other Countries

In September 2017, South Korea – one of the world’s most crypto-friendly nations – took a not-so-friendly decision; to ban all Korean ICOs. A bout of panic selling broke out, with multiple blockchain startups in Korea fearing the worst. However in 2018, native cryptocurrency companies have found a way that keeps investors, and the government, happy. If you have been…

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South Korea Introduces Stringent Crypto Mining Import Laws

Category: Altcoins, Bitcoin, Mining, News, Regulation

South Korea Introduces Stringent Crypto Mining Import Laws

In contrasting reports, South Korea cut down on the import of mining chips citing possible energy hazards for the economy; while Taiwan showed how the export of mining chips could be beneficial to the economy. The Korean Custom Services (KCS) has published a report on April 18 which placed mining hardware on a list of items which must meet strict…

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South Korean Cryptocurrency Exchanges on the Verge of Self Regulation

Category: Altcoins, Bitcoin, Business, Finance, News, Regulation

South Korean Cryptocurrency Exchanges on the Verge of Self Regulation

After months of heightened FUD in the entire crypto ecosystem, the market is gradually picking up speed as a vast array of nations has started creating proper regulatory frameworks for the blockchain-based digital assets industry. The Korean Blockchain Association, a reputable body in the South Korean cryptocurrency space, has proposed a self-regulatory system that would greatly ‘sanitize’ the virtual currency…

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Korbit Exchange Invites Litecoin to their Cryptocurrency Platform

Category: Altcoins, Business, Finance, News

Korbit Exchange Invites Litecoin to their Cryptocurrency Platform

One of the most established exchanges in South Korea, Korbit, has added support for an additional cryptocurrency, litecoin (LTC), known as the silver to bitcoin’s gold. Korbit has announced their introduction of litecoin on April 17, 2018, incentivizing their customers to trade litecoin by offering the top six traders prizes. Within the cryptocurrency market, Litecoin is one of the top…

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OmiseGo Partners with South Korea’s Largest Credit Card Company

Category: Altcoins, Blockchain, Business, Ethereum, Finance, News, Tech

OmiseGo Partners with South Korea’s Largest Credit Card Company

In a press release from April 5, 2018, Omise and OmiseGO (OMG) announced their signing of a Memorandum of Understanding (MoU) with ShinhanCard, a major South Korean credit card company. The deal is part of the company’s long-term plan, which sees itself at the center of a blockchain revolution in Asia. Moving Digital Value Globally Known better by its token…

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News of Embezzlement on South Korean Crypto Exchanges

Category: Altcoins, Bitcoin, Finance, News, Regulation

News of Embezzlement on South Korean Crypto Exchanges

In a jolt of bad news for cryptocurrency enthusiasts, several executives from South Korean digital exchanges have been detained for questioning regarding alleged embezzlement of users’ funds. Observers have commented that the allegations come at a particularly bad time for digital coin enthusiasts, with global regulators scrutinizing exchanges for compliance. Coinnest Implicated but Silent Lawmakers the world over are taking…

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Japanese Giant Line to Launch Blockchain Platform in South Korea

Category: Altcoins, Blockchain, Business, News, Tech

Japanese Giant Line to Launch Blockchain Platform in South Korea

Adding to the list of companies jumping on to blockchain based offerings is Line, a Japanese messaging platform. After announcing its support for cryptocurrencies a few months ago, the company is launching a blockchain subsidiary in South Korea. Companies Waking Up To Blockchain’s Potential Only a few months ago, Line announced its intentions to offer cryptocurrencies as a payment method…

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South Korean Exchanges Believe Regulations Are Required for Cryptocurrencies

Category: Altcoins, Bitcoin, Finance, News, Regulation

South Korean Exchanges Believe Regulations Are Required for Cryptocurrencies

Speaking at the Deconomy Conference 2018 on April 3 and 4, the heads of various South Korean cryptocurrency exchanges came together to discuss the rise of the “cryptoeconomy” in the country, and how they see it moving further keeping regarding regulations and other concerns. Crypto Market Amidst A Huge Correction In the words of Jun Haeng Lee: “It was a…

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The Largest Cryptocurrency Exchange, Binance, Is Facing Serious Regulatory Heat

Category: Altcoins, Business, Commentary, Finance, News, Regulation

The Largest Cryptocurrency Exchange, Binance, Is Facing Serious Regulatory Heat

At a time when crypto exchanges across the globe are facing regulatory hurdles, Changpeng Zhao, founder of Binance, faces the daunting task of steering Binance towards calmer waters. Taking the Crypto Show on the Road Based initially in China, the exchange had to move its business elsewhere after the government began stamping out all forms of cryptocurrency trading within the…

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South Korea Eyes Blockchain Technology for FinTech Plans

Category: Blockchain, Finance, News, Regulation

South Korea Eyes Blockchain Technology for FinTech Plans

The newest addition to the blockchain community craze is, unsurprisingly, the technologically advanced country of South Korea. The South Korean Financial Services Commission (FSC) has voiced plans to provide impetus to the use of blockchain technology in order to better safeguard user information in new payment systems. Korea has big dreams for its fintech industry, and the Financial Services Commission…

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