カテゴリー: korean

System Error at Korean Crypto Exchange Gave Users Free Coins

System Error at Korean Crypto Exchange Gave Users Free CoinsA South Korean cryptocurrency exchange said it suffered an internal system error which affected withdrawals. The exchange claimed that users were able to withdraw five times the number of coins they requested. It is asking for the coins back, and will seek civil liabilities and damages from users who do not voluntarily return the coins. […]

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$350 Million Bitstamp Acquisition Negotiations Denied by Nexon CEO

$350 Million Bitstamp Acquisition Negotiations Denied by Nexon CEOThe bitcoin exchange industry is widely considered to be in a process of transition, with big players stepping in and acquisitions leading to greater consolidation. As such it is not surprising to hear that Bitstamp is on the shelf, although a rumored buyer now denies it.   Also Read: Bitcoin in Brief Wednesday: Crypto Leakers, […]

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New Self-Regulatory Rules for Crypto Exchanges in South Korea Clarified

New Self-Regulatory Rules for Crypto Exchanges in South Korea ClarifiedThe majority of South Korean cryptocurrency exchanges are implementing new self-regulatory rules and performing self-inspection. The industry group in charge of leading the efforts has clarified the differences between the new and old self-regulatory rules for its 23 exchange members. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Promoting Safe […]

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Korean Customs Service Toughens Regulations on Importing Mining Chips

Korean Customs Service Increases Regulations on Importing Mining ChipsThe Korean Customs Service has added cryptocurrency mining hardware to its list of items required to meet safety requirements in order to be imported into the country. The announcement comes following a $1.2 million USD seizure of mining hardware in recent months, prompting concerns over the potential for poorly manufactured hardware to increase fire risks […]

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Korean Exchange Bithumb Has Reserves Worth $6 Billion in 12 Cryptocurrencies

Korean Exchange Bithumb Has Reserves Worth $6 Billion in 12 CryptocurrenciesOne of South Korea’s largest cryptocurrency exchanges, Bithumb, has published its first audit report, detailing its financial performance as well as crypto reserves worth approximately $6 billion kept in 12 cryptocurrencies. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space $6 Billion Worth of Coins South Korea’s second largest cryptocurrency exchange Bithumb recently released its […]

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Major Korean Exchange Launches in Indonesia with Six Cryptocurrencies

Major Korean Exchange Launches in Indonesia with Six CryptocurrenciesOne of South Korea’s top three cryptocurrency exchanges, Coinone, is launching an exchange in Indonesia. Initially, six cryptocurrencies will be supported but the exchange plans to add more coins. Coinone is also launching an airdrop event for 10,000 pre-registrants. Also read: South Korea Takes Steps To Regulate Digital Currencies Coinone Launching in Indonesia Coinone announced on […]

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Corporations Bypassing Korean ICO Regulations With Overseas Subsidiaries

Corporations Bypassing Korean ICO Regulations With Overseas SubsidiariesMajor corporations in South Korea are increasingly establishing cryptocurrency subsidiaries and launching initial coin offerings outside of the country due to prohibitive regulations. They are seeking opportunities in countries like Japan, Switzerland, Singapore, and Gibraltar. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Regulations Driving Away Businesses An increasing number of corporations in […]

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23 Cryptocurrency Exchanges in South Korea to Self-Regulate, 10 Opt-Out

23 Cryptocurrency Exchanges in South Korea to Self-Regulate, 10 Opt-OutThe need for cryptocurrency self-regulation in South Korea is rising as banks still refuse to issue new virtual accounts for most crypto exchanges. The Korean Blockchain Association is preparing self-regulatory standards. Thirty-three exchanges were asked to undergo a review; twenty-three agreed but ten refused, according to local media. Also read: Japan’s DMM Bitcoin Exchange Opens for […]

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Korean Crypto Exchange Launching Social Media P2P Payment System

Korean Crypto Exchange Launching Social Media P2P Payment SystemSouth Korean cryptocurrency exchange Bithumb is launching a P2P payment platform for social media including social networking sites and blogs. The exchange is also preparing to sell 12,500 kinds of mobile vouchers from 600 brands. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Social Media Crypto Payment System The second largest crypto […]

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Crypto Still Tax Free in Korea but Regulators Have Set Timeframe for Taxation

Cryptocurrency transactions are still tax-free in South Korea due to a lack of tax regulations. As the law stands, citizens are able to profit millions of won from cryptocurrencies without being required to pay taxes on them. However, the regulators have set a tentative timeframe for the introduction of the crypto tax law. Also read: Japan’s […]

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