Cryptocurrency Analysis and News Portal
The South Korean government’s top financial regulator warned Thursday that foreign cryptocurrency exchanges that target Koreans would risk banned access to their websites as well as criminal investigations unless they register with the country’s anti-money laundering authority. As per a new regulation aimed at preventing money laundering, all cryptocurrency exchanges
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Entertainment and nonfungible token marketplace TriumphX has signed a memorandum of understanding (MOU) with fast-food giant KFC in South Korea.The agreement will focus on joint blockchain research with the aim of integrating NFT technologies and enhancing the branding of the fried chicken outlet.According to reports in local media, KFC Korea
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The South Korean government announced today that crypto exchanges will face punishment if they have not voluntarily registered with the country’s authorities by September 24.This new set of regulations will reportedly affect both exchanges based in South Korea and foreign exchanges that operate in Korean markets. According to the release,
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The Blockchain Research Institute (BRI) has revealed plans to expand into several continents mid-year through partnerships with several banks, foundations, and organizations.The independent global think-tank for distributed ledger research already operates in Europe and Brazil, and will establish hubs of innovation and research in new regional centers. The goal is
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Bitcoin (BTC) was trading at $5,000 higher in South Korea than in other markets on Wednesday as capital flow controls continue to enforce the “kimchi premium.” While Bitcoin was trading at $39,932 on Coinbase at the time of publication, the price on the Korea-based Bithumb exchange stood at $45,115.According to
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Amid the growing opposition against the new cryptocurrency tax regime in South Korea, finance minister Hong Nam-ki confirmed that the government will start taxing capital gains from crypto trading starting next year.“It’s inevitable, we will need to impose taxes on gains from trading of virtual assets,” the minister said when asked
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Quick take:The Bitcoin Korea Premium Index has just hit a one-year high of 11.97$%Also known as Kimchi Premium, it tracks Bitcoin’s value on S. Korean exchanges relative to othersThe index is known to sometimes foreshadow a major Bitcoin price moveBitcoin conquering $60k will open the doors to $64k and beyondThe
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U.N. experts estimate that over $316 million in crypto was stolen by North Korea-linked hackers last year. Source
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South Korean retail investors pointed to the U.S. GameStop saga to pressure local regulators to extend the country’s ban on short-selling stocks. They succeeded, at least for now. Then, GameStop happened. In January, retail investors in the U.S. banded together on Reddit to bet in favor of stocks (like that of American
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Virgil Griffith’s motion to dismiss the charges against him claiming that he violated U.S. sanctions law in North Korea was denied late Friday by a judge in the Southern District of New York (SDNY).U.S. Judge Kevin Castel denied the motion, leaving it up to a jury to decide whether Griffith
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