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Major cryptocurrency exchange Binance is coming back to South Korea with a new acquisition of the local crypto trading platform Gopax.Binance has acquired a majority stake in the troubled crypto exchange Gopax, re-entering South Korea after exiting the market two years ago, Bloomberg reported on Feb. 3.The funding for the
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The acquisition sees Binance re-enter the South Korean market, having closed its affiliate there in December 2020 due to low usage. Source
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The latest price moves in bitcoin (BTC) and crypto markets in context for Feb. 3, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets. Original Source
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In addition to this arrest, South Korea’s National Tax Service had also opened a separate investigation into the possible tax evasion at Bithumb and its affiliates.On Thursday, February 2, Kang Jong-Hyun, the former chairman of South Korea-based crypto exchange Bithumb was arrested on charges of embezzlement, fraudulent illegal transactions, and
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The suspected real owner of South Korea’s largest crypto exchange Bithumb has been arrested on alleged embezzlement charges on Feb. 2 local time.According to local media reports, Kang Jong-hyun was arrested on charges of alleged embezzlement. The Seoul Southern District Court issued an arrest warrant for the businessman on Jan.
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The Ministry of Justice in South Korea announced plans to introduce a crypto tracking system to counter money laundering initiatives and recover funds linked to criminal activities.The ‘Virtual Currency Tracking System’ will be used to monitor transaction history, extract information related to transactions and check the source of funds before
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Hackers used a privacy protocol called RAILGUN to try to conceal their transactions.The Federal Bureau of Investigation (FBI) has concluded its investigations into last year’s crypto hack that saw US-based Harmony protocol, lose $100 million worth of crypto. According to the FBI, the investigation has revealed that the June attack
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South Korea’s financial regulator is developing new tools to regularly monitor crypto risks. The regulator warned that while the impact of the crypto market on the traditional financial system is still low, the risks posed by crypto to the country’s financial stability could increase sharply in the future. Korean Regulator Developing
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As part of a three-year effort to expand its public services, Metaverse Seoul will allow users to take their avatars to tax offices, access youth counseling and read e-books. Source
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