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Anti-ICO Chairman of South Korean Financial Regulator Resigns as Expected

Financial Services Commission (FSC) chairman Choi Jong-ku, a governmental official in South Korea who took a hard line on domestic Initial Coin Offerings (ICOs), has tendered his resignation. The Korea Times reported the chairman’s decision on July 18."I recently tendered my resignation to President Moon Jae-in to widen the

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Korean Crypto Platform ICON Launches Decentralized Passport Service

Korean crypto platform ICONLOOP has been busy despite the prolonged lull in altcoin activity. The latest development from the project is a blockchain-based self-sovereign identity authentication service.ICON Keeps Up Crypto InnovationMany crypto projects have fallen by the wayside as the prolonged altcoin winter keeps token prices on the floor. Some,

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Top South Korean Firms to Develop Blockchain-Based Mobile Authentication Services

Recently, South Korea’s leading telecom, banking, and conglomerate companies have come together to form the base for a new blockchain-based service for mobile authentication.South Korea’s multinational conglomerate Samsung, leading telecommunication companies and top banks have announced the partnership and that they are forming a consortium to build a new blockchain

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Major Korean Firms Partner to Launch Blockchain Mobile ID System

A consortium of major South Korean firms partnered to launch a blockchain-based mobile identification system in 2020, English-language local media Korea Times reports on July 14.Per the report, the participants are financial services firms KEB Hana Bank, Woori Bank, KOSCOM, mobile carriers SK Telecom, KT, LG UPlus, and technology

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South Korean Internet Giant Kakao Says its Blockchain Is 15x Faster than Ethereum’s

Kakao’s blockchain subsidiary Ground X has recently alleged that its blockchain platform takes only one-fifteenth of the time than that of Ethereum’s. If indeed true, it seems to be one of the biggest achievements a blockchain service provider could obtain.South Korean major internet company Kakao has raised $90 million through

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Korean Crypto Exchanges Face Backlash, Could it Stunt Bitcoin’s Run?

According to Business Korea, hundreds of minor crypto exchanges in South Korea could run smack into heightened scrutiny for failing to abide by proposed enhanced know-your-customer (KYC) regulations, which would require exchanges to only provide services to users with “real-name accounts” issued by local financial institutions. Earlier this month,

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Major Korean Crypto Exchange Bithumb Prosecuted for Failure to Protect User Data

South Korean crypto exchange Bithumb has been prosecuted for its alleged failure to take adequate measures to protect personal information, which was later presumably exploited by hackers to steal funds from the platform. The news was reported by Cointelegraph Japan on June 19.Prosecutors allege the data breach led directly

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5 South Korean Crypto Exchanges Take On New Responsibility for User Losses

Five cryptocurrency exchanges in South Korea have increased their liability to users in line with demands from regulators. Local English-language news outlet The Korea Herald reported the news on June 17, citing Yonhap News Agency.A year after the Fair Trade Commission requested Bithumb and four other platforms to adapt

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