Cryptocurrency Analysis and News Portal
The deadline for South Korean crypto exchanges to meet new compliance requirements is looming fast, with all operators expected to submit requests for an official license with the Financial Services Commission (FSC) no later than Sept. 24.Industry actors and representatives for smaller exchanges have contested the new requirements for much of
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Leading cryptocurrency exchanges in South Korea have reached agreements with Korean banks to maintain the issuance of real-name accounts, media reports revealed. The deals, although not yet permanent, will allow the trading platforms to register with financial authorities before the Sept. 24 compliance deadline. Bithumb, Coinone and Korbit Maintain Partnerships
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One of South Korea’s leading blockchain evangelists is embarking on another huge blockchain fundraise following the success of his first.Simon Seojoon Kim is planning to raise $173 million for a second blockchain fund following the success of the initial one which netted $120 million from investors in December 2020. Specifics
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A major South Korean telecommunication company, KT Corp, has outlined plans to create a fully electronic documentation service, utilizing blockchain technology to contribute to environmentally conscious ambitions.The telecommunications firm currently provides around 90% of the nation’s fixed-line mobile networks, as well as a further 45% of broadband high-speed internet services.
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Red Date Technology, one of the four founding members of the Chinese Government-backed Blockchain Service Network (BSN), has announced Korean firm MetaverseSociety as the first BSN portal operator located outside of mainland China.Twitter account “BSNbase” broke the news on Sept. 1, announcing that MetaverseSociety expects to launch its BSN portal
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Crypto users between 30-39 years old in South Korea are reportedly the demographic with the most deposits on major exchanges in the country.According to a Sunday report from the Yonhap News Agency, South Korean residents in their 30s deposited roughly 2.2 trillion KRW — $1.9 billion at the time of
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Seung-beom Koh, a nominee for chairman of South Korea’s Financial Service Commission (FSC), does not regard cryptocurrencies as a financial asset. In a press meeting with local journalists, Seung-beom said that fintech experts from prominent organizations such as the G20, the International Monetary Fund and others “find it difficult to see
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Major South Korean cryptocurrency company Upbit has reportedly submitted a business report with the Korean Financial Intelligence Unit (FIU).Upbit reported its digital asset business to the FIU, which operates under South Korea’s top financial regulator, the Financial Services Commission (FSC). Upbit’s operator, Dunamu, announced the news on Friday, The Korea
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Kakao pushes its expansion plan to Singapore for Klaytn, its legacy blockchain platform, following its globalization quest. Reporting on Monday, The Korea Herald disclosed the city-state establishment of the Klaytn Foundation and Krust, the new blockchain-based entities by Kakao. Krust is a worldwide accelerator for the adoption of blockchain. On the
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