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A member of the South Korean parliament is leaving his party amid mounting allegations of massive crypto investments inconsistent with his frugal public image. The controversy, which has caught the attention of the Korean society, involves accusations of conflict of interest and other irregularities. Lawmaker Leaves South Korean Opposition Party Over
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Kim Nam-kuk, a member of South Korea’s National Assembly, reportedly liquidated more than $4 million worth of crypto prior to lawmakers in the country enforcing the Financial Action Task Force’s “Travel Rule”.According to a May 8 report from The Korea Times, authorities with the Korea Financial Intelligence Unit are investigating
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Rep. Kim Nam-kuk of the Democratic Party of Korea has allegedly withdrawn a massive 800,000 WEMIX tokens in the period between late February to early March 2022, just before the introduction of the global standard-setter FATF’s travel rule on March 25, 2022. In the latest development, South Korean authorities have
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ALSO: A crypto markets analyst suggests that the U.S. central bank may not be finished with interest rate hikes, even if it raises the rate on Wednesday as expected. Original Source
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Amidst the allegations against Do Kwon, the co-founder of Terraform Labs, a recent report by the Korean Sunday News has revealed that the Seoul Southern District Court has ruled in favor of LUNA, now renamed LUNC, by stating that it is not a financial investment product. Despite the recent enforcement
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The South Korean central bank is set to be granted the right to investigate virtual assets after the Financial Services Commission (FSC) dropped its opposition to the move. According to a report, the FSC dropped its opposition to the central bank’s bid after it was accused of seeking to make
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After Kwon was arrested, the prosecutors indicated that he had paid the law firm before the collapse. As the legal battle between Do Kwon and South Korean prosecutors continues, the prosecutors stated that the CEO of Terraform Labs Do Kwon transferred some money to a law firm before TerraUSD and
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On April 12, Yuga Labs' ERC-20 token ApeCoin (APE) briefly surged to $90.00 from around $4.20 apiece on the South Korean cryptocurrency exchange Upbit before most gains were wiped out in a sharp sell-off. However, the token is still trading at $10.90 apiece at the time of publication, representing a
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As the biggest provider of internet search services as well as app hosting-related services, Google is often in the crosshairs of anti-competitive investigations from regulators around the world. Google, the subsidiary of American multinational tech giant, Alphabet Inc (NASDAQ: GOOGL) has been fined by the South Korean Fair Trade Commission (KFTC)
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