Cryptocurrency Analysis and News Portal
In 2022, the citizens of South Korea transacted $4.3 billion (5.6 trillion Korean won) through 'illegal' crypto exchanges, according to local sources. The country’s government has been especially attentive toward such money movement amid the tightening regime of licensing. On March 7, the local media published the numbers the Korea Customs
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Legislation has been introduced in the American state of South Dakota to amend the Uniform Commercial Code (UCC) to limit the definition of money to exclude cryptocurrencies. Central bank digital currencies (CBDC) would still be considered money under the proposed new definition. The 117-page amendment, introduced into the state house of
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In a note to executives and employees at the time of his retirement, Lee also talked about the necessity of blockchain technology. According to some recent reports, Binance is collaborating with Lee Woong-Yeol, the honorary chairman of Kolon, for a new virtual asset exchange in South Korea. According to sources, Lee
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In a move seen as a major setback for South Africa, the international financial watchdog, the Financial Action Task Force, announced on Feb. 24 that it had added the country to its “grey list.” Getting grey-listed by the financial watchdog potentially makes it difficult for South Africa to obtain loans
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Using a solution that is based on blockchain technology, the South African startup Momint has said the recently launched Suncash initiative aims to ease the country’s power generation challenges. For about $9, investors can reportedly buy non-fungible tokens (NFTs) linked to solar cells which are then leased to institutions such
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South Korea’s "Kimchi premium" has flipped to a discount again, meaning cryptocurrencies such as Bitcoin are now cheaper to buy on South Korean exchanges.The phenomenon is named after the Korean dish kimchi. The Kimchi premium refers to when the price of Bitcoin (BTC) trades higher on South Korean exchanges than
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South Korea’s second-largest city, Busan, is making efforts to become a crypto hub. Busan has been designated by the Korean government as a “super-aged” city, and its officials believe that crypto could help turn things around by attracting young people, tech startups, and investors. South Korean City Wants to Become a
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Rightfulshare, an income equality advocacy movement, recently said it has launched what it describes as the “first unconditional” crypto universal basic income (UBI) transfer. According to Karen Jooste, the crypto UBI not only expands the possibilities for unemployed South Africans but also nurtures their entrepreneurial spirit. Fairer Income Access Rightfulshare, a movement
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As reported by a local publication on Feb. 15, Korean financial authorities are looking into the staking services market. However, as the unnamed official specified to the journalists:The fears of the crypto community about the possible repercussions of the recent court deal between the United States Securities and Exchange Commission
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“South Korea's approach of tying the scope of security token offerings back to the definition of securities is broadly aligned with other regulators such as Singapore and Hong Kong,” said Angela Ang, senior policy adviser at blockchain intelligence firm TRM Labs and a former regulator at the Monetary Authority of
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