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The government of South Sudan has reportedly prohibited U.S. dollar-based transactions and has directed that all local payments be settled in the local currency. The Salva Kiir Mayardit government reportedly said it also wants all signed commercial contracts to be based on the local currency. South Sudan’s Economic Meltdown As part of
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South Korea announced its first independent sanctions related to cryptocurrency thefts and cyberattacks against specific North Korean groups and individuals.According to Seoul’s Ministry of Foreign Affairs, four North Korean individuals and seven businesses have been placed on a blacklist for their alleged involvement in cyberattacks and cryptocurrency theft. The blacklisted
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The hunt for the controversial founder of the now-collapsed Terra ecosystem, Do Kwon, has intensified with South Korean officials reportedly confirming they sent at least two people to Serbia to track him down.According to a Feb. 7 Bloomberg report, the prosecutor’s office in Seoul said the reports “aren’t false” regarding
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The government of South Korea is very open to crypto as an asset class. In advancing its reach to provide the much-needed regulation of the nascent crypto ecosystem, South Korea has issued a new guideline bordering on security tokens. In a Press Release published on Monday, the Financial Services Commission (FSC)
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South Korea established guidance that specifies which types of digital assets will be considered and regulated as securities in the country.In a press release, the Financial Services Commission (FSC) highlighted that digital assets that fit the characteristics laid out in the country’s Capital Markets Act will be treated as securities.
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Pick n Pay, one of South Africa’s leading retailers, reportedly now accepts bitcoin as payment at all its stores across the country. Using the bitcoin lightning network, Pick n Pay’s customers can now buy items such as groceries, airtime and electricity tokens. Using BTC for Everyday Purchases Just a few months
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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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