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The suspected real owner of South Korea’s largest crypto exchange Bithumb has been arrested on alleged embezzlement charges on Feb. 2 local time.According to local media reports, Kang Jong-hyun was arrested on charges of alleged embezzlement. The Seoul Southern District Court issued an arrest warrant for the businessman on Jan.
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South African grocery retailer Pick n Pay is now accepting Bitcoin (BTC) in all of its 1,628 stores following a three-month pilot testing phase in 39 locations. As part of its nationwide rollout, store customers will be able to pay for items using cryptocurrency via smartphone apps or by scanning a
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The Ministry of Justice in South Korea announced plans to introduce a crypto tracking system to counter money laundering initiatives and recover funds linked to criminal activities.The ‘Virtual Currency Tracking System’ will be used to monitor transaction history, extract information related to transactions and check the source of funds before
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Prosecutors are investigating transactions related to a specific person or entity moving the price of the coin to make a profit, they said. They plan to examine transaction details at other exchanges where the coin is listed, according to the report. Source
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One promise on which President Yoon has been able to deliver, however, is the legalization of securities tokens, which are blockchain-based digital forms of traditional securities. On Jan. 19, FSC Chairman Kim Joo-Hyun announced that security token offerings (STO) had officially been legalized in South Korea. Source
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Bithumb CEO Kang Ji-Yeon and two other executives are facing charges of embezzlement, breach of trust, and conducting fraudulent illegal transactions.On Wednesday, January 25, a Korean news publication reported that South Korean prosecutors are seeking the arrest of the chairman and owner of crypto exchange Bithumb Kang Jong-Hyun.Kang along with
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Kang and two other executives – including his younger sister, Kang Ji-Yeon, the CEO of two publicly-traded Bithumb affiliates, Inbiogen and Bucket Studio – were charged by the Seoul Southern District Prosecutor’s Office with embezzlement, breach of trust, and fraudulent illegal transactions, according to local reports. Source
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Crypto asset service providers in South Africa seeking to attract investors via advertisements must “expressly and clearly state that investing in crypto assets may result in the loss of capital.” Influencers working on behalf of crypto asset service providers must “not offer advice on trading or investing in crypto assets
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South Africa’s Advertising Regulatory Board (ARB) has included a new clause for the cryptocurrency industry aimed at protecting consumers from unethical advertising.Companies and individuals in South Africa must abide by certain advertising standards pertaining to the provision of cryptocurrency products and services in a new clause introduced to Section III of
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