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South Korea's central bank, the Bank of Korea (BOK), plans to organize a task force dedicated to central bank digital currency (CBDC) research in the new year.In its “Monetary Policy for 2020” brief, published on Dec. 27, BOK said it would continue to build on its existing research into
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South Korea’s biggest telecom company, KT, just announced the launch of a local blockchain-based currency for one of the country’s largest cities, which will reportedly go live on Dec. 30. Local news outlet dongA reported on Dec. 19:“Dongbaekjeon is a blockchain-based card-type local currency issued by Busan City to revitalize
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Seoul-based co-working space operator SparkPlus has partnered with blockchain funding platform Kasa Korea, according to a Dec. 17 report from The Investor.The partnership will aim to innovate the city’s sharing economy by means of a decentralized platform that reduces the barriers to entering the real estate market by promoting
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South Korea’s Ministry of Economy and Finance has declared that from next year, it will be introducing new measures to impose taxes on cryptocurrency holdings. This move comes after South Korea has already established a legal framework for crypto.According to new regulations by the South Korean government, the country will
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The South Korean-based firm Bloom Technology announced that they have created a new technology that is able to speed up transactions on the blockchain.On Dec. 3, United Press International reported that Bloom Technology’s CEO, Lee Sang-yoon, said that the company's Lotus Chain technology has been able to reduce blockchain
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South African Reserve Bank (Sarb) is planning on presenting new rules to curb illegal use of cryptocurrencies in activities such as money laundering.The cryptocurrency news came after Kuben Naidoo, Deputy Governor of Sarb, mentioned the plans while talking to reporters. The new rules, which have been under consideration for five
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The South African Reserve Bank (SARB) — the country’s central bank — is purportedly going to impose new regulations for the use of digital currencies in a bid to deter users from evading currency controls.As local business-focused publication Business Report reported on Dec. 2, SARB’s deputy governor, Kuben Naidoo,
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UPbit, South Korean cryptocurrency exchange, has recently posted a statement on its official website, confirming a cyberattack that resulted in the robbery of approximately $50 million in virtual assets. The statement was posted on 27th November, when UPbit informed users about the suspension of its services related to deposit and
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South Korea’s National Assembly’s policy committee passed a bill on Tuesday, adding new amendments to the Act on Reporting and Using Specified Financial Transaction Information that will create a groundwork for digital currencies by classifying them as virtual assets.One of Korea’s financial regulator, the Financial Services Commission (FSC), claims that
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