South Korea focuses on OTC crypto regulations as unlawful deals reach $4B
According to the Korea Customs Service report, the value of unlawful foreign exchange transactions made using digital currency was estimated to be worth $4 billion last year.
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South Korean Bitcoin Lender Delio to Sue Regulators (Report)
Delio, a South Korea-based Bitcoin lender, is reportedly planning to launch an administrative lawsuit against local financial regulators, citing poor and incorrect interpretation of the law. This new lawsuit comes…
Crypto Biz: Coinbase’s lending bet, a new ads policy at Google and Marathon’s mining performance
This week’s Crypto Biz explores Coinbase's lending platform, Marathon Digital’s latest Bitcoin mining report, Hana Bank’s move to offer crypto custody and Google’s new crypto ads policy.
Korean Financial Giant Taps BitGo for Digital Asset Custory Services
One of South Korea’s major financial institutions – Hana Bank – unveiled plans to introduce digital asset custody services starting. This announcement was made during Korea Blockchain Week in Seoul…
South Korean Hana Bank enters crypto custody business with BitGo
KEB Hana Bank and BitGo plan to launch a joint cryptocurrency custody venture in the second half of 2024.
South Korean parliament rejects motion to expel lawmaker over crypto scandal
South Korean lawmaker and Wemix investor Kim Nam-kuk will stay in the parliament after a 3:3 vote in the expulsion motion.
South Korean Crypto Exchanges Should Have Reserves of at Least $2.3 Million (Report)
The Korea Federation of Banks (KFB) reportedly intends to require domestic cryptocurrency exchanges to hold at least 3 billion won (around $2.26 million) as a reserve. The local authorities have…
Ripple (XRP) Attracts South Korea’s Young Investor Crowd: Report
Even as XRP encountered considerable upheaval due to escalating regulatory challenges, South Korean investors have remained unfazed. In fact, the asset has emerged as the most preferred one in their…
Naver Corp unveils South Korea’s answer to ChatGPT and generative AI
South Korean internet giant Naver Corp. has released CLOVA X, a Korean language chatbot similar to ChatGPT that can have conversations and summarize text.
South Korean city to seize crypto from thousands of tax evaders: Report
City authorities of Cheongju are looking to seize cryptocurrency from anyone who owes at least $750 in crypto taxes to the government.
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