Category: Bithumb

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20+ South Korean Cryptocurrency Exchanges Voluntarily Undergo Evaluations

Over twenty cryptocurrency exchanges in South Korea have agreed to undergo evaluations, including the country’s top four exchanges: Upbit, Bithumb, Coinone, and Korbit. This is part of their self-regulatory efforts, in conjunction with the Korean Blockchain Association. Also...

South Korea Supports ‘Normal’ Cryptocurrency Transactions

The director of the South Korean Financial Supervisory Service has announced that the government will support “normal” transactions of cryptocurrencies. Acknowledging that most crypto exchanges are having problems obtaining virtual accounts, he promises to encourage banks to work with them....

Revenues of Cryptocurrency Exchanges in South Korea Up 88-Fold

Revenues of Cryptocurrency Exchanges in South Korea Up 88-Fold

According to recent data collected by the South Korean government, the accumulated commission income of the country’s 30 cryptocurrency exchanges last year was 87.5 times that of the previous year. The vast increase in income and crypto transactions...

South Korea Considers Bitlicense-Style System for Cryptocurrency Exchanges

The South Korean government is considering introducing an approval system for cryptocurrency exchanges based on the Bitlicense model, developed by the New York State Department of Financial Services. Also read: Japan Cracks Down on Foreign ICO Agency Operating Without...

Most Crypto Traders in South Korea Remain Anonymous Despite Regulations

Most cryptocurrency investors in South Korea remain anonymous without moving their accounts to the government-mandated real-name system. So far, less than 10% of crypto traders have converted their virtual accounts into real-name ones. Also read: Japan’s DMM Bitcoin Exchange...

Intelligence: Pyongyang Trying to Steal Cryptos before Pyeongchang Olympics

Despite some cracks on the icy surface of inter-Korean relations, caused by the Olympic spirit, tensions on the silent crypto front in Korea remain high. South Korean intelligence has informed lawmakers in Seoul that the North keeps trying...

South Korean Court Rules Bitcoin Has Economic Value

A South Korean court has ruled that bitcoin has an economic value for the first time. This overturned an earlier court ruling which did not recognize the digital currency. The case involves the confiscation of 191 bitcoins. Also...

Here’s What The South Korean Regulations Mean For The Cryptocurrency Market

After much “will they or won’t they”, the South Korean government has finally implemented cryptocurrency trading regulations. What will that mean for the crypto market? Let’s find out. The big news in the cryptocurrency space today is that...

South Korea: Anonymous Trading Ban Leaves a ‘Million’ Users in Limbo

South Korea cryptocurrency exchanges are complaining of unfair treatment as the country’s ban on anonymous trading begins Tuesday. Banks Favor Big Names According to local news media outlet Business Korea, exchanges using corporate bank accounts may face sudden...

South Korea Ends Anonymous Cryptocurrency Trading Today

The new South Korean cryptocurrency account system has entered into force nationwide today, ending the current practice that allowed for anonymous trading of cryptocurrencies. Traders must open real-name accounts at the same banks as their exchanges in order...