South Korean Government Struggles to Find Balance in Legitimizing Cryptocurrencies

South Korea is well-recognized for being one of the early-adopter countries, with numerous established crypto exchanges, start-ups, and a significant amount of trading activity. The government's ambitions to impose capital gains taxes became apparent during the summer of 2019, when various articles were published regarding their desire to levy taxes from individuals and companies. Since 2017, cryptocurrency…

January 20, 20200Comments

ByZoran Spirkovski

News

South Korea May Soon Develop Its Own Digital Currency

Recent reports indicate that South Korea is actively considering the idea of releasing its very own digital currency, thus joining several other countries in this endeavor. As such, the Asian country is currently in the progress of setting up a task force, in charge of carrying out a thorough research of the opportunities and disadvantages…

January 10, 20200Comments

ByDaniel Dob

South Korean Lawmakers Urge Government to Improve Blockchain & Crypto Regulation

Because of high cryptocurrency usage and adoption rates, Asian countries like China, Japan, and South Korea, where few of the first to introduce regulations meant to control the growing industry. Digital currency enthusiasts in South Korea believe that the current regulations are bound to restrict the development of the crypto industry. Because of this, several…

April 16, 20190Comments

ByDaniel Dob

News

Curated blockchain and cryptocurrency news – Week 5’19

SWIFT has been too slow to implement blockchain, but it's better to be late than sorry, as seen by R3 partnership between the companies. QuadrigaCX founder passes away and the company loses access to cold wallets. South Korean conservative party to leverage blockchain for better party management. LocalBitcoins.com founder Michell Espinoza back on the bench…

February 7, 20190Comments

ByZoran Spirkovski

News

Curated blockchain and cryptocurrency news – Week 4’19

Cboe exchange withdraws VanEck-SolidX ETF proposal prematurely, IMF consulting Malta on how to continue and what to fix, South Korean exchanges joining hands to prevent scammer and hacker success, Maduro's gold stuck in the UK due to US sanctions (Kraken CEO has something to say about that), Kik messenger likely to bravely go to court…

January 30, 20190Comments

ByZoran Spirkovski

Technology

Bithumb to screen new cryptos with the help of its latest voting platform, yay or nay?

Bithumb happens to be the largest exchange in South Korea and in an attempt to make its listing procedure more decentralized, the company has launched Pickthumb. The aim of this new venture is to offer means of voting to the participants and allow them to file their opinion regarding the listing of any new project.…

December 19, 20180Comments

ByAzeem Saifi

Altcoins Bitcoin

South Korea Plans to Tax Crypto, Enforcement will be Difficult

South Korea is one of the world’s most active nations for cryptocurrency investment and adoption. Although the nation accounts for only one percent of the world’s population, it accounts for approximately thirty percent of trading. This activity has prompted understandable concern from the government, which has placed significant restrictions on crypto activity. Now, South Korean…

December 8, 20180Comments

ByTrevor Smith

News

South Korea’s Largest Telephone Firm Implements Blockchains

During the last couple of months, more and more companies have migrated towards exploring blockchain technology. Now, recent reports indicate that South Korea’s state-owned telephone giant KT Corporation is launching its very own blockchain-based commercial network. They have started to create a blockchain system on top of the national telecommunication network. The expected benefits include…

July 29, 20180Comments

ByDaniel Dob

News

Over $700 Million Stolen from Exchanges. Can We Prevent It?

As reported by CipherTrace, a blockchain security firm, an equivalent of around $730 million in cryptocurrencies was stolen off exchanges in the first quarter of 2018. This is incredibly huge and has raised concerns among an array of investors and potential users of different ventures, particularly because these figures seem to be growing every year.…

July 20, 20180Comments

ByAzeem Saifi

Markets

South Korean Crypto Exchange “Coinrail” Hacked for $40 mil

For what is the second time this year, the Asian crypto markets have been hurt by hackers. "Coinrail," a major crypto exchange in South Korea, and one of the top 100 crypto exchange companies in the world temporarily lost control over $40 mil worth of crypto. The hack which was said to have happened in…

June 18, 20180Comments

ByZoran Spirkovski