South Korean Lawyers Lobby for Cryptocurrency, Investor Protection Laws

The Korean Bar Association has called on the government to establish a legal framework for the cryptocurrency and blockchain sector. In a news conference at...

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The Korean Bar Association has called on the government to establish a legal framework for the cryptocurrency and blockchain sector. In a news conference at the Korean parliament on Thursday, the Korean Bar Association publicly urged the government to develop laws designed to protect investors whilst encouraging the domestic blockchain industry. In quotes reported by Reuters,...

Korea is Pushing Positive Crypto Legislation: What Happens After it’s Passed?

The government of South Korea is hurrying the finalization of the country’s first crypto and blockchain legislation, to recognize the cryptocurrency and blockchain sector as...

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The government of South Korea is hurrying the finalization of the country’s first crypto and blockchain legislation, to recognize the cryptocurrency and blockchain sector as legitimate industries. What it Means For Crypto As CCN reported, local financial authorities initially disclosed their intent to regulate the cryptocurrency market with stricter but more comprehensive regulatory frameworks to...

South Korean Telecom Giant Launches Commercial Blockchain

According to The Korea Herald, a state-owned KT Corporation, South Korea’s largest telephone company, has announced the launch of its blockchain-based commercial network. Per Seo Young-il, the head...

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According to The Korea Herald, a state-owned KT Corporation, South Korea’s largest telephone company, has announced the launch of its blockchain-based commercial network. Per Seo Young-il, the head of Blockchain Center at the KT Institute of Convergence Technology, the blockchain project will initially have the capacity to handle 2,500 transactions per second (TPR), compared to Bitcoin’s (BTC) 3 TPS and...

Cryptocurrencies’ Status In Different Countries

Not only individuals but corporations look in the direction of cryptocurrencies in the whole world. Virtual money is both an investment and a currency. Bitcoin...

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Not only individuals but corporations look in the direction of cryptocurrencies in the whole world. Virtual money is both an investment and a currency. Bitcoin is a legal currency in Japan. The purchase can be made in 260.000 stores. Taxes on gains: 15-55 percent, based on the volume. Currently, gains made on virtual money, which are...

Korean Government Clarifies Position After Supreme Court Crypto Ruling

Korean Government’s Response South Korea’s top financial regulator, the Financial Services Commission (FSC), has responded to the ruling by the country’s Supreme Court recognizing cryptocurrencies...

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Korean Government’s Response South Korea’s top financial regulator, the Financial Services Commission (FSC), has responded to the ruling by the country’s Supreme Court recognizing cryptocurrencies including bitcoin as assets, according to local media. The Supreme Court ruled on Wednesday, May 30, that cryptocurrencies are assets that can be confiscated as criminal proceeds. The case involves a porn site...

Fud no more: south korea set to adopt g20’s unified cryptocurrency regulations

As the G20 works to create a set of “unified regulations” in regards to cryptocurrencies, the government of South Korea — the third largest cryptocurrency market...

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As the G20 works to create a set of “unified regulations” in regards to cryptocurrencies, the government of South Korea — the third largest cryptocurrency market in the world — reportedly plans on playing ball with whichever policies the international forum of governments and central bank governors put into place. ‘WE WILL STEP UP EFFORTS TO IMPROVE...

South Korea’s Top Financial Watchdog Joins Probe Into Cryptocurrency Exchanges

South Korea’s top financial regulator the Financial Services Commission (FSC) joined the ongoing probe into local cryptocurrency exchanges Sunday, May 13. The FSC will now be taking part in the...

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South Korea’s top financial regulator the Financial Services Commission (FSC) joined the ongoing probe into local cryptocurrency exchanges Sunday, May 13. The FSC will now be taking part in the anti money laundering investigation, hitherto led by the Financial Supervisory Service (FSS), in order to help expand its scope, news outlet Korea Timesreports. Commenting on the agency’s move, Vice Chairman of the...

Korea’s Financial Watchdog to Join Crypto Exchange UPbit Investigation

The Financial Supervisory Service (FSS) of South Korea has joined the investigation into the country’s largest cryptocurrency exchange UPbit. FSS will assist the Korean Financial...

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The Financial Supervisory Service (FSS) of South Korea has joined the investigation into the country’s largest cryptocurrency exchange UPbit. FSS will assist the Korean Financial Intelligence Unit (KIU) and Financial Services Commission (FSC) in evaluating the balance sheet of UPbit and existing regulations on cryptocurrency exchanges. Liquidity Issue Earlier this week, CNBC’s Ran Neuner reported...

South Korea’s Largest Crypto Exchange Upbit Under Investigation for Fraud

The largest cryptocurrency exchange in South Korea, Upbit, is suspected of fraud and is currently under investigation. The prosecutors have conducted searches at the exchange...

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The largest cryptocurrency exchange in South Korea, Upbit, is suspected of fraud and is currently under investigation. The prosecutors have conducted searches at the exchange and confiscated computers and accounting records. Upbit Under Investigation South Korea’s largest cryptocurrency exchange, the Kakao-backed Upbit is suspected of fraud, according to local media. While maintaining that customers’ assets...

South Korea Bill Pushes Legalization of New ICOs after 2017 Ban

A group of lawmakers led by a politician from Korea’s ruling political party is drafting a bill to legalize the launch of new cryptocurrencies and...

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A group of lawmakers led by a politician from Korea’s ruling political party is drafting a bill to legalize the launch of new cryptocurrencies and ICOs in the country. According to a report by The Korea Times, Rep. Hong Eui-rak of the Democratic Party of Korea, the political camp in power, is leading the charge –...