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In the meantime, Crypto.com will make efforts to earn a license to trade Korean won into virtual assets, such as partnering with a local bank for real-name accounts. “Earning approval to use real-name accounts for Korean won trading is not easy, especially for a global exchange to launch operatio...
Local crypto exchange operator Bithumb Korea is set to simplify its corporate governance, spinning off its non-exchange business in a move designed to accelerate its stock market debut planned for next year. Bithumb Korea will separate its holdings business under a new name, tentatively coined Bit...
South Korea was ranked eighth globally in terms of cryptocurrency profits last year, according to a report by blockchain data analytics firm Chainalysis on Sunday. Investors around the world saw a combined $37.6 billion in their crypto gains in 2023. The figure was a 76 percent plunge from a $159....
The price of bitcoin jumped to a new record in Korea on Monday, breaking through 100 million ($76,365) for the first time. Bitcoin, the world’s biggest cryptocurrency, traded at above 100 million won on the nation’s largest crypto exchange Upbit at 4:32 p.m., a surge since the price exceeded 98....
Cryptocurrency exchange operator Crypto.com hopes to expand its footing here by launching an exchange app for Korea in the first half of this year, said Eric Anziani, president and chief operating officer at the Singapore-based crypto trading platform. After more than 2 1/2 years of working to bui...
Bitcoin prices continued to fluctuate on Feb. 24 as authorities in and out of the country expressed concerns over the digital coin’s volatility. After plunging 22 percent from Feb. 21’s record high of 65.84 million won ($59,294) to 50.9 million won on Feb. 23, 2021, bitcoin prices stabilized a...
Upbit, South Korea’s largest cryptocurrency exchange by transaction volume, has frozen digital user accounts as it found digital assets worth 58 billion won ($49.2 million) have disappeared, its operator Dunamu said on Nov. 27. All cryptocurrencies in Upbit’s hot wallets -- digital wallets -- ha...
INCHEON -- Many humanitarian programs are underway in areas where war refugees are literally caught in the crossfire -- where infrastructure for a better quality of life often seems like a tall order. For the United Nations World Food Program, however, technology disruption has come into play in o...
INCHEON -- The head of South Korea’s major crypto asset exchange Upbit said on Sept. 4 that the country’s crypto exchanges are moving to implement a June guidance by Financial Action Task Force to curb the criminal use of their digital assets. “(Korea’s cryptocurrency exchanges) are at the nas...
INCHEON -- Blockchain is quietly becoming mainstream as a component that allows corporations to save costs in accumulating consumer data and create contents based on them. In sync with such trends, there are signs that legal uncertainties involving blockchain-powered virtual assets might be on the ...
Busan, South Korea’s second-most populous city, has been designated as a regulation-free zone for blockchain technologies, according to the Ministry of SMEs and Startups on July 24. The port city expects blockchain applications in tourism, finance, logistics and public safety with projects led by...
HONG KONG -- The RISE conference is reputed as one of Asia’s largest tech events with a focus on startups. For instance, one of the key speakers was Sophie Kim, founder of successful grocery platform Market Kurly. She talked about how she merged technology with grocery delivery. A number of startu...
The number of cryptocurrency exchanges in South Korea has risen amid a lack of regulations to prevent investors from trading virtual coins with opaque accounts, industry data showed on June 20. In May, the number of crypto exchanges stood at 205 in Korea, although the frenzied buying seen in Janua...
On May 27, the price of Bitcoin, the dominant cryptocurrency, spiked to over 10 million won ($8,450) for the first time in a year. Its price rose 9.2 percent from a day earlier to 10,447,000 won as of 10:35 a.m., according to cryptocurrency exchange Bithumb. This is the first time the largest digi...
Dunamu, operator of global cryptocurrency exchange Upbit, announced on May 15 that it have invested more than 55 billion won ($46 million) in 26 blockchain companies along with its investment subsidiary Dunamu & Partners since they announced a three-year plan to invest a total of 100 billion won in...
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