KoreaTimes - Cryptocurrency

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The Korea Times

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Cryptocurrency

Mon, December 11, 2023 | 08:40

Montenegro court agrees to release founder of Terraform Labs on bail

Montenegro court agrees to release founder of Terraform Labs on bail

A court in Montenegro agreed to release Terraform Labs founder Do Kwon from jail Friday along with another Korean citizen who also is charged with using forged identification documents in the Balkan country.

2023-05-12 21:44

Assembly ready to pass crypto regulation bill amid growing irregularities

Assembly ready to pass crypto regulation bill amid growing irregularities

Amid a growing scandal surrounding a main opposition lawmaker's coin speculation, the Assembly's National Policy Committee greenlighted a cryptocurrency regulation bill on Thursday. It was the first time ever that a bill stipulating regulations on cryptocurrency was passed by a National Assembly committee.

Anna J. Park | 2023-05-12 15:29

Terraform co-founder pleads not guilty, seeks bail in Montenegro

Terraform co-founder pleads not guilty, seeks bail in Montenegro

Do Kwon, a cryptocurrency firm founder who has been detained in Montenegro after being on the run over alleged massive fraud in South Korea, has applied for bail, according to local court officials Thursday.

2023-05-12 08:05

Deficit widens for banks' crypto custody business on market slowdown

Deficit widens for banks' crypto custody business on market slowdown

Four major lenders ― KB, Shinhan, Woori and NongHyup ― are experiencing widening losses in their investments in crypto custody business operators, hit by the market's abrupt slump over the past two years, data showed Thursday.

Lee Min-hyung | 2023-05-11 16:02

Scandal-tainted lawmaker faces criticism for crypto profits from legal blind spot

Scandal-tainted lawmaker faces criticism for crypto profits from legal blind spot

Rep. Kim Nam-kuk of the main opposition Democratic Party of Korea (DPK) is being criticized for suspicious crypto trading worth 6 billion won ($4.54 million). Kim is suspected of cashing out his crypto ...

Lee Min-hyung | 2023-05-08 16:24

Korea takes first step toward institutionalizing crypto assets

Korea takes first step toward institutionalizing crypto assets

Korea has taken its first step toward institutionalizing crypto assets, after a committee at the National Assembly approved an act focusing on the protection of crypto investors.

Lee Min-hyung | 2023-04-30 17:01

Frustration grows as Do Kwon's extradition likely to be delayed

Frustration grows as Do Kwon's extradition likely to be delayed

Terraform Labs co-founder Do Kwon's extradition is likely to take much more time, as Montenegrin prosecutors indicted the now-detained crypto fugitive on charges of passport forgery, according to a local report from Pobjeda, a Montenegrin daily.

Lee Min-hyung | 2023-04-21 16:28

'Crypto winter' halves banks' profits from exchanges

'Crypto winter' halves banks' profits from exchanges

As the virtual assets market entered a crypto winter last year, the profits of banks that offer real-name bank accounts for virtual asset transactions in Korea were also halved. The amount of the banks' commission showed a downtrend last year, which was in contrast to the continuous surge observed from 2019 to 2021.

Lee Yeon-woo | 2023-04-16 16:40

Dunamu likely to maintain market dominance

Dunamu likely to maintain market dominance

Dunamu, which operates the nation's leading cryptocurrency exchange, Upbit, is expected to maintain dominance in the market, as other cryptocurrency exchanges in Korea meet problem after problem.

Lee Yeon-woo | 2023-04-12 08:54

Hackers steal 20 billion won worth of coins from crypto exchange

Hackers steal 20 billion won worth of coins from crypto exchange

Hackers stole more than 20 billion won ($15 million) worth of cryptocurrencies from GDAC, a South Korean crypto exchange, the company said Monday.The attack occurred at around 7 a.m. Sunday, resulting in the transfer of digital assets, including over 60 bitcoins and 350 Ethereum tokens, to unidentified wallets.

2023-04-10 20:53

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