KoreaTimes - Cryptocurrency

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The Korea Times

Entertainment & Arts

SCMP
Asia

The Korea Times

Finance

Cryptocurrency

Tue, March 28, 2023 | 15:00

16 overseas crypto exchanges engage in illegal sales activities in Korea

16 overseas crypto exchanges engage in illegal sales activities in Korea

Overseas cryptocurrency exchanges are engaging in illegal sales activities here without reporting their businesses to financial watchdogs. According to the Korea Financial Intelligence Unit, a total of 16 foreign crypto exchanges _ such as MEXC and KuCoin _ have allegedly violated the Financial Information Act by continuously operating their businesses without meeting the req...

2022-08-25 08:20

Bitcoin feared to hit bottom again amid Fed's hawkish pivot

Bitcoin feared to hit bottom again amid Fed's hawkish pivot

It is feared that major cryptocurrencies might tumble to a new low this year again amid diminishing investor sentiment after the U.S. Fed reiterated its hawkish pivot. Prices of Bitcoin and Ethereum hit the bottom in June and have since shown signs of recovery on then-reviving sentiment, with investors now expecting the Fed to slow down the pace of monetary tightening.

2022-08-23 15:54

Authorities to ban access to unauthorized foreign crypto exchanges

Authorities to ban access to unauthorized foreign crypto exchanges

The Korea Financial Intelligence Unit (KoFIU) has urged caution on the part of local clients of overseas cryptocurrency exchanges to verify whether they have been registered under the Korean financial authority. The KoFIU announced a total of 16 virtual asset service providers (VASPs) on Thursday, which had failed to register themselves with the financial authority, and are t...

Anna J. Park | 2022-08-18 16:21

FIU requests probe into 16 foreign digital asset exchange operators for unreported biz activities

FIU requests probe into 16 foreign digital asset exchange operators for unreported biz activities

South Korea's financial watchdog said Thursday it has asked law enforcement authorities to investigate 16 foreign digital asset exchange operators for their unreported business activities.

2022-08-18 14:37

Bitcoin's role expected to expand as investors circumvent capital controls: Bithumb research chief

Bitcoin's role expected to expand as investors circumvent capital controls: Bithumb research chief

More people will have a stronger interest in Bitcoin and other forms of commodity-backed currencies, as the United States has been gesturing that it wishes gradually to lessen its role as “the world's police,” a crypto expert based in Seoul said. “As was shown in the war between Russia and Ukraine, the U.S. has strategically shifted its long-standing position by reducing its ...

2022-08-17 09:00

Do Kwon says he will cooperate with investigation

Do Kwon says he will cooperate with investigation

Do Kwon, the co-founder of Terraform Labs, has shared his plan to cooperate with the ongoing investigation by the Korean prosecution, but declined to confirm when it will be, citing no charges have been brought against him over the collapse of the Terra-Luna cryptocurrencies. Kwon has made no public appearances since the Terra stablecoin and its sister token plummeted in May,...

2022-08-16 15:51

Ethereum founder expects crypto payments to become prevalent soon

Ethereum founder expects crypto payments to become prevalent soon

Cryptocurrency moguls here and abroad shared their vision on blockchain technology during Asia's largest fair which kicked off its two-day run in Seoul, Monday. The Korea Blockchain Week 2022, co-hosted by FactBlock and Hashed, is an annual event that has taken place since 2018. For this year, a group of crypto magnates, such as Ethereum founder Vitalik Buterin and Binance CE...

2022-08-08 16:12

Dunamu to support youths who have to leave foster care centers

Dunamu to support youths who have to leave foster care centers

Underprivileged children and minors who have been living in foster care facilities, foster homes, or other shelters for teenagers face a harsh reality when they come of age. They have to leave such facilities and stand on their own when they reach 18, according to the Child Welfare Act. But because they do not have homes to reside in or stable jobs, they often suffer economic...

2022-07-30 09:00

Top management's legal issues weigh on Bithumb sale

Top management's legal issues weigh on Bithumb sale

FTX's planned acquisition of Bithumb, the second-largest crypto exchange in Korea, is expected to hit a snag due to ongoing legal issues surrounding the exchange's top management. Lee Jung-hoon, the former chairman of Bithumb Holdings, is on trial for charges of fraud after BK Group dropped its plans to acquire the crypto exchange. According to the prosecution, Lee allegedly ...

2022-07-27 16:34

Crypto exchanges lay low as prosecution escalates probe into Luna saga

Crypto exchanges lay low as prosecution escalates probe into Luna saga

Cryptocurrency exchanges here are keeping a low profile as the prosecution intensifies its investigation into their trading records on the ill-fated stablecoin Terra and its sister token Luna. The probe was targeted on Korea's seven main crypto exchanges including Upbit and Bithumb. The prosecution searched their headquarters for three days from July 20 to seize their trading...

2022-07-25 17:04

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