East Asia’s cryptocurrency market is experiencing significant growth, driven by institutional adoption in South Korea and Hong Kong, according to a report by blockchain analytics firm Chainalysis. South Korea leads with $130 billion in on-chain value, while Hong Kong emerges as a major hub due to its unique regulatory framework. Both regions reflect shifting attitudes…
September 18, 2024 at 03:46 PM GST 2 mins read News The use of XRP in the retail market of South Korea is a major achievement in the evolution of cryptocurrencies. Surfy’s QR code system makes it possible to make XRP payments for consumable items, integrating the two worlds of cryptocurrency and fiat money. Such…
🚀 Stay Ahead with AltcoinDaily.co! 🌐 South Korea’s cryptocurrency market is experiencing notable growth, largely due to the increasing Korea Premium Index, according to a recent report by Chainalysis. This index, which tracks the price difference between digital assets on South Korean exchanges and global markets, has seen a significant surge, highlighting the strong local…
South Korea’s financial regulator, the Financial Supervisory Service (FSS), will inspect crypto exchanges to identify illegal practices following stricter regulations under the Virtual Asset Users Protection Act. The review aims to ensure compliance and safeguard crypto assets, with severe penalties for violations, including life imprisonment for profiting over five billion won illegally. South Korea’s Financial…
South Korean police are investigating Telegram for allegedly facilitating deepfake sex crimes. They plan to work with French investigators following the detention of Telegram founder Pavel Durov in France for similar investigations. “Telegram does not readily provide investigation data, such as account information, to us or other state investigative bodies, including those in the U.S.,”…
Continuing the growing controversy over the application, South Korea has joined the growing list of nations now investigating Telegram. The country is reportedly launching a probe into its distribution of illicit content. It has become one of many nations investigating the platform. In late August, Telegram CEO and founder Pavel Durov was arrested by French…
South Korea’s major telecom and financial giants become shareholders in BitGo. Hana acquires 25% and SK Telecom secures 10% of BitGo’s shares. BitGo is currently obtaining a license as a VASP in South Korea. South Korea’s major telecom and financial giants, SK Telecom and Hana Financial Group, have become significant shareholders in BitGo. This was…
Yonsei University in South Korea has joined Ripple’s University Blockchain Research Initiative (UBRI), becoming the 58th global partner and the 12th in the Asia Pacific region. This partnership aims to drive innovation in blockchain research across various disciplines, including artificial intelligence, finance, information systems, and management. Supported by Ripple’s funding and resources, Yonsei University will…
Bank Indonesia, the Bank of Korea, and South Korea’s Ministry of Economy and Finance have introduced a local currency transaction framework to boost bilateral trade using the rupiah and won. This initiative aims to reduce exchange rate risk and improve transaction efficiency by facilitating direct currency transactions between the two nations, bypassing the need for…
Despite recent turbulence in the crypto market, bitcoin’s price continues to carry a premium in South Korea. As of 4 p.m. EDT, bitcoin is trading at $59,002 per unit, but in South Korea, the exchange rate hits $59,900, reflecting a 1.52% premium. Despite First Negative Dip Since Oct. 2023, South Korea’s Bitcoin Premium Continues Interestingly,…
The Seoul Metropolitan Police Agency’s Financial Crimes Investigation Unit has reportedly apprehended 14 individuals involved in a $12.8 million (16 billion won) crypto mining scam. The operation’s ringleader, a man in his 40s identified only by his surname Lee, went to extraordinary lengths, including undergoing plastic surgery, to avoid detection by law enforcement. Mastermind Had…
August 30, 2024 at 10:00 PM GST updated: August 30, 2024 at 10:10 PM 2 mins read News Naver, a leading South Korean tech company, in partnership with the sports-focused blockchain Chiliz, has officially unveiled the Naver Pay Wallet, its first-ever cryptocurrency wallet. The nation’s digital economy is anticipated to be greatly impacted by this…
The CEO of cryptocurrency deposit service Haru Invest was stabbed in the neck during his fraud trial in Seoul. The attack occurred in the courtroom, carried out by a man in his 50s. Lee survived the attack with non-life-threatening injuries and was taken to a hospital. Crypto Platform’s CEO Stabbed During Fraud Trial The CEO…
According to an exclusive report from South Korean news outlet Digital Asset, Hugo Hyungsoo Lee, the CEO of crypto asset management platform Haru Invest, was assaulted during an August 28 court trial. Lee faces fraud charges under South Korea’s Act on the Aggravated Punishment of Specific Economic Crimes. He was indicted in February for the…
Haru Invest CEO Hugo Hyungsoo Lee was attacked during his ongoing fraud trial at the Seoul Southern District Court, local media outlet Digital Asset reported on Aug. 28. According to the report, a man identified as “Kang” stabbed Lee multiple times in the neck with a concealed 5 cm knife. While courtroom guards quickly subdued…