Tag Archives: South Korea

Is Global Front on Bitcoin Regulation Possible?

Is Global Front on Bitcoin Regulation Possible?

On a day where confusing news continues to emanate from South Korea and China on new proposed bans and restrictions on Bitcoin, a member of the board of Germany’s Bundesbank has called for a united global regulatory front. Joachim Wuermeling of Bundesbank believes there is very little chance of containing this digital global phenomenon with differing national rules across the […]

South Korea Clarifies Position on Crypto Regulation Amidst Confusion in Mainstream Media

South Korea Clarifies Position on Crypto Regulation Amidst Confusion in Mainstream Media

Stricter regulations for South Korea’s cryptocurrency trading industry were announced Sunday, Jan. 14, amidst continued confusion in mainstream media about a proposed ban on cryptocurrency trading by the country’s Justice Minister last week. Reports in local news agency Yonhap claimed Sunday, Jan. 14, that requirements for Korean traders to use their real names for cryptocurrency trading accounts, a potential regulation reported earlier in […]

Korea’s Crypto Crackdown Talk Draws Backlash From Users and Politicians

Korea’s Crypto Crackdown Talk Draws Backlash From Users and Politicians

More than 100,000 South Korea residents have signed petitions asking the government there to step back from any plans to close the country’s cryptocurrency exchanges.  Earlier this week, the South Korean Justice Ministry announced that it was preparing legislation to close the country’s online exchanges amid a speculative boom in cryptocurrencies. That shot across the bow was […]

‘Nothing Finalized’: South Korea Gov’t Ministries Diverge Over Crypto Ban Proposal

‘Nothing Finalized’: South Korea Gov’t Ministries Diverge Over Crypto Ban Proposal

Conflicting reports today, Jan. 11, have led to confusion after a South Korean minister announced plans of a bill intended to ban cryptocurrency trading in the country. According to Reuters, South Korean officials are working on documentation that will make it illegal to trade virtual currencies on local exchanges. The country’s Justice Minister Park Sang-ki […]

South Korean Government Stressing Over “Irrationally Overheated” Bitcoin Market

South Korean Government Stressing Over “Irrationally Overheated” Bitcoin Market

Bitcoin’s tumultuous December continued this week as the South Korean government expressed concerns at the lack of regulatory control over cryptocurrency exchanges. The country has been at the forefront of massive cryptocurrency adoption this year and the government has struggled to keep up with developments and trading in the industry, where arbitrage between exchanges is commonplace. Earlier in December, the South […]