Tag Archives: South Korea

South Korean Fintechs Are Creating a Blockchain for Trading OTC Securities

South Korean Fintechs Are Creating a Blockchain for Trading OTC Securities

A blockchain platform for the trading of unlisted securities is being developed in South Korea, according to a report in the Chosun Ilbo. The goal is to take transactions that are now expensive, slow and insecure and make them efficient and accessible to a wider range of investors. Six local participants are involved in the project, including […]

Breaking: South Korea Reveals Plans to Tax ICOs, Cryptocurrencies

Breaking: South Korea Reveals Plans to Tax ICOs, Cryptocurrencies

The government of South Korea is reportedly planning on taxing initial coin offerings (ICOs) and cryptocurrencies, according to a document submitted by finance minister nominee Hong Nam-ki. The incoming taxation plan came in a written answer submitted to the country’s National Assembly, and in it, Hong claimed it would be finalized according to the creation […]

Hodler’s Digest, September 2-9: Goldman Sachs Says ‘No Thanks’ to Crypto Trading Desk, While India Sends Officials to ‘Crypto College’

Hodler’s Digest, September 2-9: Goldman Sachs Says ‘No Thanks’ to Crypto Trading Desk, While India Sends Officials to ‘Crypto College’

Top Stories This Week Business Insider: Goldman Sachs Scraps Crypto Trading Desk Plans Goldman Sachs Group Inc. is halting its plans to open a cryptocurrency trading desk, Business Insider reported this week, but will focus on a custody product for crypto, which will allow it to hold cryptocurrency on behalf of large clients and track its price. […]

South Korean eCommerce Startup Raises $32 Million to Create Crypto Stablecoin

South Korean eCommerce Startup Raises $32 Million to Create Crypto Stablecoin

South Korea e-commerce marketplace Ticket Monster (TMON) revealed it had closed a $32 million funding round for its new stablecoin Terra in a press release Wednesday, August 29. TMON, which boasts a considerable $4 billion in total sales, is seeking to create an in-house cryptocurrency to compliment its existing token, Luna, which acts as collateral on its blockchainplatform. Contributing to the round are […]

Bitcoin May End the Year “Explosively Higher,” Says Bitcoin Bull Tom Lee

Bitcoin May End the Year “Explosively Higher,” Says Bitcoin Bull Tom Lee

Tom Lee, co-founder of Fundstrat Global Advisors and a well-known bitcoin bull, has recently argued a relatively unknown correlation between bitcoin and emerging markets may mean the flagship cryptocurrency will end the year “explosively higher.” Speaking on CNBC’s “Trading Nation,” Lee noted that both emerging markets and the cryptocurrency have been in a downtrend this year […]

Blockchain Among Targets of South Korea’s $4.4 Billion Domestic Investment Plans for 2019

Blockchain Among Targets of South Korea’s $4.4 Billion Domestic Investment Plans for 2019

South Korea announced it would “nurture” eight sectors of the domestic economy, including blockchain, by investing 5 trillion won (about $4.4 billion) next year, local media outlet Yonhap reports Monday, August 13. According to the results of a meeting involving the country’s finance ministry, the government opted to increase the amount spent on areas such as blockchain, big data […]

South Korea’s Top Financial Watchdog Joins Probe Into Cryptocurrency Exchanges

South Korea’s Top Financial Watchdog Joins Probe Into Cryptocurrency Exchanges

South Korea’s top financial regulator the Financial Services Commission (FSC) joined the ongoing probe into local cryptocurrency exchanges Sunday, May 13. The FSC will now be taking part in the anti money laundering investigation, hitherto led by the Financial Supervisory Service (FSS), in order to help expand its scope, news outlet Korea Timesreports. Commenting on the agency’s move, Vice Chairman of the […]

Cryptocurrency Market Loses $50 Billion as South Korean Exchange Is Suspected of Fraud

Cryptocurrency Market Loses $50 Billion as South Korean Exchange Is Suspected of Fraud

The cryptocurrency market turned upside down on Friday, having lost about $50 billion market capitalization overnight. With the exception of only Augur, Nuls, and Tether, the whole list of top 100 digital currencies are on the red. The dreadful sentiment seems to be a reaction to reports that South Korea’s exchange Upbit is suspected of fraud. […]

South Korean Startups Push for Blockchain Adoption in Medical Sector

South Korean Startups Push for Blockchain Adoption in Medical Sector

Blockchain technology can make a big impact in various industries. Outside of the financial sector, a few options are being explored right now. The medical industry, for example, can benefit from distributed ledgers as well. South Korean startups are pushing hard to bring healthcare and blockchain together in the years to come. South Korea Promotes Blockchain Most people know South Korea plays […]

Crypto Exchange CEO Runs For Mayor Of Taipei To Make It Asia’s ‘Pioneer Blockchain City’

Crypto Exchange CEO Runs For Mayor Of Taipei To Make It Asia’s ‘Pioneer Blockchain City’

CEO of major over-the-counter (OTC) crypto exchange OTCBTC and Facebook hackathon winner Yi-Ting Cheng (better known as xdite) has announced that she is running for mayor of the Taiwanese capital city Taipei this year, according to Cheng’s Facebook post on April 14. Cheng is known as a world class developer and hacker, having won the Global Grand Prize at […]