South Korea

Crime

Bitcoin Pyramid Scheme Amassed $20 Million in South Korea

Two men in South Korea have been sentenced for building a bitcoin pyramid scheme that swindled around $20 million from investors.

Policy & regulation  ·  20 April 2018
Regulation

Korea Moves to Limit Crypto Mining Chip Imports

Cryptocurrency miners in South Korea may soon find it more difficult to get foreign-made mining chips imported to the country.

Policy & regulation  ·  19 April 2018
Exchanges

Industry Group to Bring ‘Order’ to Korea’s Crypto Exchanges

A South Korean blockchain industry organization has proposed a self-regulatory framework to set standards for the cryptocurrency exchange industry.

Policy & regulation  ·  17 April 2018
Exchanges

Korea to Inspect 3 Banks Over Crypto Exchange Connections

Three South Korean banks are to be inspected over their compliance with new anti-money laundering rules for cryptocurrency exchange accounts.

Policy & regulation  ·  9 April 2018
Exchanges

Korean Police Detain 4 Crypto Exchange Execs Over Alleged Embezzlement

South Korean police on Thursday detained four executives from two cryptocurrency exchanges over alleged embezzlement.

Policy & regulation  ·  5 April 2018
CBDC

R3 Researcher: Central Bank Blockchain Could Go Live In 2018

South Korea's first major blockchain conference saw discussion of the possibility of a central bank cryptocurrency Wednesday.

Business  ·  5 April 2018
Exchanges

Korea’s Crypto Exchanges Pledge Market Cleanup

While the crypto market has seen a major correction recently, Korean exchanges show future optimism and double down on self-regulation efforts.

Markets  ·  3 April 2018
Crime

Korean Police Bust Bitcoin Miners Illegally Using Cheap Factory Power

Companies using cheap electricity to mine cryptocurrencies at industrial complexes in South Korea have reportedly been arrested by police.

Policy & regulation  ·  2 April 2018
Exchanges

Report: Korean Insurer Denies Claim from Bankrupt Crypto Exchange

A South Korean cryptocurrency exchange has reportedly had its insurance claim denied months after it closed following a debilitating hack.

Business  ·  29 March 2018
Cryptocurrency

Survey: Younger Koreans More Likely to Invest in Crypto

Nearly a quarter of South Koreans in their 20s want to invest in cryptocurrencies, according to a new poll conducted by Bank of Korea.

Markets  ·  28 March 2018
South Korea

Kakao Confirms Creation of Blockchain Platform, Denies ICO Rumor

South Korean internet giant Kakao has confirmed it is setting up a new blockchain subsidiary, but quashed rumors of a planned initial coin offering.

Business  ·  27 March 2018
Exchanges

Korean Regulators to Probe Bank AML Measures for Crypto Exchanges

Two South Korean regulators are reportedly launching an investigation of banks' implementation of anti-money laundering procedures for exchanges.

Policy & regulation  ·  22 March 2018
Regulation

South Korean Financial Watchdog Touts Blockchain in Fintech Plans

South Korea's Financial Services Commission plans to encoureage businesses to use blockchain tech in new payment systems and more.

Policy & regulation  ·  21 March 2018
Regulation

Korea Telecom Announces Blockchain For Network Security

South Korean telecom provider KT unveiled a new system based on a blockchain security-focused network.

Policy & regulation  ·  21 March 2018
Exchanges

South Korea Raids 3 Crypto Exchanges in Embezzlement Probe

South Korean prosecutors reportedly raided the offices of three cryptocurrency exchanges on suspicion of siphoning off funds from customers' accounts.

Policy & regulation  ·  15 March 2018