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Bank of Korea Seeks to Deploy Blockchain in Bond Market: Report

News Global central banks are increasingly looking at blockchain technology as a tool to make interbanking processes more efficient and transparent. Following the World Bank’s exemplary experience of blockchain bond transactions, South Korea’s central bank is working on its own blockchain-based bo..

Bithumb to Get Wall Street-Level Fintech Expertise via New Partnership

News As not a day goes by without another cryptocurrency partnership, one of the biggest crypto exchanges in South Korea has begun new cooperation. Major South Korean cryptocurrency exchange Bithumb has partnered with Singaporean crypto trading platform BitMax to jointly develop new services and p..

South Korea Commits $16M to Training Future Digital Finance Experts

News The Korean financial services commission and the Seoul metropolitan government have announced plans to invest $16 million in training digital finance experts for four years on Feb. 12. The application period to win the grant is March 4-6. Details of the new programThe FSC explained that the d..

Huobi Joins Multinational Alliance Klaytn Governance Council

News Huobi is the latest firm to join the Klaytn Governance Council, a part of Kakao’s public blockchain project which runs its distributed network under the shared governance. The council grows According to an early morning press release, the move will bolster a roster of some of the world’s lar..

Is the Future of Blockchain Tech Innovation in the East?

Opinion Since the end of World War II, the United States has been an undisputed global leader in innovation. From putting a man on the moon to the “Traitorous Eight” of Fairchild and the birth of today’s Silicon Valley, the U.S. has been at the forefront of embracing emerging technology. This posi..

South Korea Considers Imposing a 20% Income Tax on Cryptocurrencies

News South Korea’s Ministry of Economy and Finance is considering imposing a 20% tax on income from cryptocurrency transactions. According to a report published by local English-language news outlet The Korea Times on Jan. 20, the ministry had reportedly ordered its income office to review cryptoc..

Crypto Trading Giant Bithumb Set to Fight $69 Million Tax Fine

Following a $69.1 million tax bill imposed by South Korea’s National Tax Service (NTS) in late 2019, cryptocurrency exchange giant Bithumb has filed a complaint with the Tax Tribunal to negate the tax bill. The NTS and Bithumb must wait 90 days for a decision from the tribunal. Bithumb Wants Their ..

Crypto Exchange Upbit Finishes Security Update in Response to 2019 Hack

News Strengthening its walls after a hack in late 2019, South Korean crypto exchange Upbit has finished a security upgrade for the wallets on its exchange platform, restoring functionality once again. Upbit decided to update its defenses in response to an Ethereum (ETH) hack the exchange suffered ..

Prepare for Liftoff — South Korea’s Crypto Regulation Ignites in 2019

New Year Special South Korea remains the third-largest crypto exchange market by volume, just behind the United States and Japan. Despite that, throughout the past three years, the government of South Korea has opted against fully regulating the local crypto market. In the second half of 2019, the..

Bithumb May Pour Over $8M Into South Korea’s Regulation-Free Zone

News Bithumb, one of the world’s largest cryptocurrency exchanges, could invest more than $8 million into South Korea’s regulatory sandbox. Via its daughter company GCX Alliance, Bithumb has shown intent to put 10 billion won ($8 million) into South Korea’s “regulatory free zone” in Busan, accord..

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