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South Korea: Gov’t Seeks to Tax Crypto Transactions as Capital Gains

News The South Korean government plans to tax capital gains on cryptocurrency transactions. A Dec. 9 report from The Korea Times reveals that a revised bill to introduce the measure will be drawn up by the country’s Ministry of Economy and Finance by the first half of 2020. In parallel, the Korean..

South Korea Telecoms Giant Ramps Up Blockchain Roaming Deal With China

News South Korea’s largest telecoms provider, KT Corporation, is boosting a partnership with China Mobile targeting blockchain technology and 5G roaming. As local English-language news outlet The Korea Herald reported on Dec. 5, KT is preparing to debut 5G roaming capabilities in China later this ..

South Korean Startup Claims to Have Solved Blockchain’s Speed Problem

News The South Korean-based firm Bloom Technology announced that they have created a new technology that is able to speed up transactions on the blockchain. On Dec. 3, United Press International reported that Bloom Technology’s CEO, Lee Sang-yoon, said that the company's Lotus Chain technolog..

Upbit Hack: Stolen ETH Worth Millions on the Move to Unknown Wallets

News One of the addresses involved in last week’s theft from South Korean crypto exchange Upbit is moving millions of dollars worth of stolen Ether (ETH) to an unknown wallet. As Whale Alert — a service dedicated to tracking major cryptocurrency transactions — has flagged today, Dec. 3, a 10,000 E..

UpBit Promises Swift Reimbursement, Theories Over Missing Funds Swell

Follow up On Nov. 27, major South Korean cryptocurrency exchange UpBit announced that 342,000 Ether (ETH), accounting for roughly $50 million, were stolen from its hot wallet earlier that day. Details remain vague, and some users are suggesting an inside job, although experts are skeptical of the ..

Klaytn Blockchain Ahead of Facebook’s Libra Network, Says Kakao CEO

News Yeo Min-soo, the CEO of South Korean internet giant Kakao, said that his firm’s Klaytn blockchain is similar to Facebook’s Libra except it is way ahead in its development. According to the Korea Herald on Nov. 28, Min-soo lauded Klatyn’s development during the first Klaytn Governance Council ..

Signs Point to Inside Job in Upbit Crypto Exchange Hack, Says Commentator

News Following the theft of 342,000 Ether (ETH) ($50 million) from major South Korean crypto exchange Upbit, some commentators have suggested that the hack was actually an inside job. As Cointelegraph contributor Joseph Young tweeted on Nov. 27: “The ‘hacker’ timed when UPbit was making crypto tra..

BREAKING: Crypto Exchange UpBit Confirms Theft of 342,000 Ether — $50M

News Major South Korean cryptocurrency exchange — run by a subsidiary of Korean tech giant Kakao — has notified users of the theft of 342,000 Ether (ETH) from its hot wallet. The incident was confirmed in an official statement written by Lee Seok-woo, the CEO of Upbit’s operator, Dunamu, on Nov. 2..

South Korea Progresses Bill to Provide Legal Foundation for Cryptocurrencies

News South Korea’s National Assembly is progressing a bill that will provide a legal basis for cryptocurrencies in the country. The bill categorizes virtual currencies as digital assets and intends to bring regulatory clarity and transparency to crypto markets in South Korea, English-language news..

China’s Dive Into Blockchain, Digital ID Spurs Rest of World to Action

Analysis News on crypto and blockchain technology is coming in abundance from China. This became especially true in late October 2019, when the Chinese President Xi Jinping called for accelerating the use of blockchain technology in the country. President Xi identified dozens of use cases that sho..

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