The Virtual Asset Users Protection Act was passed in June without a sufficient regulatory framework, the head of South Korea’s Financial Supervisory Service said.
Sui Foundation Calls Report of Supply Manipulation ‘Materially False’
SUI, the native token of the blockchain that was built by former Meta (META) employees, has tumbled by 5% on Tuesday after the community raised concerns over whether the team had been selling staking rewards on Binance.
Upbit Deflected 879 Hacking Attempts per Day in First Half of the Year
The exchange is immensely popular in the country and is known for attracting speculative rallies.
Bank of Korea to start CBDC infrastructure pilot
The pilot will include private banks and public institutions, while the Bank for International Settlements (BIS) will provide expert technical support.
Bankrupt CeFi firm Haru Invest hints at asset recovery
No specific timeline was given as to when users can receive their money back.
Digital Arm of Thailand’s SCBX and Korean Web3 Firm Hashed Ink R&D Partnership
The partnership comes weeks after KBank, rival of SCBX’s parent, announced a $100 million web3 fund.
Busan is developing an Ethereum-compatible mainnet to become a ‘blockchain city’
The city administration behind the project aims to make Busan a blockchain city and has launched a $75-million development plan to realize the goal.
South Koreans Hold $99B of Digital Assets Overseas: Tax Service
The crypto held in overseas accounts for about 70% of all assets held outside the country.
Crypto makes up 70% of South Korea’s reported overseas assets: Tax agency
1,432 individuals and corporations in South Korea have reported holding $98 million in crypto overseas, which is 70% of all reported assets.
South Korea focuses on OTC crypto regulations as unlawful deals reach $4B
According to the Korea Customs Service report, the value of unlawful foreign exchange transactions made using virtual currency was estimated to be worth $4 billion last year.
South Korea’s Crypto Ecosystem Shakes Off Terra Debacle, With Gaming Dominating Web3 Activity
Korean banks are gradually dipping their toes in the market, and gaming firms are trying to capitalize in the crypto-frenzied market.
South Korean Bitcoin lender Delio plans to sue regulators: Report
South Korean financial regulators accused Delio of fraud and embezzlement and seized its assets in July earlier this year.
Web3 Doesn’t Care About Bitcoin Prices – And Other Musings From Korea Blockchain Week
A packed venue and hopeful cheers from an estimated 10,000 people attending the many Web3 panels could have made one doubt whether the industry remains in one of the deepest bear markets in its young history.
Crypto Biz: Coinbase’s lending bet, a new ads policy at Google and Marathon’s mining performance
This week’s Crypto Biz explores Coinbase’s lending platform, Marathon Digital’s latest Bitcoin mining report, Hana Bank’s move to offer crypto custody and Google’s new crypto ads policy.
$500B Korean Asset Manager Taps Polygon Labs to Develop Tokenized Securities Network
Mirae Asset Management teams up with Ethereum scaling solution Polygon Labs to develop a tokenized securities network and accelerate adopt of Web3 technologies.
BitGo Signs Strategic Agreement With Korean Heavyweight Hana Bank
The Californian company will develop custody services and security solutions, local media reported.
South Korean Hana Bank enters crypto custody business with BitGo
KEB Hana Bank and BitGo plan to launch a joint cryptocurrency custody venture in the second half of 2024.
South Korean parliament rejects motion to expel lawmaker over crypto scandal
South Korean lawmaker and Wemix investor Kim Nam-kuk will stay in the parliament after a 3:3 vote in the expulsion motion.
Naver Corp unveils South Korea’s answer to ChatGPT and generative AI
South Korean internet giant Naver Corp. has released CLOVA X, a Korean language chatbot similar to ChatGPT that can have conversations and summarize text.
GenZ in South Korea prefer XRP and other altcoins to BTC and ETH: Report
A report from a local South Korean publication found that 20% of GenZ investors in the country have XRP as their most selected altcoin.