South Korean Myongji Hospital Uses Blockchain for Medical Information Services

Blockchain For Medical Services The hospital releases official news regarding this medical service using blockchain tech on November 12. Myongji Hospital which belongs to the city of Goyang at South Korea signs agreement- Memorandum of Understanding (MoU) with BICube.  Moreover, this is a Korean IT firm creating a market as a machine learning platform. Both…

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Bithumb Partners ‘Asian Amazon’ While Lawyers Urge Korean Govt to Establish Crypto Framework

Lawyers in the Southeast Asian country lobbied the government today to quickly establish a legal framework for investor protection. The Korean Bar Association rarely campaigns publically for specific technologies or industry groups, however members felt strongly enough to do so for the cryptocurrency ecosystem within the country. According to Reuters, Bar Association President Kim Hyun…

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Korean Banks to Limit Services for Crypto Traders Without Real-Name Verification

South Korean banks are reportedly taking measures to limit services for customers who are not using the real-name system. It has been over seven months since the Korean government introduced the crypto real-name system, but only 40-50% of accounts at the country’s top four cryptocurrency exchanges have been converted into real-name ones, according to local…

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Official Korean government policy regarding initial coin offerings (ICOs)

Officially, it is Korean government policy that all initial coin offerings (ICOs) are prohibited. However, as a lawyer, I believe Korea lacks legal grounds to make illegal all kinds of ICOs, especially in the case of utility token ICOs, because there is as yet no particular law to regulate and prohibit them unless the tokens…

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Only 12 out of 23 Korean Crypto Exchanges Pass Probe – Inspector Under Fire

The self-regulatory inspection of South Korean cryptocurrency exchanges is complete. Fourteen out of 23 exchanges agreed to be inspected. Twelve met the self-regulatory standards despite security flaws, raising questions of how effective the inspection is. 12 Exchanges Pass Security Checks The Korea Blockchain Association (KBA) held a press conference Wednesday to announce the results of…

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Malware in South Korean Cyberattacks Linked to Bithumb Heist

Lazarus Group is likely behind a spear phishing campaign containing malicious code to download Manuscrypt malware. Lazarus Group, a team of cybercriminals reportedly based in North Korea, is believed to be targeting its southern neighbor with malicious documents. The files, recently reviewed by South Korean researchers and experts at AlienVault, pack Manuscrypt malware as the…

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A South Korean Hospital Announces on Accepting Payment in Cryptocurrencies

The reign of digital currencies proved how deeply rooted they have been and how promising it is to be considered in future payments when a hospital in South Korea announced its decision to accept its payment. The Seoul based hospital has made provisions for patients who decide to make payment in cryptocurrencies. KMP Health Care…

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Investigation of South Korea’s Largest Crypto Exchange Upbit Continues

Since the South Korean prosecution started investigating Upbit, the country’s largest cryptocurrency exchange, more events have unfolded. While local media still discuss allegations and raise questions about Upbit’s business practice, some people believe that Upbit is already in the clear. The investigation continues. The Allegations Local media reported on Friday that South Korea’s largest cryptocurrency…

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$350 Million Bitstamp Acquisition Negotiations Denied by Nexon CEO

The bitcoin exchange industry is widely considered to be in a process of transition, with big players stepping in and acquisitions leading to greater consolidation. As such it is not surprising to hear that Bitstamp is on the shelf, although a rumored buyer now denies it.   Also Read: Bitcoin in Brief Wednesday: Crypto Leakers,…

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Korean FTC Keeps A Check on Crypto Exchanges

Korean FTC asks a dozen of Cryptocurrency Exchange to review Customer Contracts Every responsible nation is taking strict actions against the cryptocurrency frauds and trying to mitigate the number of same. To participate in the race, Fair Trade Commission (FTC) of South Korea has given orders to around dozens of Cryptocurrency exchanges to revise their…

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Korean Regulator Warns Kakao's ICO Abroad Could Violate Crypto Regulations

Responding to media reports that South Korean internet giant Kakao plans to raise funds using an initial coin offering (ICO) abroad, the country’s financial regulator reportedly warned that the ICO could violate current cryptocurrency regulations. ICOs Abroad Could Still Violate Korean Laws Kakao Corp, which operates the country’s most popular chat app, Kakao Talk, plans to…

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