Bithumb Partners With Blockchain VC Firm Nvelop to Launch Exchange in UAE: Report

South Korean cryptocurrency exchange Bithumb will open a new platform in the United Arab Emirates (UAE), local news outlet The Financial News reported Feb. 12. The UAE-based platform is reportedly to be developed in partnership with Abu Dhabi-based firm Nvelop and will function as a springboard for Bithumb to expand into other countries in the…

Read more »

South Korean Fintech Firm Launches ‘First’ Won-Backed Stablecoin

South Korea-based fintech firm BxB Inc. has launched the first supposed stablecoin backed by the Korean won, according to a press release shared with Cointelegraph on Jan 29. There was an initial beta soft launch of the coin on Airswap, a decentralized exchange platform, before the tokens were released on the global and Korean exchange,…

Read more »

Executives at Korean Exchange Komid Jailed for Faking Volume

South Korean court sentenced prison time to two executives of the crypto exchange Komid for faking exchange volumes and deceiving customers, according to a local media report by Blockinpress. Hyunsuk Choi, CEO of the exchange, has received three-year jail time for his part in the crime while Park Mo was sentenced for two years in…

Read more »

IBM, Ford Blockchain Pilot Targets Cobalt Supplies From Democratic Republic of Congo

Global technology giant IBM will use its blockchain platform to monitor and trace supplies of cobalt from the Democratic Republic of Congo, the company confirmed in a press release on Jan. 15. IBM, which has already used the in-house IBM Blockchain platform built on the Hyperledger Fabric in multiple use case environments, will now target…

Read more »

Italy Is Looking to Expand Its Blockchain Protocols

The Ministry of Economic Development in Italy has tasked 30 proclaimed experts in the cryptocurrency space with the task of building the nation’s blockchain strategy from the ground up. Among those tasked with the job are Angiolini Giorgio – head of marketing at the telecon firm Italtel and a member of UN INFO’s blockchain group;…

Read more »

South Korea Ends Year With 6 Bills to Regulate Cryptocurrency Industry

South Korea’s top financial regulator has exclusively shared with news.Bitcoin.com information about six cryptocurrency-related bills that have been submitted to the National Assembly. The most recent bill seeks to protect the rights of crypto owners and to ensure the safety and reliability of crypto transactions. Six Crypto-Related Bills South Korea’s top financial regulator, the Financial…

Read more »

Year in Review: 2018's Top Cryptocurrency Stories

After an intense 2017, filled with cryptocurrency market spikes, the following year was loaded with letdowns as a great majority of digital assets plunged well over 80 percent in value since their all-time highs. 2018 was also filled with lots of headlines about digital currency regulations, exchange hacks, and postponed exchange-traded funds. 2018 Saw Hundreds…

Read more »

Blockchain Remittance Service Rolled Out By South Korea’s Coinone Transfer

South Korean payments firm Coinone Transfer has introduced the country’s first blockchain-powered remittance mobile app and web service. Coinone Transfer is a subsidiary of crypto exchange Coinone that focuses on remittances. In May of this year, Coinone Transfer joined RippleNet to use xCurrent, Ripple’s blockchain solution for cross-border payments and settlement, to allow customers to…

Read more »

Bithumb Launches Voting Platform to Screen New Cryptocurrencies

Major South Korean cryptocurrency exchange Bithumb has beta launched a public voting system for screening new coins to be listed on its exchange. The platform, Pickthumb, aims to boost transparency and fairness in Bithumb’s listing process. Five coins are currently being evaluated with the current voting round ending in nine days. Bithumb’s Voting Platform One…

Read more »

South Korea: Messaging Giant Kakao to Attract Crypto Investments in Singapore

Kakao Corp, a major South Korean Internet conglomerate, has established a subsidiary of the company in Singapore to attract foreign investments with cryptocurrencies, Seoul-based media outlet News1 reported Nov. 21. According to the article, Kakao Corp established the brainchild of Kakao subsidiary Ground X, the corporation’s blockchain platform Klaytn, in Singapore yesterday. The media outlet…

Read more »

State of Regulation in South Korea: Banks Required to Provide Fair Services to Crypto Exchanges

On October 30, South Korea’s main financial authority officially cleared banks to work with crypto exchanges for the first time in history, establishing a major milestone for the local cryptocurrency sector. At the state affairs audit, held by both government parties of South Korea to evaluate and track the progress of every government branch and…

Read more »

South Korea’s Zeniex Closes Amid Government Crackdown on Unauthorized Crypto Exchanges

South Korea’s cryptocurrency exchange Zeniex will soon terminate its services due to a recent government crackdown on unauthorized platforms, a post by Zeniex reveals Friday, Nov. 9. The crypto exchange, a joint project by South Korea and China which opened May 2018, states in the post that due to “recent issues,” they have “come to…

Read more »

Korean Bar Association Pressures South Korean Govt For Crypto Framework

The Korean Bar Association (KBA) is urging the South Korean government to quickly establish a legal framework to help develop the local crypto industry and protect investors. In a news conference at the Korean parliament, the KBA, which is comprised of 23,557 attorneys and 1,353 law firms, has appealed to the government to promptly institute…

Read more »

ICON Showcases Three Blockchain Services For Seoul Residents

Blockchain startup ICON, in partnership with the Seoul government, has demonstrated the three main components of its blockchain platform. ICON is building a decentralized network that allows independent blockchains with different governances to transact with one another without intermediaries. The company is vying to be the first to connect South Korea through a massive-scale blockchain….

Read more »

South Korea's FSC Rejects Allowing ICOs, Claims There Are 'Uncertainities' to Them

South Korea’s financial regulator has rejected steps to permit initial coin offerings (ICOs), arguing that there are “uncertainities” related to them. South Korea Says No Speaking to a parliamentary audit meeting, Choi Jong-ku, chair of the Financial Services Commission (FSC), said: Although many people call for the government to allow initial coin offerings, there are still…

Read more »

South Korea’s Biggest VC Firm Chooses EOS-Based Project

The biggest investment company in South Korea has invested money in an EOS-based blockchain project. Specifically, Korea Investment Partners of Seoul invested in TEMCO. The amount of money has not yet been disclosed. Join the Leading Industry Event! Block/Supply Chain According to its website, TEMCO offers a blockchain that will support business supply chains. Retailers benefit…

Read more »

South Korea’s SK Planet, ICON Foundation Sign MOU For Cooperation In Blockchain Business

SK Planet, a subsidiary of SK Telecom, South Korea’s largest wireless carrier, has signed a memorandum of understanding (MOU) with the ICON Foundation for blockchain technology and business cooperation. SK Planet is an Internet platform development company located in Pangyo, South Korea’s silicon valley. It was spun off from SK Telecom to focus on online…

Read more »

Upbit Crypto Exchange Operator to Open Singapore-Based Crypto Exchange Next Month

Kakao-affiliate Dunamu, the operator of major South Korean crypto exchange Upbit, plans to open a Singapore-based exchange next month, local news outlet Yonhap News reports September 19. According to Yonhap, Dunamu already set up a branch in Singapore this February as part of its active push to expand across the Asian market. While the exact…

Read more »

Bittrex to Launch Crypto Exchange in Malta Next Month

US-based cryptocurrency exchange Bittrex is reportedly launching a crypto exchange in Malta at the beginning of next month. Bittrex says the new platform will allow them to list coins “a lot faster.” It will operate within the regulatory framework established by the European Union and the Maltese government. Bittrex Eyes Malta Launch in October Bittrex…

Read more »

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…

Read more »