Even after surpassing the “psychological resistance level” of 100 million won, bitcoin continues its upward trend in the domestic market.In particular, a phenomenon known as the “kimchi premium” is observed, where the price of bitcoin in the domestic market is forming higher than that in the U.S. ma
Crypto.com, trusted by more than 80 million customers worldwide and the industry leader in regulatory compliance, security and privacy, has signed a memorandum of understanding (MoU) with Altava Group, a vertical AI fashion tech company delivering innovative virtual experiences and products for majo
In the future, cryptocurrency issuing companies will no longer be able to arbitrarily recognize profits or assets.The Securities and Futures Commission (SFC) under the Financial Services Commission (FSC) announced on Dec. 21 that it had passed the “Supervisory Guidelines for Accounting Treatment of
The National Pension Service (NPS) has purchased a large stake in Coinbase, the largest U.S. cryptocurrency exchange, for the first time, paving the way for future direct investment in cryptocurrencies.According to a stock holdings report filed by the NPS to the U.S. Securities and Exchange Commissi
In anticipation of the scheduled launch of a bitcoin spot exchange-traded fund (ETF) early next year, institutional investors have been actively engaging in trading, according to recent analysis.Korbit Research Center under the domestic cryptocurrency exchange Korbit revealed this information throug
Cryptocurrency exchange Korbit announced that it will hold a “no-trading-fee” event for all crypto assets traded at Korbit beginning from 9 a.m. on Oct. 20.Customers can participate in the no-trading-fee trading event immediately without going through any additional procedures such as coupon registr
Nextrade (NXT), a preparatory corporation for an alternative exchange, has received preliminary approval for an investment brokerage license from the Financial Services Commission (FSC) on July 19. As early as the beginning of 2025, it will be possible to trade listed stocks, such as Samsung Electro
The author is an analyst for NH Investment & Securities. He can be reached at esshim@nhqv.com -- Ed.Due to a reported breach of Genians’ NAC solution, investor sentiment towards the firm has worsened, resulting in a share price plunge. However, no damage has been confirmed, and related business impa
There is no sign of an end in the aftermath of the suspension of deposits and withdrawals at Haru Invest, a Korean cryptocurrency management company. Delio, considered to be number one in the Korean cryptocurrency industry, suspended withdrawals, prompting investors to file a criminal class action s
An analysis says that it is necessary to prepare a comprehensive response system for possible spillover risks between crypto assets and the traditional financial system. This is because the global crypto asset market recently revealed vulnerabilities similar to those of traditional financial markets
For the first time since the enactment of the Act on Reporting and Using Specified Financial Transaction Information, a bill related to virtual assets (cryptocurrencies) has passed the National Policy Committee of the National Assembly.On May 11, the National Policy Committee voted to pass the Virtu
The author is an analyst of NH Investment & Securities. He can be reached at jaemin.ahn@nhqv.com -- Ed.Last year, Netmarble recorded both operating losses and net losses due to: 1) a lack of new game releases; 2) new title failures; and 3) a worsening financial structure following the acquisition of
MBK Partners Chairman Kim Byung-joo has overtaken Samsung Electronics Chairman Lee Jae-yong to become South Korea’s richest man.Forbes reported on April 17 (local time) that private equity asset manager Michael Kim (Korean name: Kim Byung-joo) earned the highest income this year with a net worth of
Binance acquired 40 percent of Gopax, the fifth-largest cryptocurrency exchange in South Korea, early this month as a preparation to enter the South Korean market. According to industry sources, the South Korean government is likely to put the brakes in that adequate supervision is not easy. At pres
The author is an analyst of NH Investment & Securities. She can be reached at yd.yoon@nhqv.com. -- Ed. Partnering up with Dunamu and Lambda256, Hanwha I&S has been actively preparing to launch a blockchain business. By utilizing its extensive network, the firm is expected to work with blockchain sta
The Financial Services Commission announced on Jan. 30 that new constant monitoring systems for financial crime prevention would be put into operation this year and those would target custody and wallet service providers as well as cryptocurrency exchanges.The commission is choosing targets to be in
The Seoul Southern District Prosecutors' Office is investigating cryptocurrency exchange Bithumb.According to industry sources, the investigation has to do with market manipulation allegations and the investigation targets include domestic cryptocurrencies such as GOM2 and PXL.On Jan. 25, the pr
The Financial Services Commission is looking into cryptocurrencies issued by domestic exchanges. This is because the bankruptcy of FTX was caused by FTT, its self-issued cryptocurrency.“According to the Act on Reporting and Using Specified Financial Transaction Information, domestic cryptocurrency e
The liquidity crisis of FTX is sending alarm signals to South Korean cryptocurrency exchanges. As of 13:30, Nov. 10, both BTC and ETH dropped more than 10 percent in 24 hours.South Korean cryptocurrency exchanges’ profits are likely to plunge under the circumstances. This is because their sales are
The Korea Customs Service announced on Nov. 6 that illegal foreign exchange transactions uncovered in the first three quarters of this year amount to 2.396 trillion won, whereas last year’s total is 1.3495 trillion won. “Of this year’s total, no less than 2.37 trillion won is illegal remittances and