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
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
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
As of the end of the first half of this year, there were approximately 86 domestic corporate venture capital firms (CVC) established and held by companies to invest in alignment with their business strategies. CVC’s share of the total venture investment amount stands at 22%, and the government has a
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 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
Financial Supervisory Service (FSS) Chairman Lee Bok-hyun remarked on Oct. 11 that the FSS can take any measures for stock market stabilization in the event of further instability and the options include a complete ban on short selling.The South Korean government implemented the complete ban in Marc
The Financial Supervisory Service is looking into trillions of won sent abroad through domestic banks from domestic cryptocurrency exchanges. According to industry sources, most of the 4.1 trillion won remittances through Woori and Shinhan Banks started at the five major exchanges, that is, Gopax, B
Former Bithumb Holdings chairman Lee Jeong-hoon has won a lawsuit in a Singapore court regarding the listing of Bithumb coin BXA.Bithumb said that the Singapore court ruled on Aug. 26 that BK Medical Group chairman Kim Byung-kun should return the proceeds from the sale of coins owned by BTHMB.BTHMB
U.S. virtual asset exchange FTX is reportedly in talks to acquire Bithumb, the second-largest virtual asset exchange in Korea. Yet, sources informed in the matter say that the deal may be hampered by legal risks involving Lee Jung-hoon, the former chairman of Bithumb Holdings who is on trial for fra
The stock price of Vidente has soared as the news broke out that FTX, a U.S. crypto trading platform, is in acquisition talks with Bithumb, the No. 1 digital asset trading platform in Korea.Vidente, which is listed on Kosdaq, closed at 11,900 won on July 25, up 29.77 percent from the previous tradin
Cryptocurrencies LUNA and UST have been delisted by multiple South Korean cryptocurrency exchanges.After the recent LUNA plunge, UPbit announced on May 13 that trading would become unavailable at 12:00, May 20 and withdrawal would become unavailable on June 20. Gopax also announced that LUNA trading
UPbit, Bithumb, Coinone and Korbit linked their travel rule solutions and cryptocurrency transfer between the four exchanges is now available again.The transfer between UPbit and the others was blocked on March 25 regarding the travel rule stipulated in the Act on Reporting and Using Specified Finan
Bithumb, Coinone and Korbit interconnected their travel rule solutions on April 8, allowing users to send and receive cryptocurrencies among themselves, regardless of the amount. CODE, their joint venture, is planning to expand the interconnection to cover more exchanges. According to the Act on Rep
Shinhan Bank issued corporate won accounts for virtual asset transactions to cryptocurrency exchange Korbit on April 7, the first case since the implementation of the revised Act on Reporting and Use of Certain Financial Transaction Information in September last year.Previously, corporations were no
The world’s first mandatory cryptocurrency travel rule became effective in South Korea on March 25 so that sender and receiver information is confirmed by an exchange each time a request is made for a deposit or withdrawal of one million won or more.Exchanges are not fully prepared yet. For example,
The world’s first cryptocurrency travel rule becomes effective on March 25 at South Korean cryptocurrency exchanges. It is to reveal the names, nationalities and addresses of those who send and receive cryptocurrencies.Once the rule is implemented, cryptocurrency movement between an exchange and a p
WeMade’s virtual asset WeMix has been listed on the U.S. cryptocurrency exchange Crypto.com.The exchange announced on its official Twitter account on March 18 (local time) that WeMix has been added to its transaction list. The exchange is an official virtual asset partner of the Los Angeles Lakers,