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,
The Financial Services Commission announced on Feb. 2 that deposits at Korea's four major cryptocurrency exchanges fell from 9.2 trillion won to 7.63 trillion won from Sept. 24 to Dec. 31 last year.Specifically, the deposits consist of 77.47 percent at UPbit, 19.04 percent at Bithumb, 3.88 perce
Bithumb announced on Jan. 26 that customers can transfer virtual assets only to overseas exchanges that had passed an anti-money laundering risk assessment review. As of Jan. 26, exchanges that passed the review were Coinbase, Kraken, Coincheck, Bitflyer, Bybit, Gemini, Coinlist Pro, Phemex and BitB
CODE, a company launched jointly by Bithumb, Coinone, and Korbit to develop compliance solutions for the FATF Travel Rule, unveiled its roadmap for solution development at a news conference on Dec. 8.The FATF Travel Rule, officially accepted by the Financial Action Task Force in June 2019, requires
The real owner of cryptocurrency exchange Bithumb, Lee Jung-hoon, claimed at the court that he has nothing to do with any fraud.According to the prosecution, the former head of Bithumb Holdings and Bithumb Korea met with BK Group chairman Kim Byung-kun and proposed Bithumb acquisition in October 201
The Korean currency deposits in the nation's four main cryptocurrency exchanges -- UPbit, Bithumb, Coinone and Korbit -- have increased more than 1,300 percent for the past 15 months.According to the Financial Supervisory Service, the deposits in the major local cryptocurrency exchanges increase
People Power Party lawmaker Kang Min-kuk said on Sept. 22 that a total of 22 cryptocurrency exchanges have completed the Information Security Management System (ISMS) certification, they have 14,792,925 members, and their total deposits there were 61.7311 trillion won as of the end of last month.Acc
With only 10 days left before the deadline for business registration under the Act on Reporting and Use of Certain Financial Transaction Information, it has become more visible which cryptocurrency exchanges will survive. As expected, not a few exchanges are likely to be closed down.Under the new la
NH Bank extended its real-name account issuance contracts with cryptocurrency exchanges Bithumb and Coinone on Sept. 8. Shinhan Bank and Korbit finished their preparation to follow suit. The four major cryptocurrency exchanges in South Korea including UPbit are expected to be able to do their busine
Cryptocurrency exchange Bithumb announced on Sep. 1 that foreigners who reside abroad and cannot identify themselves using their mobile phones in South Korea can no longer use its services.The exchange also said that even foreigners residing in South Korea can no longer use its services if they fail
Bithumb, Coinone and Korbit have launched CODE, a joint venture for the establishment of a common travel rule system.The three cryptocurrency exchanges announced on Aug. 31 that they set it up by joint investment, the total initial investment is 900 million won, and they equally share stakes and vot
The cryptocurrency trading volume is increasing as their prices are rising. This time, the uptrend is being led by altcoins.At cryptocurrency exchange UPbit, the price of Dogecoin was 279 won at 14:00, Aug. 9 whereas the closing price was 236 won on Aug. 2. On Aug. 8, the daily highest price was 325
NH Bank has asked Bithumb and Coinone to temporarily stop cryptocurrency deposit and withdrawal until they establish travel rule-related systems.At present, NH Bank is doing business with the two cryptocurrency exchanges by providing real-name accounts. The travel rule from the Financial Action Task
UPbit, Bithumb, Coinone and Korbit and K Bank, Shinhan Bank and NH Bank extended their contracts until Sept. 24 with regard to real-name account issuance for those using the major cryptocurrency exchanges.In order to keep doing business, the exchanges must report themselves to the Korea Financial In
Only four cryptocurrency exchanges (UPbit, Bithumb, Coinone and Korbit) are expected to be able to survive the ongoing restructuring led by the South Korean government.This is because Financial Services Commission Chairman Eun Sung-soo clarified on July 1 that banks will remain responsible for crypt
The Financial Services Commission is deliberating on not blaming a bank in the event of money laundering on the part of a cryptocurrency exchange. Domestic banks recently made the request and the commission’s decision is likely to be made next month.According to the request made by the Korea Federat
The revised Act on Reporting and Use of Certain Financial Transaction Information is predicted to lead to a shutdown of multiple cryptocurrency exchanges. Under the circumstances, it is predicted that the exchanges will sue the South Korean government. According to the act, each exchange must submit
Cryptocurrency exchange Coinbit suddenly postponed the delisting of eight cryptocurrencies on June 23, and then the prices of the coins surged up to 39 times from the previous day. The eight are LEX, IO, PTO, UPT, DEX, PROTO, DXR and NET.The exchange announced at 22:00, June 15 that those would be d
Since the beginning of June, a total of 37 altcoins have been delisted from 20 cryptocurrency exchanges in Korea which received the Information Security Management System (ISMS) certification.Market watchers expect that the eviction of altcoins will continue not only at small and medium-sized exchan
The financial authorities have decided to look more closely into cryptocurrency exchanges and UPbit and Bithumb, the two biggest in South Korea, are drawing particular attention.Every exchange must submit its business plan to the Korea Financial Intelligence Unit of the Financial Services Commission