Bithumb Launching US Securities Exchange with SeriesOne Partnership

South Korean cryptocurrency exchange Bithumb has joined the league of exchanges diversifying their international offerings by setting up a US securities trading platform.  Preempting ‘Global’ Blockchain Asset Tokenization Through a partnership with blockchain fundraising platform SeriesOne, Bithumb seeks to speed up its growth into a “global financial firm” by cornering the securities token market, local […]

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South Korea Stands Firm: Won’t Legalize ICOs For Now

South Korea stood its ground on the matter of legalizing initial coin offerings (ICOs), reaffirming the ban that the country instituted last fall. ICO Ban Stands The Financial Services Commission (FSC) – South Korea’s top financial regulator — reaffirmed October 11 that the country will maintain its position on initial coin offerings and keep them outlawed. […]

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South Korea: Trading Volume Soars as Bithumb Reopens to New Customers

Major South Korean cryptocurrency exchange Bithumb has announced it will resume accepting new user accounts after resolving a dispute with its banking partner. Month-Long Impasse Ends As local news media outlet Yonhap reports August 29, Bithumb has come to an agreement with Nonghyup Bank, which in July stopped serving it, reportedly due to the exchange’s […]

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South Korea’s Financial Services Commission Announces Creation of Cryptocurrency Division

South Korea’s Financial Services Commission recently announced a “major organizational reshuffle” to help protect consumers and adapt to changing financial innovations. Part of the reorganization includes a new division to oversee the cryptocurrency sector. The government of South Korea has taken a relatively careful and considered approach towards cryptocurrencies and blockchain technology over the last […]

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South Korea Moving Towards Cryptocurrency Acceptance

South Korea is continuing to legitimize and embrace cryptocurrency through a careful and considered approach. ‘The regulator isn’t opposed to cryptocurrencies’ On May 19, Bitcoinist reported that Korean regulators had agreed to apply the G20’s set of “unified regulations” in regards to cryptocurrencies. South Korea’s Financial Supervisory Service (FSS) stated at that time: It’s almost certain […]

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South Korea to Invest $230M in Blockchain Technology Development

The Ministry of Science and ICT of South Korea revealed a Blockchain Technology Development Strategy on June 21st earmarking a total of 230 billion Won (over of $200M USD) for the development of blockchain-based technology.    Multiple Initiatives The Government announced that it plans to finish the fundraising by 2022. In an attempt to further the development […]

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South Korea: Reports of 10% Tax on Cryptocurrency Gains Are Fake

10% Tax on Crypto Grains is Fake News Taxation has been a hot topic in the cryptocurrency world this year. Governments want their piece of the pie and traders are anxious to know how badly their tax collectors plan to gouge them. Luckily, many governments have already announced their stances on the matter. Some have […]

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Bithumb Hack: Exchange Confirms It Will Reimburse All Users

Wilma Woo · June 21, 2018 · 8:00 am South Korea’s largest cryptocurrency exchange, Bithumb, has confirmed that it indeed lost 35 billion won ($31.4 million) in this week’s high-profile hack — which it will repay to users in full.  Bithumb: Amount Lost Could ‘Decrease’ In an update posted on June 21, the Bithumb said it […]

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