Source: Maksim Shmeljov/Adobe South Korean police have swooped on a group of suspected “international” crypto fraudsters, freezing over $12 million and arresting 49. Newsis reported that the Cyber Investigation Department of the Seoul Metropolitan Police Agency has “arrested a total of 49 people, including the six suspected leaders of six separate organizations.” The group has been…
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Source: Pixabay SK Telecom, South Korea’s leading mobile operator, has partnered with Aptos and Atomrigs Lab to further develop its Web3 wallet service to offer enhanced experience to users. The collaboration aims to provide users with a seamless and secure experience in the web3 environment, focusing on enhancing the capabilities of the wallet, known as…
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Source: Pexels South Korea’s Busan city is officially seeking operators for its forthcoming Busan Digital Asset Exchange. According to a notice issued by Busan City and reported by MarsBit news, the selection process for operators for the Busan Digital Asset Exchange is currently underway. Busan Digital Asset Exchange to Have an Operator Next Month The…
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Source: leungchopan/Adobe A South Korean prosecution unit dedicated to investigating crypto crime is already “overloaded” with cases, just over a year after launching. The unit operates as part of the Seoul Southern District Prosecutors’ Office and was formerly known as the Financial and Securities Crime Coalition Team. The team is also known as the Yeoido…
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Daniel Shin claimed he and Do Kwon parted ways before the collapse of the Terra/Luna ecosystem was imminent and that he had nothing to do with it. The trial of payment platform developer Terraform Labs co-founder Shin Hyun-Seong, also known as Daniel Shin, and seven others got underway in Seoul Southern District Court in South…
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South Korean crypto traders are more inclined to invest in high-risk, high-reward altcoins than their American counterparts, according to a new report. The share of major cryptocurrencies like bitcoin and ethereum in the trading volumes on the largest Korean exchange is much smaller than the one registered on the leading U.S. exchange, the research indicates.…
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Bitcoin has soared, doubling its value since the start of the year. Yet, intriguingly, the famed “Kimchi premium” in South Korea remains absent in this current surge of bullish activity. This is a notable deviation from previous bull markets, where the phenomenon was prominently observed. In fact, this time around, BTC prices in South Korea…
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Source: Pixabay Senior public officials in South Korea’s Gyeonggi province have declared their cryptocurrency holdings. The disclosure comes as part of the province’s efforts to ensure transparency among its government employees to avoid conflict of interest. Gyeonggi province announced that it had undertaken proactive measures to encourage the reporting of virtual assets by high-ranking public…
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Leading South Korean crypto exchange Upbit has been granted regulatory approval by Singapore’s main financial regulator. The authorization will allow the trading platform to provide regulated services in the Southeast Asian city-state which has established itself as a crypto hub. Upbit Singapore Gets In-Principle Approval for Major Payment Institution License The Singapore subsidiary of cryptocurrency…
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The Virtual Asset Users Protection Act was passed in June without a sufficient regulatory framework, the head of South Korea’s Financial Supervisory Service said. South Korea’s Financial Supervisory Service (FSS) is preparing regulations to supplement the Virtual Asset Users Protection Act passed earlier this year, according to local reports. New regulations should be ready by…
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