The South Korean crypto exchange operator Dunamu is set to accrue a tax bill of a whopping KRW 1trn (USD 843m) following the most successful year yet for its Upbit trading platform. According to Donga, Dunamu posted cumulative operating profits of USD 2.2bn in the first three quarters of the current financial year. … Read…
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Upbit operator Dunamu plans to expand its joint NFT venture with South Korean entertainment firm HYBE. Dunamu, the operator of major South Korean cryptocurrency exchange Upbit, is progressing with blockchain development as its blockchain arm Lambda256 secured new funding. According to a Dec. 15 announcement, Lambda256 raised 70 billion Korean won ($60 million) in a…
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Public officials in South Korea are increasingly choosing career opportunities in the cryptocurrency sector. Some of them come from financial authorities which raises ethical questions, according to the findings of a Korean lawmaker, quoted by local media. Former Financial Officials Hired by Major Korean Exchanges A growing number of officials in Seoul are vacating their…
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The South Korean crypto trading platform Bithumb has been hit by disrupted transactions, with deposits and withdrawals requests encountering “errors” – with customers rushing to complete new know-your-customer (KYC) procedures. Bithumb users reported disruptions as the number of users trying to verify their identity on the exchange appears to have swamped servers with traffic….…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________ … Read More: AMC Starts Accepting Crypto, Regulatory Meetings, Bitcoin Mining Difficulty + More News Read more »Pay, Trade, Buy Bitcoin with Credit Card
MATIC retested the bull flag’s upper trendline as resistance Friday after its price rose by up to 30%. Polygon (MATIC) has the potential to reach $3.50 by the end of this year as it charts a pattern that’s starting to resemble a bull flag. In detail, bull flags are bullish continuation patterns that emerge when…
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Major South Korean crypto trading platform Upbit will start gradually limiting services for unverified users this week. South Korean cryptocurrency exchange Upbit will soon halt services for unverified users. On Saturday, the company officially announced a set of changes to its customer verification system in compliance with South Korea’s mandatory Anti-Money Laundering (AML) requirements. According to…
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Leading cryptocurrency exchanges in South Korea have reached agreements with Korean banks to maintain the issuance of real-name accounts, media reports revealed. The deals, although not yet permanent, will allow the trading platforms to register with financial authorities before the Sept. 24 compliance deadline. Bithumb, Coinone and Korbit Maintain Partnerships With Korean Banks Banks have…
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South Korean crypto exchange Bithumb said it will deny access to foreigners unable to verify their identities via mobile phone. The decision comes as the trading platform moves to comply with the country’s updated regulations coming into force later this month. Korean Exchange Bithumb Prepares to Register Under New Rules Foreign nationals who do not…
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The increased trading volume comes following the Financial Services Commission’s requirement that crypto trading platforms register as digital asset service providers before Sept. 24. Crypto users between 30 and 39 years old are the demographic with the most deposits on major exchanges in South Korea. According to a Sunday report from the Yonhap News Agency,…
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