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“# Upbit reportedly first crypto exchange to file with Korean regulators ” Major South Korean cryptocurrency company Upbit has reportedly submitted a business report with the Korean Financial Intelligence Unit (FIU). Upbit reported its digital asset business to the FIU, which operates under South Korea’s top financial regulator, the Financial Services Commission (FSC). Upbit’s operator,…
“# Korean internet giant Kakao expands blockchain presence to Singapore ” Singapore is reportedly the next port of call for Kakao’s globalization agenda for its legacy blockchain platform Klatyn. According to a report by The Korea Herald on Monday, Kakao has established two new blockchain-based entities — the Klatyn Foundation and Krust — in the…
“# Binance halts KRW pairs amid tightening crypto exchange regulations in Korea ” Binance has halted Korean won (KRW) trading pairs as part of a raft of changes to its operations in South Korea. In a notice issued on Friday, the crypto exchange giant announced the discontinuation of KRW trading pairs as well as KRW…
“# South Korea’s crypto regulation is now expanding to foreign businesses ” Due to their anonymity or pseudonymity, digital assets are perceived as entailing the risks of money laundering and financing terrorism. In October 2018, the Financial Action Task Force (FATF) adopted changes to its recommendations on financial activities involving digital assets, adding the definitions…
“#North Korea issues threat over US-South Korea military drills” North Korea on Wednesday threatened to respond to US-South Korean military drill it claims are an invasion rehearsal. Senior North Korean official Kim Yong Chol condemned South Korea for continuing the allied drills and warned of unspecified counteractions that would make Seoul “realize by the minute”…
“# South Korean banks doubled crypto transaction fee revenue in Q2 ” Three South Korean banks with crypto exchange partnerships have reportedly made $14.71 million in transaction fees in the second quarter of 2021. According to The Korea Herald, Shinban Bank, K bank and NH Nonghyup Bank announced a total revenue of 16.9 billion South…
“#Samsung exec Jay Y. Lee expected to leave prison Friday” Samsung Electronics vice chairman Jay Y. Lee, in jail after convictions for bribery, embezzlement and other charges, has qualified for parole and is expected to leave prison this Friday, South Korea’s justice ministry said. But he still has other serious legal woes. Prosecutors argue the 2015 $8 billion merger of…
“#’Recovery bus’ provides cool relief for S.Korea’s COVID-19 testers” NAMYANGJU, South Korea, Aug 3 – South Korean health workers staffing COVID-19 testing centers in the summer heat can now take a minute to peel off their heavy protective suits and cool down in government-provided ‘recovery buses’ equipped with air conditioning, cold water and snacks. South…
“# South Korean regulator to reportedly shut down 11 crypto exchanges ” South Korea’s top financial regulator, the Financial Services Commission, is reportedly planning to shut down a dozen local cryptocurrency exchanges amid fraud allegations. The FSC will suspend operations of at least 11 mid-sized crypto exchanges in South Korea due to alleged illegal activities…
“#Greek sports commentator fired for racist comment on South Korean” A Greek sports TV commentator was canned Tuesday after making a shocking on-air comment about the shape of a South Korean Olympic athlete’s eyes. The remark by Dimosthenis Karmiris, in reference to table tennis player Jeoung Young-sik, were deemed racist by ERT television, who subsequently…