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“# South Korean regulators parley with 20 crypto exchanges ” Small and medium-sized exchanges in South Korea had a chance to express some of their grievances with the government during a recent meeting with financial regulators. According to a report by South Korean news outlet D.Street, the Financial Services Commission (FSC) convened a closed-door meeting…
“# The CBDC promised land: As some governments falter, others press on ” With the crypto market turning up its pace of growth over the last year and a half, the idea behind central bank digital currencies (CBDCs) seems to have gained an increasing amount of traction among many governments and retail banking institutions. In…
“# Bank account flows for South Korean crypto exchanges surge 40% since 2020 ” As cryptocurrency markets grew in the first quarter of 2021, South Korean banks saw record volumes of deposits and withdrawals to local crypto exchanges. South Korean commercial banks processed 64.2 trillion won ($57.9 billion) of transactions on real-name bank accounts linked…
“#Controversial ads fuel South Korea’s sexism debate” SEOUL, May 28 – This month three South Korean companies and the Seoul police have had to pull ads and other content after men’s rights groups claimed that “small penis” symbols were used, insulting men. The offending images? Hands with the thumbs and the index fingers pinching towards…
“# Korean gov’t clarifies crypto regulatory roles of different agencies ” Over the past year or so, the crypto community in South Korea has had to adapt to a suite of new regulations and government frameworks tailored to the growing industry. With the regulatory landscape for digital assets thus undergoing a marked shift, there…
“# Korea’s crypto market is among the strongest — and the strangest — in the world ” On a day in which Bitcoin crashed briefly to $30,000 in a rampant bear market, the leading cryptocurrency never got anywhere close to that on Korean exchanges. The so-called “kimchi premium” saw to that, keeping the price of…
“# Bitcoin $5K ‘kimchi premium’ returns while gold prices surge in Korea ” Bitcoin (BTC) was trading at $5,000 higher in South Korea than in other markets on Wednesday as capital flow controls continue to enforce the “kimchi premium.” While Bitcoin was trading at $39,932 on Coinbase at the time of publication, the price on…
“# South Koreans flock to crypto amid a heavy-handed regulation approach ” In South Korea, one in three citizens either own cryptocurrencies or get paid in them. One-tenth of its population trades digital assets, and its youth unemployment rate hovers above 10%. It’s a competitive job market in the East-Asian nation, where high expenses enforce…
“# South Korea’s banking association alarmed by altcoin trading mania ” The Korea Federation of Banks has raised alarm over the increase in altcoin trading volumes across crypto exchanges in the country. According to a report by The Korea Herald on Monday, the banking association has asked member banks to conduct an audit on the…
“# Digital Currency Group backs South Korean crypto exchange operator ” Digital Currency Group, the venture capital firm behind some of the biggest companies in blockchain, has become the second-largest shareholder of Streami, a leading cryptocurrency exchange operator in South Korea. Barry Silbert, founder and CEO of Digital Currency Group, explained his rationale for backing…