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” Crypto Biz: SVB collapses, USDC depegs, Bitcoin still up “ Crypto investors should know by now that it doesn’t take much to topple a distressed multi-billion-dollar firm. On March 10, California regulators officially shut down Silicon Valley Bank (SVB) 48 hours after the company disclosed it was in financial distress. As Cointelegraph reported at…
” South Korea launches Metaverse Fund to expedite domestic initiatives “ While some global economies got distracted by the commotion around price instability and ecosystem collapses in crypto, South Korea doubled down on the potential of the metaverse as a new economic growth engine. South Korea’s Ministry of Science and ICT announced investments into a…
” South Korea saw over $4B unregistered crypto transactions in 2022 “ In 2022, the citizens of South Korea transacted 5.6 trillion Korean won ($4.3 billion) through “illegal” crypto exchanges, according to local sources. The country’s government has been especially attentive toward such money movement amid the tightening regime of licensing. On March 7, local…
Could Reality TV Be the Next Global Trend in Korean Content? In October 2021, Yoo Ki-hwan, content manager at Netflix Korea, received an e-mail from a stranger with a bold pitch for a show involving 100 contestants competing in a series of brutal challenges to win a cash prize worth 300 million Korean won (about…
” South Korea’s Kimchi premium turns to discount “ South Korea’s “Kimchi premium” has flipped to a discount again, meaning cryptocurrencies such as Bitcoin are now cheaper to buy on South Korean exchanges. The phenomenon is named after the Korean dish kimchi. The Kimchi premium refers to when the price of Bitcoin (BTC) trades higher…
” Korean e-commerce exec accused of accepting LUNA for shilling Terra Labs “ South Korean prosecutors have requested an arrest warrant for the former CEO of Tmon, a Korean e-commerce platform, after taking billions of won in LUNA (LUNA), now known as LUNA Classic (LUNC), for promoting Terra as a simple payment gateway. Seoul prosecutors…
” South Korea to examine crypto staking services following the Kraken case “ As reported by a local publication on Feb. 15, Korean financial authorities are looking into the staking services market. However, as the unnamed official specified to the journalists: The fears of the crypto community about the possible repercussions of the recent court…
” Regulation comes for crypto staking: Law Decoded, Feb. 6–13 “ Last week, the United States Securities and Exchange Commission (SEC) reached an agreement with cryptocurrency exchange Kraken. The latter will stop offering crypto staking services to American customers and pay $30 million in disgorgement, prejudgment interest and civil penalties. While the sum of fines…
” South Korea sets independent sanctions for crypto theft against North Korea “ South Korea announced its first independent sanctions related to cryptocurrency thefts and cyber attacks against certain North Korean groups and individuals. According to Seoul’s Ministry of Foreign Affairs, four North Korean individuals and seven businesses have been placed on a blacklist for…
” South Korean officials traveled to Serbia to find Do Kwon “ The hunt for the controversial founder of the now-collapsed Terra ecosystem, Do Kwon, has intensified with South Korean officials reportedly confirming they sent at least two people to Serbia to track him down. According to a Feb. 7 Bloomberg report, the prosecutor’s office…