Ban Hammer Remains: South Korea’s Financial Services Commission Refuses to Lift ICO Ban

The ban on initial coin offerings in South Korea will stay, the country’s financial regulator has said in a statement. The decision by the South Korean Financial Services Commission (FSC) follows a survey which the regulator commissioned. Among the findings of the survey include the fact that some ICO projects misrepresented themselves. For instance, some had claimed to be fundraising abroad but they went on to involve South Koreans. Dirty Tricks Employed to Evade ICO Ban According to the FSC, the projects did this by registering in Singapore in order…

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South Korea’s National Assembly to Engage in First Crypto Debate: Possible Outcomes

On December 10, South Korea’s National Assembly along with several members of the Congress are set to hold the country’s first official debate around crypto involving high profile government officials. Expected Talking Points of the Debate The meeting, arranged by the local market’s largest cryptocurrency exchanges including Upbit, Bithumb, Korbit, Gopax, and Coinone, will have The post South Korea’s National Assembly to Engage in First Crypto Debate: Possible Outcomes appeared first on CCN

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Blockchain for 35 Million Users: Korea’s Biggest Insurance Firm SK Partners With ICON

ICON, South Korea’s most valuable blockchain project, has partnered with the country’s biggest telecommunications conglomerate SK, to possibly utilize blockchain technology and crypto in compensating users of its mileage system. SK Planet, a subsidiary of SK that signed a memorandum of understanding (MoU) with ICON, operates the most widely utilized mileage system in the country The post Blockchain for 35 Million Users: Korea’s Biggest Insurance Firm SK Partners With ICON appeared first on CCN

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Roger Ver Sent Governor of Jeju Island $100 in Bitcoin Cash, Did it Violate Local Policy?

Roger Ver, a prominent cryptocurrency investor who has backed some of the largest companies in the global crypto sector such as Blockchain, Zcash, BitPay, and Kraken, recently sent the governor of Jeju Island of South Korea $100 worth of bitcoin cash at a public event. Humorous Kim Yeong-Ran Rule Banter Over the weekend, Ver visited The post Roger Ver Sent Governor of Jeju Island $100 in Bitcoin Cash, Did it Violate Local Policy? appeared first on CCN

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South Korean Mobile Telecom Giant Launches 2,500 Txns/s Commercial Blockchain

KT Corp may only be the second-biggest mobile carrier in South Korea, but the telecommunications firm is reportedly the first in the world to launch a blockchain-based commercial network. According to The Korea Herald, KT Corp’s blockchain network will initially have the capacity to handle 2,500 transactions per second. Before the end of 2018, however, The post South Korean Mobile Telecom Giant Launches 2,500 Txns/s Commercial Blockchain appeared first on CCN

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Bithumb Hack ‘Doesn’t Really Change the Fundamentals of Bitcoin’: Charlie Lee

Charlie Lee, the founder of Litecoin, went on CNBC’s Fast Money program on Wednesday to discuss the recent hacking of South Korea’s cryptocurrency exchange Bithumb, among other developments in the crypto sphere. Speaking via telephone, the founder of the world’s fifth-largest cryptocurrency by market cap pointed out that while it is normal for cryptocurrency investors to The post Bithumb Hack ‘Doesn’t Really Change the Fundamentals of Bitcoin’: Charlie Lee appeared first on CCN

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Breaking: South Korean Crypto Exchange Bithumb Hacked, Thieves Steal $30 Million

South Korean cryptocurrency exchange Bithumb has suspended deposits and withdrawals after losing $30 million worth of cryptocurrencies as the result of an apparent hack. The Seoul-based company, once the world’s largest cryptocurrency exchange, on Wednesday announced that $30 million worth of undisclosed cryptocurrencies had been stolen from the platform. It is not clear at what The post Breaking: South Korean Crypto Exchange Bithumb Hacked, Thieves Steal $30 Million appeared first on CCN

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‘A Moral Hazard’: Bank of Korea Opposes Central Bank Digital Currency

The Bank of Korea (BoK) has revealed it is against the idea of issuing a central bank digital currency following a feasibility review. South Korea’s central bank isn’t keen on issuing a central bank digital currency (CBDC) citing concerns related to its impact on the basic mechanics of monetary policy and implementation as well as The post ‘A Moral Hazard’: Bank of Korea Opposes Central Bank Digital Currency appeared first on CCN

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