According to prosecutors, Lee Jeong-hoon intended to revamp Bithumb’s governance to gain from exchange coins, circumventing financial regulations.
BitHumb News
BitHumb is one of the most popular cryptocurrency trading platforms in South Korea. The BitHumb exchange was founded by BTC Korea.com LTD company in 2013 and now is headquartered in Seoul. BitHumb is one of the leaders among the cryptocurrency trading companies in South Korea and Japan in terms of trading volume. Almost all options of BitHumb are oriented on Asian countries. Almost all popular cryptocoins are available, but the only available fiat currency there is the Korean Republic’s won. BitHumb fees for transactions are about $0.15 and don’t depend on the transaction’s amount. The platform has a difficult process of verification and other security properties. Nevertheless, the exchange was hacked in 2017 and it affected three percent of users. However, it was not a problem of security, as the access was made from a BitHumb employee’s PC.
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City authorities of Cheongju are looking to seize cryptocurrency from anyone who owes at least $750 in crypto taxes to the government.
4725The proposed bill would require top government officials and lawmakers to declare all personal crypto holdings over $760.
7155The raids came as a local lawmaker stepped down from politics amid accusations of allegedly selling millions in cryptocurrency before new laws were enforced.
2806The net is closing in on Bithumb executives as the suspected real owner of the exchange is arrested.
3988Bad news continues to dominate crypto media headlines, but Bitcoin and the broader market appear not to care.
7384A ruling from local courts has Bithumb liable to pay just over $200,000 in damages to the 132 investors which filed against the cryptocurrency exchange.
7022The former chair was under allegations of $70 million in fraud charges which were said to have occurred during the acquisition of Bithumb.
6050The sentencing hearing is set for Dec. 20 and could see the former chairman of South Korean crypto exchange Bithumb behind bars for a maximum of eight years if found guilty.
1765The decision on the civil lawsuit might affect a trial court in South Korea.
1558Korean exchanges will soon be required to list tokens based on the same guidelines to ensure compliance with local regulations, and make emergency decisions together to prevent another Terra fiasco.
3641Bithumb users in South Korea have just two days to perform another round of KYC to whitelist their personal wallets, or crypto withdrawals will be blocked.
3424Rumors abound that LG subsidiary, LG CNS, is the technical partner helping Bithumb develop its NFT marketplace, which is set to be launched at some point in 2022.
2935Bithumb’s stricter KYC requirements come in line with South Korea’s tightened Anti-Money Laundering regulations regarding foreign users of crypto exchanges.
4227The increased trading volume comes following the Financial Services Commission's requirement that crypto trading platforms register as digital asset service providers before Sept. 24.
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