News
The net is closing in on Bithumb executives as the suspected real owner of the exchange is arrested.
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South Korea News
Located in East Asia, South Korea is a country known officially as the Republic of Korea. The country is home to approximately 51 million people and uses the South Korean won as its currency. The capital of South Korea, Seoul, is geographically seated in the nation’s upper region. Thanks in part to its bustling capital and the nation’s landscape, South Korea’s economy benefits from various factors, including technological advancements. South Korea borders North Korea, also known as the Democratic People's Republic of Korea.
The South Korean crypto scene includes strict regulations on certain fronts, although the country is known to host significant crypto trading activity. On South Korean platforms, Bitcoin (BTC) sometimes trades at prices above the rest of the market, leading to the creation of the term “Kimchi premium” — a name for the difference between South Korean Bitcoin prices and the rest of the market.
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Even though this winter continues to stress test the case for Bitcoin advocation, some lawmakers strive to put their names on the crypto hot list.
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The “Virtual Currency Tracking System” will be used to monitor transaction history, extract information related to transactions and check the source of funds before and after remittance.
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One of the country’s largest crypto exchanges has fallen under investigators’ scrutiny over allegations of embezzlement by company executives.
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Among the education centers involved include colleges in Australia, Cyprus and Germany, Nigerian-based tech hub Utiva, Women in Tech, and two Ukrainian organizations.
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The Busan Digital Asset Exchange Establishment Promotion Committee said it plans to create a functional exchange by the end of the year.
4746 - Newsletter
While the FTX saga continues to make headlines, last week brought a plethora of new troubles for crypto companies in the United States, Europe and Asia.
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According to Seoul Mayor Oh Se-hoon, the virtual environment will allow residents to access official documents, file complaints, and receive answers to questions on filing taxes.
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A 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.
6199 - Market Analysis
Ethereum whales and market makers are no longer charging excessive premiums for protective put options, a sign that ETH price could be en route to new highs.
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The company confirmed that it has already broken all the ties with Huobi Korea, its former subsidiary in South Korea.
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The South Korean National Tax Service agency launches an investigation into Bithumb, according to local reports.
5252 - Breaking news
Chairman Cho Kook-bong will also take over a majority of shares previously held by co-founder Leon Li.
6046 - News
The former chair was under allegations of $70 million in fraud charges which were said to have occurred during the acquisition of Bithumb.
5101 - Newsletter
Having been granted the opportunity to enjoy Christmas and the New Year with his family, former FTX CEO Sam Bankman-Fried has very few reasons for optimism in 2023.
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