Bithumb Overtook Binance as Largest Spot Exchange by Daily Volumes in November

Exchanges Cryptocompare, the cryptocurrency market data aggregator, has published its monthly exchange review for November 2018, offering insights about the latest changes in the global market using transaction data from over 70 trading venues. Also Read: IRS to Face Record Number of Crypto-Related Loss Claims Key Findings in the Report The authors of the report found […]

Korean Incoming Finance Minister Confirms Cryptocurrency Taxation Plans

Regulation South Korea’s incoming finance minister, Hong Nam-ki, has reportedly unveiled his government’s taxation plans for cryptocurrency and initial coin offerings. A task force consisting of experts from government agencies and the private sector will be formed to examine overseas cases to establish domestic cryptocurrency tax rules. Also read: SEC Fails to Show Court Blockvest Tokens […]

Corporations Bypassing Korean ICO Regulations With Overseas Subsidiaries

Featured Major corporations in South Korea are increasingly establishing cryptocurrency subsidiaries and launching initial coin offerings outside of the country due to prohibitive regulations. They are seeking opportunities in countries like Japan, Switzerland, Singapore, and Gibraltar. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Regulations Driving Away Businesses An increasing […]

23 Cryptocurrency Exchanges in South Korea to Self-Regulate, 10 Opt-Out

Regulation The need for cryptocurrency self-regulation in South Korea is rising as banks still refuse to issue new virtual accounts for most crypto exchanges. The Korean Blockchain Association is preparing self-regulatory standards. Thirty-three exchanges were asked to undergo a review; twenty-three agreed but ten refused, according to local media. Also read: Japan’s DMM […]

Korean Crypto Exchange Launching Social Media P2P Payment System

Featured South Korean cryptocurrency exchange Bithumb is launching a P2P payment platform for social media including social networking sites and blogs. The exchange is also preparing to sell 12,500 kinds of mobile vouchers from 600 brands. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Social Media Crypto Payment System […]

Crypto Still Tax Free in Korea but Regulators Have Set Timeframe for Taxation

Regulation Cryptocurrency transactions are still tax-free in South Korea due to a lack of tax regulations. As the law stands, citizens are able to profit millions of won from cryptocurrencies without being required to pay taxes on them. However, the regulators have set a tentative timeframe for the introduction of the crypto […]

Huobi Officially Launches in South Korea with 100 Cryptocurrencies

News Huobi has officially launched in South Korea. The platform facilitates the trading of 100 cryptocurrencies and 208 markets. The exchange is also creating an investor protection fund and program to immediately compensate for any losses that are not investor error. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies […]

Hacked Cryptocurrency Exchange Youbit Re-Emerges Amid Insurance Controversy

News Cryptocurrency exchange Youbit has reportedly re-emerged after a series of hacks and a bankruptcy filing, amid an insurance claim controversy and civil lawsuits. The exchange continues to operate after it was sold and renamed, local media reported. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Insurance Claim Denied […]

South Korean Exchange Paying Users to Report Illegal Crypto Schemes

News The Kakao-backed cryptocurrency exchange Upbit has launched a system to reward users for identifying fraudulent multi-level schemes related to cryptocurrencies. The exchange has already identified and reported 20 such schemes to the police. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Reporting Illegal Schemes South Korea’s largest cryptocurrency […]

Korean Regulator Warns Kakao’s ICO Abroad Could Violate Crypto Regulations

Regulation Responding to media reports that South Korean internet giant Kakao plans to raise funds using an initial coin offering (ICO) abroad, the country’s financial regulator reportedly warned that the ICO could violate current cryptocurrency regulations. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies ICOs Abroad Could Still Violate […]