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Tag Archives: bithumb

11 South Korean Cryptocurrency Exchanges to Shut down Amid FSC Inspection: Report

11 mid-sized cryptocurrency trading venues in South Korea will reportedly cease their operations after the country’s watchdog identified that they operate their businesses illegally. The names of the exchanges remained undisclosed. Chain of Reaction in South Korea According to a recent report by The Korea Held, 11 mid-sized cryptocurrency platforms will soon shut down as the Financial Services Commission established that they run their operations without the needed...

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South Korea Rejects Foreign Crypto Exchanges from Its Turf

South Korea is cracking down on cryptocurrency exchange activity within its borders. South Korea Is Taking a Stance South Korea, at one time, accounted for more than one quarter of the world’s bitcoin and crypto transactions, though it appears the country’s presence within the digital currency space has died down a bit over the last three years. Nevertheless, the nation is still looking to purge all foreign digital currency exchanges from its terrain as a means of ending...

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Morgan Stanley Reportedly Planning to Buy a $440M Stake in Crypto Exchange Bithumb

Just a few days after news broke that Morgan Stanley will enable its institutional clients to buy bitcoin, the giant investment bank has reportedly started negotiations to purchase a stake in the largest South Korean cryptocurrency exchange – Bithumb. According to coverage from the Asian media website Naver News, Morgan Stanley is the latest prominent entity from the traditional financial space to consider a purchase in Bithumb. The giant bank reportedly plans to acquire a major stake in the...

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South Korea to Impose Hefty Fines on Crypto Exchanges for Failing to Comply with AML Rules

South Korea’s financial regulator, the Financial Services Commission (FSC), has announced new possible penalties for cryptocurrency exchanges based or operating in the country if they fail to comply with existing anti-money laundering (AML) rules.New Penalties for Crypto Exchanges in South KoreaAccording to the FSC’s statement from earlier today, the newly-announced initiative will affect all virtual asset service providers (VASPs), including digital asset exchanges.The revision proposal for...

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Gaming Giant Nexon Reportedly Considers Acquiring Cryptocurrency Exchange Bithumb

A recent report fueled the rumors that the South Korean digital asset exchange Bithumb is indeed for sale by naming a potential buyer. It indicated that the Tokyo, Japan-headquartered gaming conglomerate Nexon is preparing to purchase a controlling stake in the trading platform. Numerous reports from the past several months suggested that the Asian exchange is in trouble as authorities had raided the company’s offices on several occasions.The situation worsened as the exchange closed some...

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$400 Million Worth of Ripple’s XRP Transferred to Bithumb, There’s One Possible Reason

Massive amounts of Ripple’s XRP have been transferred to various exchanges, including $400 million sent to Bithumb in three separate transactions. One possible explanation for this could be the fact that there’s the SPARK (FLR) airdrop coming in two days, causing investors to capitalize on the opportunity and receive 1:1 FLR tokens on their XRP holdings. XRP Sent Around in Massive Chunks Over the Past 24 HoursData from the well-known whale-tracking transaction resource Whale Alert shows a...

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Bithumb Temporarily Shuts Down Some Offices As Korea Faces Another Possible COVID-19 Outbreak

South Korea’s largest cryptocurrency exchange Bithumb announced today that it is shutting down its offline offices as Korea struggles with a renewed coronavirus outbreak.Bithumb Suspending Offline SupportSince the start of November, the country has been recording increased daily cases of COVID-19, with the number tripling in the last nine days. This has raised fears that South Korea has entered a third wave of the pandemic.As authorities are taking measures to strengthen social distancing to...

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P2P Exchange Paxful Has Joined Hands with South Korea’s Bithumb

Peer-to-peer (P2P) bitcoin trading platform Paxful has announced it is joining hands with popular South Korean cryptocurrency exchange Bithumb Global, arguably one of the largest and most influential exchanges throughout the country.Bithumb and Paxful Are Now Working TogetherThanks to this new partnership, Paxful will have access to more customers in Asia. Bithumb currently boasts roughly one million mobile app users and eight million registered exchange users. In addition, the company...

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Local Authorities Summon Bithumb Chairman Of The Board Over Alleged Fraud

Bithumb’s situation worsens as South Korean authorities have reportedly summoned company Chairman Lee Junh-hoon for alleged fraud regarding the sale of BXA tokens. This comes days after local police raided the exchange for the third time in less than a month.Three Police Raids For Bithumb In SeptemberSeptember turns out to be a rather unpleasant month for the popular South Korea-based cryptocurrency exchange. As CryptoPotato reported earlier this month, the Intelligent Crime Investigation...

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#963 Sicherheitslücken SushiSwap, Kanton Zug Steuern in BTC & Bithumb durchsucht

Hey Informanten, willkommen zur Bitcoin-Informant Show Nr. 963. Im heutigen Video geht’s um folgende Themen: Sicherheitslücken bei DeFi-Protokoll SushiSwap, Kanton Zug will Steuern in Bitcoin akzeptieren & Bithumb von koreanischer Polizei durchsucht. 1.) Sicherheitslücken bei DeFi-Protokoll SushiSwap aufgedeckthttps://www.btc-echo.de/sicherheitsluecken-bei-defi-protokoll-sushiswap/ 2.) Schweizer Kanton Zug will Steuern in Bitcoin akzeptieren,...

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