Tag Archives: south korea

South Korea’s national policy committee, part of the country’s National Assembly, has reportedly passed a bill which categorizes cryptocurrencies as digital assets. The move will supposedly pave the way for businesses and sets rules and requirements for their further operation.Cryptocurrency Bill Passes Korea’s National Policy CommitteeAccording to a report from local media Korea JoongAng Daily, the National Assembly’s national policy committee of South Korea has passed a bill which...

It seems like Ponzi schemes and fraud are a recurring event in the cryptocurrency space, and one exchange in South Korea known as Coin Up is the latest venture to allegedly try its hand at stealing people’s crypto.Coin Up: A Wolf In Sheep’s ClothingThe CEO of Coin Up, as well as several additional executives who worked with the company, have been found guilty in a Korean court of defrauding users out of nearly $385 million in digital currency funds. All those tried have been given sentences...

U.S. federal prosecutors have indicted a South Korean national behind the world’s largest darknet child sexual exploitation site that was primarily funded using bitcoin. The website known as ‘Welcome to Video’ was being run by 23-year old Jong Woo Son. The South Korean national is currently serving a prison sentence in his home country for the same crimes. Per the unsealed indictment, Son was arrested in March last year. His website only dealt in child sexual exploitation videos allowing...

China’s long-fabled “cryptocurrency” launch is finally on the horizon. According to Bloomberg, People’s Bank of China (PBoC) payments department deputy director Mu Changchun confirmed at the China Finance 40 Forum that the country’s cryptocurrency is nearing its release following a year of research and development. Given Beijing’s history of antagonism toward decentralized cryptocurrencies, what does the impending launch of a PBoC-approved digital currency mean for bitcoin? China’s...