Tag Archives: south korea

CRV – the native token of the DeFi exchange Curve Finance – has plunged over 12% following the recent exploit on several stable pools of the project. However, the token’s price took a somewhat interesting trajectory on the leading South Korean cryptocurrency exchanges Bithumb and CoinOne, currently trading at a 510% and a 220% premium, respectively. Separately, Upbit (another major Korean digital asset platform) paused CRV deposits and withdrawals shortly after the latest...

South Korean digital asset savings and lending firm Delio has plunged into a deeper crisis more than a month after suspending user withdrawals. The authorities seized Delio’s assets on July 18th, which reportedly disrupted its operations. According to the latest update, the actions by the South Korean regulator have made it “difficult for the company to provide normal services.” It also highlighted the need to prevent the scattering of the platform’s property in the interest...

CoinspeakerSouth Korea Floats New Crypto Rules to Promote Transparency According to the FSC, the main aim of the proposed new rules is to encourage firms to have accounting transparency. South Korea Floats New Crypto Rules to Promote Transparency

The leading South Korean cryptocurrency exchange – Upbit – has recorded a trading volume of more than $350 million for the Bitcoin Cash (BCH)/Korean Won (KRW) pair for the past 24 hours. In comparison, trades involving Bitcoin (BTC) have been three times less. BCH has been among the best performers in the crypto market lately, with its USD valuation up over 180% for the past two weeks. BCH Grabs the Attention of Koreans  As revealed by Wu Blockchain, BCH/KRW trades on South...

Haru Invest – a South Korean platform that provides various options to invest in cryptocurrencies – will reportedly lay off more than 100 members of its workforce. The layoffs will become official on June 23. The decision comes several days after the company suspended deposits and withdrawals due to an issue with one of its service providers.  According to recent coverage, Haru Invest terminated the contracts of over 100 staff members. They received the news from CEO...

The authorities of Montenegro reportedly consider extending Do Kwon’s custody in the country for another six months before taking an official decision on his possible extradition. The homeland of Terraform Labs’ co-founder – South Korea – and the world’s biggest economy – the United States of America – have both requested his deportation. The Montenegrin police arrested the 31-year-old developer in March this year after he was supposedly on the run for several months,...

Delio, a major South Korean cryptocurrency lending platform, has suspended withdrawals temporarily on its platform, claiming that the measure was taken in connection with another local crypto company, Haru Invest, which recently did the same. The crypto lender stated that the decision to suspend withdrawals was unavoidable. Delio’s Exposure to Haru Invest In a notice to customers, Delio announced that it will temporarily suspend withdrawals starting from June 14. According to...

Dan Sunghan – Director of the Financial Crime Investigation Bureau at the Seoul Southern District Prosecution Service – claimed that the former crypto mogul Do Kwon had moved nearly $30 million in digital currencies to an unknown wallet shortly after his arrest in Montenegro. The 31-year-old South Korean has faced huge criticism and was blamed for having a hand in the massive LUNA/USD collapse last year that triggered multi-billion investor losses. He allegedly spent several...

South Korea’s National Assembly has officially passed a bill into law requiring lawmakers and high-ranking government officials to disclose their crypto asset holdings.  The new law is a response to a recent scandal involving a politician allegedly violating campaign finance laws using cryptocurrency.  The “Kim Nam-guk Prevention Law” According to a report from local news agency News1, the relevant amendments to the National Assembly Act and Public Service Ethics Act passed...

South Korea’s ruling party has called for early enforcement of the law that seeks the country’s lawmakers and high-level government officials to declare their cryptocurrency-related assets. The proposed bill would require local officials and lawmakers to declare all personal crypto holdings over 1 million Korean won (worth around $760). The move was prompted by a major crypto scandal involving a former lawmaker of the opposing party. Calls to Expedite Bill A report by Yonhap...