News with the tag "SOUTH KOREA"

The article compares South Korea's tightly controlled CBDC approach with Japan's open stablecoin framework, highlighting their implications for investors and the broader adoption of blockchain technology in Asia.

Dunamu, the operator of South Korea's Upbit exchange, reported significant financial growth in the first half of the year, with notable increases in revenue, operating profit, and net profit, reflecting the strength of the South Korean crypto market.

Bithumb, a leading South Korean cryptocurrency exchange, will undergo a six-hour system maintenance on August 16, 2024, to enhance security and operational efficiency, temporarily halting trading and other functionalities.

The United States holds nearly 16 times more Bitcoin than South Korea, largely due to the introduction of US Bitcoin ETFs, which significantly increased American holdings.

South Korea's stringent currency controls, stemming from the 1997 Asian financial crisis, hinder the development and cross-border use of a won-backed stablecoin, limiting digital currency innovation in the country.

Upbit, a leading South Korean crypto exchange, has launched Upbit Custody, a dedicated institutional-grade crypto custody platform emphasizing offline storage and advanced security measures.

South Korea is advancing pro-business crypto reforms, including plans to build a digital asset ecosystem and develop the domestic crypto market, though the dissolution of the Financial Services Commission (FSC) remains unresolved.

Bitcoin's price in South Korea remains lower than global rates despite reaching an intraday peak of $122,208, with the price gap widening again after a brief premium period.

South Korea's first significant cryptocurrency donation was made to the Korean Red Cross, marking a milestone in the country's crypto philanthropy following recent regulatory changes.

A South Korean crypto exchange CEO was sentenced to four years in prison for leaking military secrets to a suspected North Korean agent, violating the National Security Act.