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Tag Archives: Korea

US and South Korea to Strengthen Joint Cooperation on Fourth Industrial Revolution

The US State Department and South Korea’s Ministry of Science and Technology (MSIT) have resolved to strengthen the two countries’ cooperation in advancing the Fourth Industrial Revolution, at a press conference held in Seoul today, June 22. The so-called Fourth Industrial Revolution has been characterized by the World Economic Forum (WEF) as a series of technological breakthroughs that “will fundamentally ...

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Korea to Hasten Crypto Regulation After Country’s Biggest Exchange Hack

The government of South Korea has already announced that it will regulate cryptocurrency exchanges like banks, with stricter regulations. The recent Bithumb hack will fasten the process of implementing the country’s first cryptocurrency regulatory framework. Investors Shocked Previously, on June 11, CCN reported that after months of discussion, the government of South Korea and local financial agencies including the Korea ...

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Ubcoin Market To Open Offices in Singapore, Hong Kong, and South Korea

Ubcoin blockchain Ebay-like ecosystem for selling and buying real goods with cryptocurrency is expanding its presence in the Asian market By the end of 2018, the mobile payments app Ubank is planning to open offices in Singapore, Hong Kong, and Seoul to promote its global blockchain goods-to-crypto exchange platform Ubcoin Market in the region and to implement the market launch ...

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Bank of Korea Opposes Central Bank Digital Currency

Open Positions at CCN: Full Time and Part Time Journalists Wanted. The Bank of Korea (BoK) has revealed it is against the idea of issuing a central bank digital currency following a feasibility review. South Korea’s central bank isn’t keen on issuing a central bank digital currency (CBDC) citing concerns related to its impact on the basic mechanics of monetary ...

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Authorities Admit Korea Postponed Cryptocurrency Regulation Because it Legitimizes Market

Open Positions at CCN: Full Time and Part Time Journalists Wanted. Authorities have admitted that the South Korean government had postponed the regulation of the cryptocurrency sector because it feared consumers will acknowledge it as the government legitimizing the cryptocurrency market. Government is Aware Regulation Will Legitimize Market Last week, CCN reported that the government of South Korea and its ...

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PotCoin Makes Special Appearance at North Korea Summit

Just two or three years ago, the headlines and events involving cryptocurrency that currently take place worldwide could not have been imagined. When PotCoin caught everyone’s attention for its appearance at the recent summit between leaders of the USA and North Korea days ago, it was certainly one such instance. Dennis Rodman arrived in Singapore on June 11 dawning a ...

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Investors Concerned About Dozens of New Crypto Exchanges in Korea as Hacks Emerge

This week, Hankyung, a major mainstream media outlet in South Korea, reported that dozens of new cryptocurrency exchanges are set to launch in the country in the next few months with a primary focus on integrating new digital assets. Integration First, Security Second Over the past three months, Huobi Korea, Cashierest, Coincom, Coinworld, UIOEX, Genix, Daybit, OKCoin Korea, Allbit, and ...

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South Korea to Develop ‘Crypto Beach’, Modelled After Switzerland’s ‘Crypto Valley’

South Korea has revealed plans to launch a blockchain center in Busan city modeled on the Swiss Crypto Valley, local news outlet Edaily reported June 14. At a recent blockchain event in Seoul “2018 Global Blockchain Conference,” chairman of the Korea ICT Financial Convergence Association Oh Jung-geun claimed that the organization seeks to build a space similar to the “Crypto ...

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New Partnership Announced Between Korea University and Huobi Subsidiary

Korea University is teaming up with the South Korean subsidiary of crypto exchange Huobi for “industry-academia” cooperation in the field of blockchain development, Seoul Daily reports, June 12. The agreement between one of South Korea’s most prestigious universities and Huobi Korea seeks to bridge academic research of the innovative technology with products useful for the industry. According to Seoul Daily, ...

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Korea Will Regulate Cryptocurrency Exchanges Like Commercial Banks

Get exclusive fiat and cryptocurrency analysis on Hacked.com for just $39 per month. Click here now! The Korea Financial Intelligence Unit (KFIU) and other local financial agencies will regulate cryptocurrency exchanges like banks, imposing strict anti-money laundering (AML) policies to ensure criminals do not utilize cryptocurrencies to finance illicit operations. Similar to Japan During the Policy Advisory Council meeting held ...

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