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Tag Archives: Korean

South Korean Ministry Drops Cryptocurrency Exchanges From Venture Enterprise Classification

The government of South Korea announced it had excluded cryptocurrency exchanges from legislation governing venture businesses in a press release issued Monday, August 13. The brief document from the country’s Ministry of Small and medium-sized enterprises (SMEs) and Startups (MSS) explained that contrary to previous decisions, it would now place exchanges alongside bars and nightclubs as businesses that it would ...

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South Korean Government to Promote Blockchain Training as Part of ‘4th Industrial Revolution’

South Korea’s Ministry of Science and ICT will promote the training of blockchain technology as part of an effort to prepare young people for what it calls the “Fourth Industrial Revolution.” Blockchain technology is included in courses that have recently been announced by the Ministry of Science and ICT. The Ministry of Science and ICT believes the country faces a ...

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‘Big Four’ South Korean Bank Enters Blockchain Pact with Telecom Giant KT

South Korea’s second-largest bank Shinhan Bank has entered into a partnership with the country’s second-largest telecoms provider KT Corp for the purpose of developing a new blockchain-based platform. The Korea Times reports that the new platform is intended to build on recent moves by regional governments across the country to introduce digital vouchers. Useful Competencies In July, CCN reported that ...

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Korean Blockchain Regulation & Crypto Regulation

Last month, the Korea Blockchain Enterprise Promotion Association was established. While the association is still relatively new, it’s already making major moves. This week, the association called for not only Korean crypto regulation but Korean blockchain regulation as well. Here’s what we know. Korean Crypto Regulation and Korean Blockchain Regulation On August 8th, the Korea Joongang Daily reported that the Korea Blockchain ...

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South Korean Biotech Firm to Use Blockchain for Genomic Big Data Ecosystem

Public South Korean biotech enterprise Macrogen, the country’s leading gene sequencing service provider, is developing a genomic big data blockchain-based platform together with local tech firm Bigster, according to an August 6 press release. The new partnership will leverage blockchain tech to create a medical big data ecosystem that would allow for both the secure and private storage and the ...

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South Korean Crypto Exchange Bithumb to Reopen Withdrawals, Deposits for Nine Cryptos

South Korea‘s leading virtual currency exchange Bithumb is set to reopen withdrawals and deposits today, according to an official announcement August 4.   The world’s twelfth largest cryptocurrency exchange by trade volume noted that the time for resuming withdrawals and deposits has been moved from August 4 at 11 a.m. [Korea Standard Time] to 7 p.m. [KST]. In a separate ...

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South Korean Crypto Exchange Bithumb Re-opens Deposits & Withdrawals

South Korean cryptocurrency exchange Bithumb will resume deposit and withdrawal services on Saturday at 11 am KST. The exchange had suspended all deposits and withdrawal services on its platform following the June hack on a hot wallet, which led to the loss of tokens valued at over $30 million. Hacked Crypto Exchange Bithumb Unfreezes Withdrawals The exchange made the announcement ...

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