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Tag Archives: South

South Korean Gov’t Pledges Support for Blockchain Startups to Facilitate Industry Growth

The Korean Ministry of Science and Information Communications Technology (MSICT) has pledged further support to facilitate the growth of the domestic blockchain industry, Business Korea reported September 21. Second Minister of Science and ICT Min Won-ki held a meeting with blockchain startups as part of the government’s effort to establish contact with organizations in what it has dubbed the 10 ...

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Kidnapped South African Tycoon Released for 50 Bitcoins Ransom: Report

A South African businessman whose captors had allegedly demanded bitcoins as ransom has been freed. Liyaqat Parker, a businessman based in Cape Town, South Africa, was released on Monday according to a statement issued by his family. However, the circumstances of his release, including whether the bitcoin ransom was paid, remain unclear as his family declined to divulge further information. ...

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Plus Token and WBF Jointly Started the Global Startup Conference, the First Stop in South Korea Was Grandly Held.

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South Korean Police, FBI Bust International XRP Phishing Scam

A phishing scam which stole over $800,000 worth of XRP from dozens of victims in South Korea and Japan has been busted in a joint operation between the Seoul police cybercrimes division and the FBI. Two people have been arrested so far in relation to the operation, a computer programmer and his employer, according to a local report. It is ...

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South Africa’s Central Bank Wins Award for its Ethereum Payments Blockchain

Central Banking, a global central banking forum, has bestowed its FinTech & RegTech Award for Best Distributed Ledger Initiative to South Africa’s central bank for its successful Project Khokha, which successfully used an Ethereum blockchain platform to process interbank payments and settlements. The test demonstrated that distributed ledger technology (DLT) can enable digital as opposed to analog transaction processing, offering ...

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South Korean Official Proposes Greater Cooperation for Global Crypto Regulation

An official from South Korea’s Financial Supervisory Service (FSS) has proposed greater international cooperation between regulators for crypto and Initial Coin Offering (ICO) regulation, local news outlet Asian Economic TV reports Friday, September 7. Yoon Suk-heun, governor of FSS, made a statement about the potential for more cooperation during the opening ceremony of the 20th Integrated Financial Supervisors Conference (IFSC) ...

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Belarus Seeks South Korean Investors Interested in Blockchain and Fintech

Belarusian diplomats are seeking South Korean investors for the country’s growing blockchain and fintech industry, Korea JoongAng Daily reported September 6. During a visit to Seoul on Tuesday, the deputy foreign minister of Belarus Andrei Dapkiunas reportedly stated that Belarus endeavors to establish relations with Korean investors interested in “fourth industrial revolution” technologies, including blockchain and artificial intelligence (AI). In ...

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South Korea Post Service Seeks Crypto ‘Know-How’ From Goldman Sachs

South Korea’s national postal service Korea Post (KP) will meet with Goldman Sachs executives to gain “know-how” about cryptocurrencies, Bloomberg reported Wednesday, September 5. The service, which oversees an investment fund of $112 billion, said a meeting about crypto had already taken place with Goldman’s incoming chief executive, David Solomon, in New York. Speaking to the Bloomberg in an interview, ...

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South Korea Internet and Security Agency to Double Blockchain Project Budget in 2019

The Korea Internet and Security Agency (KISA), a sub-organization of the South Korean Ministry of Science and ICT, has announced plans to expand public blockchain pilot projects to revitalize the domestic blockchain market, ZDNet Korea reports September 4. The South Korean government plans to spend about $9 million to spread blockchain projects throughout public and private sectors. This year, the ...

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Over US$8 Million Lost by 2,600 Investors in South Korea’s ‘Treasure Ship’ ICO

Millions of dollars are estimated to have been sunk by investors seeking a piece of the ‘Russian treasure ship’ ICO fronted by a South Korean ‘treasure-hunting’ firm. According to South Korean police, it has been tentatively concluded that about 2,600 people invested around 9 billion won or slightly over US$8 million in Shinil Group which claimed to have discovered a ...

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