KoreaTimes - Cryptocurrency

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Cryptocurrency

Sun, June 4, 2023 | 16:56

Crypto exchanges suffer earnings falls amid rate hikes, freezing sentiment

Crypto exchanges suffer earnings falls amid rate hikes, freezing sentiment

Korea's cryptocurrency exchanges reported drastic earnings falls in the first half of this year, hit hard by freezing investor sentiment amid global monetary tightening. According to data from the Financial Supervisory Service (FSS), Dunamu reported 785 billion won in sales during the same period, down 61.3 percent from a year ago when the crypto investment boom reached its p...

Lee Min-hyung | 2022-08-31 08:41

Will Coinone increase market share with KakaoBank?

Will Coinone increase market share with KakaoBank?

Coinone, the nation's third-largest cryptocurrency exchange, is seeking a fresh breakthrough in a partnership with KakaoBank amid bearish market sentiment. Under the partnership, the internet-only bank will offer real-name accounts for Coinone users. The exchange aims to attract more investors, as Dunamu - the operator of the largest crypto exchange here, Upbit - did after cl...

Lee Min-hyung | 2022-08-30 16:48

Customs inspection turns up illegal cryptocurrency transactions worth $2 bil.

Customs inspection turns up illegal cryptocurrency transactions worth $2 bil.

Seoul Regional Customs uncovered a total 2.7 trillion won ($2 billion) worth of illegal foreign exchange transactions related to cryptocurrency trading during its special inspections, the agency announced Wednesday. The special inspections focusing on cryptocurrency-related illegal foreign exchange transactions began in February. Most of the foreign exchange violations caught...

Anna J. Park | 2022-08-30 15:57

16 overseas crypto exchanges engage in illegal sales activities in Korea

16 overseas crypto exchanges engage in illegal sales activities in Korea

Overseas cryptocurrency exchanges are engaging in illegal sales activities here without reporting their businesses to financial watchdogs. According to the Korea Financial Intelligence Unit, a total of 16 foreign crypto exchanges _ such as MEXC and KuCoin _ have allegedly violated the Financial Information Act by continuously operating their businesses without meeting the req...

Lee Min-hyung | 2022-08-25 08:20

Bitcoin feared to hit bottom again amid Fed's hawkish pivot

Bitcoin feared to hit bottom again amid Fed's hawkish pivot

It is feared that major cryptocurrencies might tumble to a new low this year again amid diminishing investor sentiment after the U.S. Fed reiterated its hawkish pivot. Prices of Bitcoin and Ethereum hit the bottom in June and have since shown signs of recovery on then-reviving sentiment, with investors now expecting the Fed to slow down the pace of monetary tightening.

Lee Min-hyung | 2022-08-23 15:54

Authorities to ban access to unauthorized foreign crypto exchanges

Authorities to ban access to unauthorized foreign crypto exchanges

The Korea Financial Intelligence Unit (KoFIU) has urged caution on the part of local clients of overseas cryptocurrency exchanges to verify whether they have been registered under the Korean financial authority. The KoFIU announced a total of 16 virtual asset service providers (VASPs) on Thursday, which had failed to register themselves with the financial authority, and are t...

Anna J. Park | 2022-08-18 16:21

FIU requests probe into 16 foreign digital asset exchange operators for unreported biz activities

FIU requests probe into 16 foreign digital asset exchange operators for unreported biz activities

South Korea's financial watchdog said Thursday it has asked law enforcement authorities to investigate 16 foreign digital asset exchange operators for their unreported business activities.

2022-08-18 14:37

Bitcoin's role expected to expand as investors circumvent capital controls: Bithumb research chief

Bitcoin's role expected to expand as investors circumvent capital controls: Bithumb research chief

More people will have a stronger interest in Bitcoin and other forms of commodity-backed currencies, as the United States has been gesturing that it wishes gradually to lessen its role as “the world's police,” a crypto expert based in Seoul said. “As was shown in the war between Russia and Ukraine, the U.S. has strategically shifted its long-standing position by reducing its ...

Lee Min-hyung | 2022-08-17 09:00

Do Kwon says he will cooperate with investigation

Do Kwon says he will cooperate with investigation

Do Kwon, the co-founder of Terraform Labs, has shared his plan to cooperate with the ongoing investigation by the Korean prosecution, but declined to confirm when it will be, citing no charges have been brought against him over the collapse of the Terra-Luna cryptocurrencies. Kwon has made no public appearances since the Terra stablecoin and its sister token plummeted in May,...

Lee Min-hyung | 2022-08-16 15:51

Ethereum founder expects crypto payments to become prevalent soon

Ethereum founder expects crypto payments to become prevalent soon

Cryptocurrency moguls here and abroad shared their vision on blockchain technology during Asia's largest fair which kicked off its two-day run in Seoul, Monday. The Korea Blockchain Week 2022, co-hosted by FactBlock and Hashed, is an annual event that has taken place since 2018. For this year, a group of crypto magnates, such as Ethereum founder Vitalik Buterin and Binance CE...

Lee Min-hyung | 2022-08-08 16:12

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