South Korea’s Bitcoin Trading Volumes on LocalBitcoins Reach New Record Levels

Bitcoin (BTC) trading volumes in South Korea have recently reached new levels on peer-to-peer (P2P) exchange LocalBitcoins, according to charts on BTC statistics service Coin Dance.

According to the data, bitcoin weekly trading volumes have surged over the past two weeks, with the latest week recording a new high of around 219 million South-Korean won ($185,000).

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Report: South Korean Crypto Exchanges Overtake Maltese Ones by Daily Trade Volume

Cryptocurrency exchanges registered in South Korea have overtaken their Maltese-registered counterparts by average daily trade volume in November. This is according to a report by cryptocurrency market data provider CryptoCompare, published Thursday, Dec. 6.

The November edition of CCCAGG, a monthly crypto exchange review published by CryptoCompare, shows that South Korean exchanges,

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South Africa and Crypto – a Conservatively Optimistic Approach

Blockchain and cryptocurrencies have proliferated the minds of millions across the world, as trading and crypto asset ownership continues to rise.

In the same breathe, many countries across the world have taken a tough stance against cryptocurrencies in particular. Some, like China, have outlawed their use, while others like Malta are at the forefront of cryptocurrency and blockchain development.

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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) held in Seoul Thursday,

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‘Treasure Ship’ ICO Dupes Investors – South Korea Asks Interpol for Help

News

South Korean police have asked Interpol for help with an investigation into the fraudulent token sale of Shinil Gold Coins that were claimed to be backed by the “treasure” on the sunken Dmitrii Donskoi. Local media reported that the sale raised an estimated $53.5 million from about 124,000 investors.

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South Korea's Financial Watchdog Calls for Integrated Blockchain System for Stock Trading

South Korea’s Financial Supervisory Service (FSS) has advised local regulatory agencies and companies to work towards developing an integrated blockchain system for stock transactions, according to an official report published August 2.

The FSS undertook a detailed analysis of international stock exchange operators’ use of blockchain technology to date, focusing on existing initiatives in the U.S.,

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South Korea Plans to End Major Tax Benefits for Bitcoin Exchanges

South Korea Plans to End Major Tax Benefits for Bitcoin Exchanges

Taxes

The South Korean government has announced a new set of tax law amendments. Under this proposal, bitcoin exchanges will no longer be eligible for income and corporate tax deductions currently enjoyed by small and medium-sized businesses. The regulators have also been considering imposing capital gains tax on the sale of cryptocurrencies.

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South Korean Regulator Presses Lawmakers to Pass Crypto Bill Urgently

Regulation

South Korea’s top financial regulator has urged lawmakers to pass the country’s first crypto bill quickly, citing the urgent need from rising incidents at crypto exchanges. There are currently several crypto-related laws pending at the National Assembly.

Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space

Crypto Law Urgently Needed

South Korean Regulator Presses Lawmakers to Pass Crypto Bill UrgentlySouth Korea’s top financial regulator,

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Binance Will Face Tough Competition in South Korea in New Market Expansion


Binance, the world’s largest cryptocurrency exchange, is planning an expansion into South Korea, the third biggest cryptocurrency market behind Japan and the US.

South Korea’s Unique Market Structure

In South Korea, two major digital asset trading platforms have had dominance over the crypto exchange market for several years.

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Binance Prepares to Enter the South Korean Market

Binance Prepares to Enter the South Korean Market

Exchanges

Binance is preparing to expand into South Korea, having already hired Koreans for some local positions. CEO Changpeng Zhao has stressed the importance of the Korean market, noting that some Koreans are already using Binance, especially to trade newer coins. However, the exchange is reportedly waiting for the country’s crypto regulatory framework to be fine-tuned before actually launching.

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Binance Plans to Expand Into South Korea

Cryptocurrency exchange Binance is making plans to expand operations into South Korea, reports Business Korea.

Per the report, Binance CEO Changpeng Zhao hinted at his company’s expansion plans while speaking at the Blockchain Partners Summit in Seoul last weekend.

While South Korea is presumed to be the third-largest crypto market after the U.S.

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South Korean Telecoms Giant KT Has Built Its Own Blockchain

KT Corporation, one of the two largest telecoms companies in South Korea, has launched a proprietary blockchain network, aiming to apply the technology across areas including ID verification, data roaming and energy trading.

According to a report from CoinDesk Korea, the firm revealed its KT Network Blockchain on Tuesday, boasting a throughput of 2,500 transactions per second (TPS) thanks to an integration with its existing high-speed commercial network.

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South Korea’s Crypto Regulation Shakeup: New Bureau, Agreement With China

Regulation

South Korea’s top financial regulator is planning a major organizational restructuring that includes introducing some new crypto policy initiatives. A bureau dedicated to financial innovations that include cryptocurrencies is being set up. In addition, an agreement with Chinese authorities relating to crypto and initial coin offerings has also been reached.

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