Crypto YouTuber Among Those Arrested for Allegedly Running $231,000,000 Fraud in Korea: Report

November 14, 2024 The Daily Hodl

Crypto YouTuber Among Those Arrested for Allegedly Running 1,000,000 Fraud in Korea: Report

Bitcoin

South Korean authorities have reportedly arrested 215 individuals who are allegedly behind a cryptocurrency investment scam that defrauded thousands of victims. Yonhap News reports that the suspected perpetrators, including a YouTuber with 620,000 subscribers, received 325.6 billion won, or around $231 million, from 15,304 people who were enticed to invest their money in crypto for […]

The post Crypto YouTuber Among Those Arrested for Allegedly Running $231,000,000 Fraud in Korea: Report appeared first on The Daily Hodl.

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Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Fireblocks partners with South Korean bank on VAT tokenization

November 14, 2024 Coin Telegraph

banking innovation

Fireblocks extends its services with the tokenization of tax refunds through NongHyup Bank.

Digital assets platform Fireblocks has signed a Memorandum of Understanding (MoU) with NongHyup Bank, a large South Korean bank specializing in commercial credit and banking services for the agricultural sector. They hope to launch a prototype for tax refunds.

Fireblocks and NongHyup Bank will use the Fireblocks Tokenization Engine in a pilot project to refund value-added tax (VAT) and goods and services tax (GST) on purchases at retail outlets. Fireblocks co-founder and CEO Michael Shaulov told Cointelegraph that they are looking to increase transparency and security. He said:

“This not only reduces operational costs but also ensures a secure, immutable record that strengthens trust between banks and their clients,” he added.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Bitcoin Premium in South Korea Rises: A Bullish Signal or Just Regional Dynamics?

November 4, 2024 Bitcoin.com

Bitcoin

Although bitcoin dipped below $70,000 earlier this week, South Korean markets still show a notable premium. On Oct. 24, the premium climbed as high as 2.21%, with today’s rate only slightly lower. South Korea’s Bitcoin Premium Bounces Back After October’s Brief Dip As of 4:45 p.m. EST, bitcoin is priced at $69,058, following a push […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Korea to Regulate Crypto Cross-Border Trade Next Year

October 26, 2024 Bitcoin.com

bitcoin.com

On Friday, South Korea’s finance ministry announced plans to regulate cross-border transactions of virtual assets, including cryptocurrency, starting in the second half of 2025. The new regulations will mandate that businesses engaged in cross-border virtual asset trade register with authorities and submit monthly transaction reports to the Bank of Korea. The move follows significant concerns […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

South Korea to ramp up oversight of cross-border crypto transactions: Report

October 25, 2024 Coin Telegraph

Coin Telegraph

South Korea’s finance minister, Choi Sang-Mok, said the country will introduce reporting mandates on cross-border crypto transactions to combat foreign exchange crime.

South Korea plans to increase oversight of cross-border transactions involving crypto in a bid to combat tax evasion and “foreign exchange” crimes, the country’s finance minister, Choi Sang-Mok, reportedly said at a G20 meeting in Washington.

Choi said South Korea will introduce a reporting mandate for any business that handles “cross border transactions” involving crypto assets, according to an Oct. 24 report from local Korean news outlet Edaily.

“We will promote preemptive monitoring of virtual asset transactions that are used for tax evasion and currency manipulation across borders,” said Choi.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Montenegro halts Do Kwon’s extradition again ahead of appeal ruling

October 18, 2024 Coin Telegraph

Bitcoin

Do Kwon’s extradition has been delayed again, to the surprise of the Justice Ministry.

The Constitutional Court of Montenegro suspended the extradition of former Terraform Labs founder and CEO Do Kwon on Oct. 18, according to local press reports. A day earlier, the Montenegrin Justice Ministry had said a decision on Kwon’s extradition had been made and it promised to make the decision public on Oct. 20.

The decision on Kwon’s extradition, including Kwon’s destination, was entrusted to the Justice Ministry by the Supreme Court in September. Both the United States and South Korea have requested his extradition.

The Constitutional Court had not informed the ministry of the suspension of that judgment until the last minute, the ministry said, adding:

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Compass Mining Partners With Mindshift to Expand Bitcoin Mining in South Korea

October 10, 2024 Bitcoin.com

affordable electricity

Compass Mining has announced a partnership with Mindshift, a licensed digital asset service provider in South Korea, to extend bitcoin mining services to the region. The collaboration aims to address challenges like high electricity costs while making bitcoin mining more accessible to South Korean residents. Compass Mining Collaborates With Mindshift The partnership between Compass Mining, […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

South Korea plans to regulate cross-border stablecoin transactions

October 8, 2024 Coin Telegraph

Coin Telegraph

South Korea’s Financial Services Commission plans to consult with other jurisdictions, including Japan and the EU, on stablecoin rules.

South Korea’s government plans to apply foreign exchange rules to cross-border transactions involving dollar-pegged stablecoins.

On Oct. 8, the country’s Ministry of Economy and Finance reportedly announced that it was reviewing measures to ensure the soundness of stablecoin transactions.

The government agency said that apart from being used to transact and exchange within the crypto ecosystem, stablecoins are also used in cross-border transactions. This means that stablecoin’s functions expand to global transfers, which may require different rules.

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Korean Exchange Bithumb Eyes Nasdaq Listing After Shelving KOSDAQ IPO Plans

October 1, 2024 Bitcoin.com

bitcoin.com

Bithumb, one of South Korea’s largest cryptocurrency exchanges, is considering a listing on the U.S. Nasdaq exchange after shelving its initial plans for an IPO on the South Korean KOSDAQ market. The decision was discussed during a shareholder meeting on September 30, 2024, as part of Bithumb’s strategy to expand into the U.S. market. The […]

Bitcoin ‘diamond hand’ sell-off risks outpacing ETF inflows at $98K

Crypto Exchange Bithumb Considering Public Listing on Nasdaq: Report

September 30, 2024 The Daily Hodl

Bithumb

South Korean crypto exchange Bithumb is reportedly telling shareholders that it is mulling a U.S. stock exchange listing. According to local outlet DNews, Bithumb told shareholders on Monday that South Korea’s second-largest crypto exchange by trading volume is mulling a Nasdaq listing. The exchange reportedly considered a similar move late last year for the Korean […]

The post Crypto Exchange Bithumb Considering Public Listing on Nasdaq: Report appeared first on The Daily Hodl.

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