Korean Court Rules in Favor of Cryptocurrency Exchange Against Bank

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A South Korean district court has ruled that Nonghyup Bank, a major bank in the country, cannot block transactions to the account of cryptocurrency exchange Coinis based solely on the government’s anti-money laundering guidelines. This is reportedly the first time a Korean crypto exchange has taken legal action against a bank for blocking its transactions.…

South Korea Cracks Down on Unauthorized Cryptocurrency Funds

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South Korean financial regulators are cracking down on unauthorized cryptocurrency funds. In particular, one crypto fund launched by a local exchange is reportedly being investigated. The exchange claims no wrongdoing as its token activities were carried out overseas, but has promptly canceled its plan to launch a second fund. Also read: Yahoo! Japan Confirms Entrance Into…

Taiwan Drafting National ICO Standards

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The Taiwanese Financial Supervisory Commission is drafting a set of national standards for initial coin offerings. The regulator reportedly aims to make tokens as easy to invest and as liquid as stocks. The commission emphasizes that it “has no intention of curbing the creativity and productivity associated with cryptocurrencies if they are not used as…

Korean Government Details Regulatory Plans After Multiple Crypto Exchange Hacks

Korean Government Details Regulatory Plans After Multiple Crypto Exchange Hacks

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Following multiple hack reports, the South Korean government explains how it will strengthen the regulatory framework for cryptocurrency exchanges. A bill has already been submitted which imposes multiple new obligations on crypto exchanges. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Korean Government’s Solution Following recent reports of multiple security breaches at cryptocurrency exchanges,…

South Korea’s Largest Crypto Exchange Upbit Under Investigation for Fraud

South Korea’s Largest Crypto Exchange Upbit Under Investigation for Fraud

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The largest cryptocurrency exchange in South Korea, Upbit, is suspected of fraud and is currently under investigation. The prosecutors have conducted searches at the exchange and confiscated computers and accounting records. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Upbit Under Investigation South Korea’s largest cryptocurrency exchange, the Kakao-backed Upbit is suspected of fraud,…

South Korean Top Regulator Considers Easing Cryptocurrency Regulations

South Korean Top Regulator Considers Easing Cryptocurrency Regulations

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The main regulatory body of cryptocurrencies in South Korea has a new chief who has just been approved by the country’s president. He is a known “activist and reformist” and has reportedly announced that he will consider relaxing crypto regulations to help businesses grow in this sector. Also read: Yahoo! Japan Confirms Entrance Into the Crypto…