South Korea Financial News

The core principles of cryptocurrency were based on financial independence, decentralization and anonymity. With regulations being the key to mass adoption, however, the privacy aspect of the crypto market seems to be in jeopardy.

American web services provider Yahoo has announced that it is launching a series of metaverse activities in Hong Kong.

Korea's leading exchanges have agreed to form a new emergency system that will spring into action within 24 hours should another Terra-style collapse threaten to come to pass.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

The South Korean government and financial regulators appear keen to ensure that May’s Terra ecosystem crash – an event they have dubbed the “terra/LUNA incident” – will become a watershed moment for the crypto sector, with a slew of new regulations incoming. The new head of a leading regulatory body led those vowing to implement changes, calling for the creation of a system that provides investors with more “fairness.”

From the look of things, the MimbleWimble Extension Blocks (MWEB) implemented on Litecoin’s Network have failed to provide the much-required succor for the Network’s LTC token. The MWEB upgrade was implemented to enhance the user experience by providing users the option to make confidential transactions on the Litecoin network.

SEOUL—A weeklong trucker strike in South Korea over fuel costs and wages is tying up supply chains in one of Asia’s export powerhouses.

Crypto exchange Binance announced they are ending support for Litecoin (LTC) transactions sent through the latest MimbleWimble (MWEB) upgrade.

Do Kwon pleads his innocence on his twitter feed after latest reports condemn him for cashing out $2.7 billion. The Terraform Labs CEO is already facing an investigation from the SEC and South Korean police. He is now at the heart of a latest crypto community backlash.

Terra blockchain launched a new digital token to compensate investors burned by one of crypto’s biggest busts, the blows have kept coming. Luna 2.0, as the coin is known, emerged out of the ashes of crypto entrepreneur Do Kwon’s ecosystem, which collapsed after the TerraUSD algorithmic stablecoin at the center of it dropped from its dollar peg in early May. But any hopes of a quick recovery for investors who lost billions of dollars in the crash are fading, with the token losing more than half of its value in the past week alone, based on data from CoinGecko. Scrutiny from securities regulators in the US and police in South Korea is adding to the woes. The US Securities and Exchange Commission is investigating whether the marketing of TerraUSD violated federal investor-protection regulations, Bloomberg News reported Thursday. In Seoul, police are examining allegations that staff of Luna backer Terraform Labs embezzled Bitcoin holdings amassed to help defend TerraUSD’s peg to the dollar.

Failed Terra blockchain relaunches into a new token, but the blows have kept coming

South Korea’s OK Financial Group – one of the nation’s biggest moneylenders and savings banking services providers – has unveiled plans to create a cryptoasset. The company will become one of a growing cohort of firms that are hoping to launch tokens, and this appears to indicate that the days of the nationwide ban on initial coin offerings (ICOs) may be numbered.

Reports that Terra (LUNA2) founder Do Kwon allegedly withdrew $80 million monthly before the project crashed surfaced Friday, leading members of the community to voice their opinions on the matter.

This past week, the decentralized finance (DeFi) ecosystem was ruled by decentralized autonomous organizations and new fund launches for the growth of the Web3 ecosystem. The total number of DAOs surged by eight times while Solana launched a $100 million DeFi fund.

The U.S Securities and Exchange Commission has launched an investigation into the Terra crash. The Terra explosion is one of the biggest busts in the crypto history. The probe also investigates the marketing of the native TerraUSD token.

Solana (SOL) is nearing a decisive breakdown moment as it inches towards the apex of its prevailing "descending triangle" pattern.

Hong Kong-based Samsung Asset Management (SAMHK), a local subsidiary of Samsung’s investment arm, is moving forward with a blockchain-themed exchange-traded fund (ETF).

American regulators have waded into the aftermath of the terraUSD (UST) crash last month – and the coin's operators could face trouble at the hands of United States courts and the Securities and Exchange Commission (SEC).

Litecoin (LTC) is on the spotlight once again days after launching its Mimblewimble upgrade  and for a related reason. Multiple South Korean crypto exchanges have reportedly announced plans to delist LTC.

The United States Court of Appeals for the Second Circuit on Thursday rejected Terraform Labs CEO Do Kwon’s dispute of a subpoena by the Securities and Exchange Commission (SEC). The federal agency was seeking documents and testimony in connection with its investigation of whether Terra used the Mirror Protocol to sell unregistered securities.

Terraform Labs, the parent company behind the collapsed Terra ecosystem, is currently under multiple investigations from the South Korean authorities.