South Korea Financial News

07.03 / 13:03

VISA MasterCard Russian Banks Look to China’s UnionPay after Visa, Mastercard Freezout

The American payments heavyweights Visa and Mastercard, as well as the card issuer American Express, have suspended their operations in Russia – joining an increasingly lengthy list of firms severing their trade links with the country. But Russian banks have indicated that they may look to domestic and Chinese alternatives to Western platforms.

05.03 / 04:03

Exchange Ukraine war ‘Big Four’ South Korean Crypto Exchanges Say They’ve Blocked Russian Users

All four major South Korean crypto exchanges say they will block users with Russian IP addresses “in line with sanctions” – despite the fact that their overseas counterparts have ruled out making such a move without direct instruction from governments.

04.03 / 17:36

Blockchain Metaverse Cointelegraph NFT Korean blockchain experts seek the government's help for digital asset market

The Korea Digital Asset Industry Committee comprising of leading Blockchain experts in South Korea has called for the formation of a government committee dedicated to helping and advancing digital asset businesses in the country.

03.03 / 21:51

business Donations Digital Currency Group Crypto Biz: Another billionaire admits he was wrong about Bitcoin, Feb. 25-Mar. 3

After spending years ridiculing Bitcoin and cryptocurrency, Wall Street’s billionaire class is finally warming up to the idea of virtual assets powering the digital economy. This week, Citadel founder and billionaire Ken Griffin formally backtracked on his anti-crypto stance as he announced that his firm would begin offering digital assets to its clients. Of course, Griffin isn’t the only wealthy investor to have a change of heart, so we’re not going to bust his chops too much.

03.03 / 19:43

Blockchain Gaming economics Bitcoin Mining Difficulty IRS Comes for Crypto John Does, Bitcoin Mining Difficulty Drops, Complex Apps on Algorand + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

03.03 / 06:41

crypto currency Crypto exchanges WOO Despite billion-dollar investment, why GameFi is failing to woo Asians?

Crypto industry is betting big on the GameFi industry with billions of dollars invested, but in the Asian market, the segment is likely to face a stiff and severe challenge, thanks to strict and rigid regulations in multiple countries. The existing laws and regulations are quite hostile for GameFi. Countries like South Korea and China have had laws about converting in-game tokens into fiat currency for nearly 15 years. In South Korea, gaming is a serious industry and has its own regulatory code — strictly prohibiting speculative acts, gambling and free gifts. Its laws prohibit converting game tokens into cash.

02.03 / 03:15

NFT Gaming Legal South Korean Court Rejects Challenge to Strict Crypto, NFT Gaming Law

South Korea’s Constitutional Court has upheld a law that blocks gamers from buying and selling crypto and non-fungible tokens (NFTs) – and seeks to punish those trading video game-related coins and items.

01.03 / 13:27

business regulation Taxes South Korean crypto market grows to $45.9B in 2021 despite strict regulations

South Korea’s crypto market grew to 55 trillion Won ($45.9 billion) by the end of 2021, as per a new study from the country’s chief financial regulator, the Financial Service Commission.

01.03 / 08:19

SEC Platform BitConnect BitConnect's Indicted Founder Satish Kumbhani Has Disappeared: Report

Last September, the U.S. market regulator had sued Satish Kumbhani.

01.03 / 08:07

business Funding Africa South African exchange raises $50M in Africa’s largest funding round

South African crypto exchange VALR has raised $50 million in a Series B equity funding round, marking the largest-ever funding for an African crypto exchange.

28.02 / 19:43

Blockchain Ethereum EBAY coinbase Power eBay's Crypto Teaser, UK Seeks More Power to Seize Crypto + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.

28.02 / 17:25

Digital Cooper Platform Discover All you need to know about this country’s $186M plan to become metaverse leader

South Korea is in the news today after it announced that it plans to support an expanded virtual world ecosystem with an investment of 223.7 billion won or $186 million. The translated document stated,

28.02 / 12:55

markets cryptocurrency Trading Bitcoin Bitcoin steady amid Ukraine conflict

prices are holding steady even as the Ukraine crisis shows no signs of easing, with Western nations imposing new sanctions on Russia after President Vladimir Putin refused to stop attacks on its neighbor.Bitcoin was trading at around $39,000, roughly where it started the weekend. It briefly edged above $40,000 on Saturday. Ether was down 3.4% at $2,732. The relative calm in crypto markets follows a global equities rally on Friday that saw the S&P 500 jump 2.2%. With Bitcoin's correlation with stocks near a record high, the trading points to a steady open for Asian equities on Monday — barring a sharp escalation of tensions between Russia and Western countries.

28.02 / 09:01

business NFT regulation National South Korea to invest $187M in national Metaverse

South Korea’s Ministry of ICT, Science, and Future Planning pledged 223.7 billion KRW ($186.7 million) to create a broad Metaverse ecosystem to support the growth of digital content and corporate growth within the country.

25.02 / 13:47

Blockchain Provident Digital Coinone These South Korean crypto firms are warming up to meet the FATF travel rule

South Korean regulatory watchdogs have made stance pretty clear with the new travel rule in place. No, not for COVID. As the regulatory landscape changed in Korea, crypto businesses had to proactively work with regulators to avoid forceful closures. The latest development makes the crypto scene in Korea more transparent.

24.02 / 17:51

Adoption Gold Bitcoin Digital gold narrative valid as long as MicroStrategy holds Bitcoin, says exec

As some industry executives have questioned Bitcoin (BTC) as being the digital gold amid a massive market crash on Thursday, other experts continued to support the digital gold narrative for now, or until whale investors like MicroStrategy cash out.

24.02 / 12:10

Dogecoin Ethereum Us Treasury Shiba Inu Bitcoin Crypto m-cap halves in less than 5 months to $1.5 trillion

The crypto market cap stood at $1.58 trillion on Thursday after Russia ordered military action in Ukraine as against the $3 trillion mark scaled in November 2021. In terms of value, the fall in the global crypto market-cap is higher than the GDP of countries like Australia, Spain, Saudi Arabia, South Korea, Mexico, Turkey, Netherlands and Indonesia.

22.02 / 04:43

regulation Exchange banking Returns More South Korean Crypto-to-Crypto Exchanges Hopeful of Making Fiat Returns

A group of South Korean crypto exchanges could be granted permission to resume crypto-to-fiat trading after a breakthrough banking deal last week – but opinions differ on whether the 23 exchanges currently trapped in crypto-to-crypto purgatory will escape before they are overwhelmed by financial pressures.

21.02 / 16:03

COST UPS Immunic Inflation Creeps Into Asia—‘My Salary Is the Same, but Everything Is More Expensive’

HONG KONG—Early warning signs of inflation are appearing in some parts of Asia, as higher energy and food prices start to bite in countries that recently seemed immune to cost pressures.

21.02 / 09:07

business ETF Investments KB Bank to launch South Korea’s first crypto investment fund

Kookmin Bank is preparing to become the first bank in South Korea to offer crypto investment products to retail investors.

18.02 / 13:05

Provident ETF NASDAQ Stock indices CSOP to List First Metaverse Concept ETF on HKEX

CSOP Asset Management Limited (CSOP) is set to launch Hong Kong’s first Metaverse exchange-traded fund (ETF) next Monday, February 21, according to the company’s disclosure document.

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