South Korea

10 Countries Actively Regulating Cryptocurrency Despite Global Crisis

</header> <strong>Despite the coronavirus pandemic and the resulting financial crisis, at least 10 countries have made announcements regarding cryptocurrency regulation since our last regulatory roundup. </strong><strong>They include Japan, Malaysia, Singapore, China, Spain, Germany, India, the Philippines, the U.S., and South Korea.</strong> Also read: IMF Declares Global Recession, 80 Countries Request Help, Trillions of Dollars Needed …

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Major South Korean Bank Prepares to Launch Crypto Services as Government Green-Lights Regulation

While You’re Under Quarantine, Check These Sites for Remote Crypto Jobs If you are on the lookout for a job in these pressing times, when the coronavirus pandemic has limited public movement and shut down businesses, it’s worth exploring opportunities to work from the relative safety of your home. The number … read more. The …

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Regulatory Roundup: Crypto Regulations Advance Despite Global Crisis, Cash Shortages, Bank Closures

</header> <strong>In this roundup, we cover crypto regulatory developments amid the global crisis effected by the coronavirus outbreak, bank closures, interest rate cuts, and plunging stock markets. Through it all, governments worldwide are still focusing on cryptocurrency regulation, including the U.S., South Korea, India, and Russia.</strong> Also read: Bitcoin Legal in India — Exchanges Resume …

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BTC Plunge, YouTube Ban & Other Challenges: Bad Crypto News of the Week

Bitcoin has been on a downward streak for the last week, down around 15 percent over the last seven days. That’s bad but it could be worse. You might have put your money in stocks. Some people, though, remain optimistic. RT’s Max Keiser predicts that the coronavirus will push Bitcoin up to $100,000, and JPMorgan’s …

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Revealed: How North Korea Laundered $100 Million of Stolen Crypto

Blockchain forensics firm CipherTrace has published a detailed analysis of how two Chinese nationals. associated with North Korea. laundered tens of millions of dollars worth of stolen cryptocurrency. The pair are believed to be associated with the shadowy Lazarus Group, which was behind the Sony breach in 2014, the WannaCry ransomware epidemic in 2017, and …

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Bithumb Partners With Chainalysis Amid Tightening Korean Regulations

On March 10, major South Korean cryptocurrency exchange Bithumb announced it has partnered with crypto forensics firm Chainanylsis following the passing of new Korean crypto regulations. Bithumb will employ Chainalysis’s “Reactor” investigations tool to examine suspicious activity on its platform in a bid to comply with Korea’s recently amended Special Financial Transactions Information Act. South …

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South Korea Passes Bill to Regulate Cryptocurrency in Line With FATF Standards

</header> <strong>South Korea’s National Assembly finally passed a bill that provides a framework for the regulation of cryptocurrencies and exchanges. Crypto service providers will be required to use the real-name verification system and comply with reporting requirements in line with the global cryptocurrency standards set by the Financial Action Task Force (FATF).</strong> Also read: Bitcoin …

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South Korean Lawmakers Greenlight Strict Crypto AML Bill

South Korean lawmakers voted Thursday to place tough new requirements on cryptocurrency exchanges, adding legitimacy to the country’s sprawling crypto economy – and potentially triggering a market consolidation down the road. As reported by CoinDesk Korea, the legislation – an amendment to Korea’s existing Financial Information Act – shores up South Korea’s anti-money-laundering (AML) and …

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Why Bitcoin Mining Might Be the New Business Model for US Power Plants

South Korea gets legal recognition for crypto, New York power plant mines BTC and the end of the intranet era for enterprise blockchain? It was another good day for global crypto as South Korea votes to formally integrate the industry into the existing financial system, opening the market to new players and potentially improving services …

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South Korea’s NH Bank Debuts Samsung-Backed Blockchain ID System

A major blockchain identification project backed by South Korean tech giant Samsung is being rolled out for first commercial use. South Korea’s NongHyup (NH) Bank has introduced a blockchain-based mobile ID system developed within a tech consortium established by major local firms including Samsung Electronics and LG Uplus. According to a Feb. 25 report by …

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