The South Korean cryptocurrency market is surging as daily Bitcoin (BTC) trading volume in the country has jumped by 10-15% in the past two days. Seoul-based crypto exchange Bithumb has processed over $666,658,444 in BTC-KRW (Korean Won) trading in the past 24 hours, according to data by CoinMarketCap. Total cryptocurrency trades for the exchange have…

Korean police are investigating a cryptocurrency startup claiming to be selling treasure from a sunken ship, the Korea Joongang Daily reported Tuesday. Authorities are reportedly looking into Shinil Group, which claims to have found a Russian shipwreck from the early 1900s, for possible fraud charges. The company launched its own cryptocurrency, which investors bought with…

Park Won-soon, the Mayor of South Korean Capital Seoul, has announced intentions to pursue the development of blockchain technology in the city. Won-soon stated that there will be a digital currency created for use in Seoul, as well as the setting up of groups dedicated to exploring blockchain technologies and their future implications. Korea Re-Embraces…


The South Korean Financial Services Commission (FSC) has aired plans to encourage the use of blockchain technology in new payment systems aimed to better protect user information. According to Korea JoongAng Daily, the FSC will introduce new regulations to open the doors for banks and insurance companies to protect customer data and simplify verification processes with…


Bithumb, South Korea’s largest cryptocurrency exchange, has partnered with major cryptocurrency payment processor BitPay to facilitate international remittance payments. US and South Korea Sonny Singh of Bitpay, the chief commercial officer at BitPay, stated that the company is on track to process $4 billion worth of transactions in 2018, and the team is focused on…


The head of South Korea’s financial regulator and watchdog has now confirmed the government will support cryptocurrency trading while encouraging banks to facilitate transactions with exchanges, effectively killing any fears of a rumored ban. In noteworthy remarks made today, South Korea’s Financial Supervisory Service (FSS) chief Choe Heung-sik said the government will back the cryptocurrency…


South Korea Finance Minister Kim Dong-yeon has reaffirmed that the government will not ban or otherwise “suppress” cryptocurrency in the country, according to a statement reported by Reuters today, Jan. 31. In the latest update to the country’s ongoing regulatory overhaul of cryptocurrency exchange, Kim firmly distanced Seoul from previous comments about a potential outright…


Popular cryptocurrency bitcoin traded modestly lower Tuesday in subdued trading on the day that more stringent rules in mega-market South Korea go into effect. Spot bitcoin prices BTCUSD, -7.27%  slid 1.6% to $10,983.46, and ether coins on the Ethereum blockchain fell 0.7% to $1,174.54, according to prices on research and data site CoinDesk. Bitcoin and…


SEOUL — Investors in South Korea are calling for the government not to meddle in the markets after its threatening messages on cryptocurrencies caused a crash in the value of bitcoin and other virtual currencies. By Wednesday afternoon, more than 210,000 people signed an online petition asking President Moon Jae-In’s government to halt efforts to…

Earlier today, as South Korean mainstream media outlet Hankyoreh reported, the South Korean government’s planned regulations around bitcoin and the cryptocurrency market have been leaked. Cryptocurrency-related regulations drafted during an emergency meeting held on Wednesday by the South Korean government leaked Translated at CCN, the four leaked regulations expected to be implemented by the end…


South Korea’s central bank has called an emergency meeting to discuss cryptocurrencies as bitcoin speculation sweeps the country. Reuters reported Tuesday that officials are not saying exactly what will be on the table at the meeting. But policymakers in the country have been called upon to regulate cryptocurrency markets because of ongoing volatility, saying that trading in it has created…