Tag Archives: Regional News

South Korean Police Did Not Raid Cryptocurrency Exchanges, FUD Triggers Market

This week, several Western mainstream media outlets have falsely reported that South Korean cryptocurrency exchanges were “raided” by local police and authorities. More inaccurate reports regarding the current state of the South Korean cryptocurrency exchange market led the entire cryptocurrency market to decline in value, demonstrating a similar effect to that (more…)

South Korean Investor Brags About $24 Million Bitcoin Profit, Government Now Chasing Taxes

On January 9, MoneyToday, one of the most widely read finance and business news publications in South Korea, reported that a South Korean investor has made a $22 million profit off a $90 investment in bitcoin he likely made in 2011. For a $90 investment to turn into $22 million, the (more…)

South Korean Cryptocurrency Mania: Exchanges are Adding More Employees Than Banks

South Korean cryptocurrency exchanges including Bithumb, Coinone, and Korbit are adding more employees than banks and financial institutions, local mainstream news networks have reported. YTN, one of South Korea’s largest mainstream media outlets, revealed that Bithumb, which processes more than $2.6 billion worth of cryptocurrency trades on a daily basis, has (more…)

South Korea’s Bitcoin Regulation is Highly Optimistic, False Reports Claim Ban

Over the past 24 hours, a series of false reports from news publications including Reuters have claimed that the South Korean government is planning on banning or closing down cryptocurrency exchanges. An initial report from Reuters, which has since been corrected, stated that the South Korean government is expected to close (more…)

South Korean Minister’s “Bitcoin is Corrupting Kids” Logic is Flawed

South Korean Prime Minister Lee Nak-yon has recently called for the imposition of strict and rigid regulatory frameworks for cryptocurrency businesses, given the exponential growth of the global bitcoin market. Lee emphasized that currently, cryptocurrency exchanges and investors have complete freedom, as the South Korean cryptocurrency exchange market is not regulated (more…)