South Korea’s citizens reacted angrily to a proposed ban on cryptocurrency exchanges, with politicians and residents alike condemning the move.
South Korean regulators have announced a plan to ban banks from activities involving cryptocurrencies, prompting major banks in the country to declare they will no longer issue accounts required for crypto trading. South Korea’s top bitcoin exchanges are all effected, including Bithumb, Coinone, and Korbit. Banks that have made announcements include Shinhan Bank, Korea Development […]
If there is one rather intriguing trend in the financial sector, it is how banks are preparing to support digital currency and cryptocurrency services. Shinhan Bank in South Korea has been working on a virtual money deposit service. This is a rather interesting development, considering that the bank was awarded a contract to provide custodial services related […]
Bitcoin is shining brightly in South Korea as the price per BTC in the region has reached upwards of $3500-3800 across the country’s top three exchanges. Many traders are finding significant arbitrage opportunities due to South Korean spreads being over $1000 higher than the global average. Also read: Korea Steadily Becoming a Cryptocurrency and Fintech Hub […]
Shinhan Bank in Seoul is establishing a new bitcoin remittance service between its native Korea and neighboring region China. Bitcoin remittances are all the rage, particularly in Asia and Africa. Companies ranging from Bitspark to OKLink are enabling payments to both India and Indonesia, while the Central Bank of Nigeria is empowering foreign remittances. Migrants […]