Archive | South Korea

Seoul Mayor Doubles down on Blockchain Pledges Ahead of Local Elections

Ahead of the Seoul mayoral elections in June, the present mayor of the South Korean capital Park Won-Soon has made manifesto pledges to increase blockchain developments, among other high-tech industries. A progressive power Park has been mayor since 2011 and is now aiming to secure a third term. In the past, he has put forth encouraging […]

South Korean Government to Review and ‘Soften’ Cryptocurrency Policies to Meet G20 “Unified Regulation” Proposal

The South Korean government is said to be revising its cryptocurrency policies after the Buenos Ares G20 Summit agreed to create a set of “unified regulations” in light of acknowledging that cryptocurrencies are “financial assets”. In late March, the G20’s Finance Ministers and Central Bank Governors released a communique noting that crypto-assets have “the potential […]

Crypto Floating Island Project Closer to Realization

Blue Frontiers has signed a much-publicized memorandum of understanding with French Polynesia. The Floating Island Project is exactly as it reads, only it’s to be an independent government complete with its own cryptocurrency. An idea long thought to be a crazy dream of libertarians is now incredibly close to realization. Also read: Alec Baldwin’s Lambo […]

Audit Results: South Korea’s Largest Cryptocurrency Exchange Upbit Cleared

Upbit, the largest cryptocurrency exchange in South Korea, has conducted an internal audit amid suspicions of fraud from national authorities. The audit results allegedly disprove the claims that the exchange has falsely reported the amount of funds it holds. South Korea’s Upbit Exchange Claims Internal Audit Disproves Suspicions of Fraud South Korea’s cryptocurrency market came under… […]

South Korean Electronics Giant LG Launches Blockchain Platform

South Korean electronics giant LG has announced that it’s launched its own blockchain service, Monachain. The service was launched through the company’s information technology service unit, LG CNS. According to The Korea Times, the service is aimed at capitalizing on the lucrative emerging field of blockchain-based services especially in the fields of telecommunications, manufacturing and finance. […]

Cryptocurrency Market Loses $50 Billion as South Korean Exchange Is Suspected of Fraud

The cryptocurrency market turned upside down on Friday, having lost about $50 billion market capitalization overnight. With the exception of only Augur, Nuls, and Tether, the whole list of top 100 digital currencies are on the red. The dreadful sentiment seems to be a reaction to reports that South Korea’s exchange Upbit is suspected of fraud…. […]