Cryptonews Tags Upbit

# Upbit (Page 5)

‘Boom’ in Big South Korean Firms Investing in Crypto Startups

Large South Korean companies are pouring money into crypto and blockchain startups, media outlets have noted – while the nation’s market-leading crypto exchange is set to make a sports investment of its own.Per a report from Fn News, there has been a “boom” in crypto and...

USD 1.8M Worth of Crypto & Fiat Remains in Limbo in South Korea

So far just under half of all the crypto and fiat from the South Korean exchanges that closed down last month has been recovered – converted to fiat and withdrawn through banks or transferred to other exchanges – but USD 1.8m still remains unaccounted for two weeks...

KYC Headaches on the Horizon for South Korean Exchanges

In the South Korean crypto world, when it rains, it pours. Fresh from a regulatory crackdown that has led to mass crypto exchange shutdowns, the handful of still-functioning trading platforms are now facing up to fresh know-your-customer (KYC) protocol-related heartache.Per the Chosun Ilbo, a spate...

Hope For Four More S Korean Crypto Exchanges as Others Give up the Ghost

South Korea’s looming crypto exchange shutdown maelstrom looks set to come to a head this week – with yet more large exchanges announcing closures or temporary suspensions ahead of a regulatory deadline that comes into force on Friday. But there could be a silver lining, with the number...

South Korean Ruling Party Squabbles over Crypto Tax

South Korea’s ruling party is at loggerheads over the thorny issue of crypto tax. The government could even face a backbench revolt as parts of the party want to delay or amend incoming tax laws.As previously reported, the National Assembly has already green-lighted a change to the existing...

S Korean MP Tells Gov’t: ‘Don’t Let a Crypto Monopoly Emerge’

A South Korean ruling party lawmaker has urged the government to prevent Upbit, the nation’s market-leading crypto exchange, from creating a de facto “monopoly” – insisting that Seoul should ensure the survival of “at least three or four” rival exchanges.As...

South Korean Regulator Creates New Crypto Exchange Policing Unit

The South Korean financial regulator is set to appoint a number of new crypto officials, and forms a new crypto department. But its probable new chief has reiterated assertions that there will be no stay of execution for scores of crypto exchanges that could be forced to close as a result of its...

24 Crypto Exchanges to Close in South Korea – and 18 More Could Follow

Only a third of South Korean crypto exchanges have met the “minimum requirements” to register with the financial regulator ahead of next month’s deadline – with 24 already all but confirming they will close. But political pressure is mounting on the regulator, with a growing group of MPs pushing...

A Crypto ‘Coin Run’ Could Be Brewing in South Korea

A leading South Korean media outlet and industry experts have warned that a “coin run” could take place next month as the likelihood of a mass of crypto exchange closures increases.In a video report, the national broadcaster KBS reported that a glut of crypto liquidations could be on...

Upbit is First South Korean Exchange to Apply for Operating Permit

Upbit has become the first South Korean crypto exchange to officially apply for an operating license – with the nation’s financial regulator confident that “at least one or two” others will follow suit before the end of this month.The move is a major statement from the...

All of South Korea’s Crypto Exchanges Fail their Regulatory Audits

South Korean crypto exchanges have been dealt another crushing blow – with all of the nation’s trading platforms failing their regulatory “consulting” audits.The development will not bode well for the sector with just over a month to go until new regulations kick in –...

Kimchi ‘Bonus’ Is Back as Korean ‘Ant’ Investors Return to the Market

South Korean investors are returning to the markets after weeks of inactivity, data has shown. But the kimchi premium has flipped on its head again for the first time in two years – resulting in a small “kimchi bonus,” and slightly lower bitcoin (BTC) and altcoin prices on most...

Upbit Gains Upper Hand in Legal Fight Against Delisted Altcoins Issuers

The market-leading South Korean crypto exchange Upbit has found itself involved in a series of legal struggles with the issuers of some of the tokens it delisted earlier this summer.As previously reported, the nation’s biggest trading platforms went on a series of unexpected, late-night...

S Korean Regulator to Force Crypto Overseas Exchanges to Abide by its Rules

The top South Korean financial regulator has effectively blocked overseas crypto exchanges from operating in the nation if it can be proved they are actively targeting users based on South Korean soil.According to Chosun and Seoul Kyungjae, the regulatory Financial Services Commission (FSC), which...

South Korean Crypto Exchanges Ready for Legal Fight Amid Closure Threats

South Korean crypto exchanges are preparing lawsuits to sue the government or challenge it in the constitutional court if they fail to meet a September regulatory deadline and are obliged to close.New regulations for crypto exchanges, which have already passed into law, will be enforced as of...

Top South Korean Crypto Exchanges Purging Altcoins in Late-night Culls

Multiple South Korean crypto exchanges have gone on token purges, culling a wide range of altcoins from their platforms – and following in the wake of the market-leading exchange Upbit, which has earmarked 30 coins for the ax.As previously reported, Upbit’s unexpected move saw five...

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