Singapore court judges acquisition suit in Bithumb founder’s favor
The court drama surrounding the acquisition of the South Korean cryptocurrency exchange Bithumb has been ongoing for several years. A Singapore court has issued a decision against Kim Byung-gun, who had initially accused Lee Jung-hoon, the owner of Bithumb, of defrauding him. A court in Singapore found Kim guilty of selling BXA coins without the […]
South Korean exchanges Bithumb, Upbit issue warnings to users concerning Litecoin
The Litecoin (LTC) blockchain’s latest privacy-focused MimbleWimble upgrade has caused two of Korea’s top crypto exchanges Bithumb and Upbit to issue investment cautions regarding the fifth-largest cryptocurrency. Bithumb and Upbit, which together account for the majority of South Korean trading volume, issued statements on Monday warning investors about the hazards of the privacy-enhancing upgrade. According […]
Majority of Korean crypto exchanges to cease operations this month
Failure to comply with South Korean regulators’ new requirements will likely result in the extinction of tens of cryptocurrency exchange operators. South Korean cryptocurrency exchanges face an impending deadline to comply with new compliance requirements, with all operators expected to submit applications for official licences to the Financial Services Commission (FSC) no later than Sept. […]
Bithumb bans foreigners without mobile KYC
In accordance with South Korea’s tighter Anti-Money Laundering legislation targeting overseas users of cryptocurrency exchanges, Bithumb has increased the stringency of its Know Your Customer (KYC) procedures. Foreigners who have not completed phone-based Know Your Customer (KYC) verification will be denied access to the South Korean cryptocurrency exchange Bithumb , according to reports. According to […]
South Korean police reopen Bithumb’s fraud investigation case
No government is taking fraud cases involving cryptocurrency with levity, in this light, the South Korean police have reopened crypto exchange Bithumb’s fraud case. It appears that Bithumb’s problems aren’t going to go away anytime soon! The Bithumb fraud case involving the former chairman of the exchange was reopened by South Korean police on Monday, […]