South Korean FSC provides criteria for security tokens
South Korean Financial Services Commission (FSC) has published guidelines that outline which categories of digital assets fit the descriptions for security tokens under the country’s Capital Markets Act. The Financial Services Commission (FSC) said in a news release that digital assets that meet the criteria outlined in the nation’s Capital Markets Act would be considered […]
Binance acquires South Korean crypto exchange GOPAX
As a re-entry means into the South Korean crypto market after two years, Binance cryptocurrency exchange has acquired a majority stake in South Korea’s crypto exchange GOPAX. Bitcoin exchange A majority interest in GOPAX, a South Korean cryptocurrency exchange , has been bought by Binance. The “Industry Recovery Initiative,” which is headed by Binance, provided […]
Former Bithumb Chairman Lee Jung-Hoon acquitted in first case
The former chair has been acquitted of the allegations of defrauding the company of $70 million during the purchase of Bithumb. The 34th Division of the Criminal Agreement of the Seoul Central District Court rendered a not-guilty verdict on January 3 against Lee Jung-hoon, the former chair of the South Korean bitcoin exchange Bithumb. Due […]
Bithumb Largest Shareholder Exec Dies By Suicide
A senior executive at a business closely linked to the cryptocurrency exchange Bithumb was discovered dead. The largest stakeholder in the bitcoin exchange “Bithumb,” Vident, whose vice president was found deceased, has passed away. Allegations that the CEO had stolen money from Bithumb affiliates were being investigated by the prosecution. This was covered by the […]
South Korea Aims To Become Powerhouse Of Metaverse
A five-year plan to invest $13.8 million in the regional metaverse economy has been announced by South Korea. In January, the South Korean government announced a $170 million fund to invest in the virtual reality concept. However, the nation’s desire in assuming the lead in the so-called “metaverse world” early in 2022 was sparked by […]