Korean Won Becomes Most Traded Fiat Currency Globally – Report
According to research firm Kaiko, South Korean Won is the most-traded fiat currency globally during the first quarter of 2024. Kaiko research reported on April 15 that the won constituted a trading volume exceeding $456 billion on centralized cryptocurrency exchanges, surpassing the volume of the U.S. dollar by $455 billion. Due to the “fee war” […]
South Korean Finance Regulators Tighten Token Listing Guidelines
Local news outlets recently reported that South Korea’s finance officials are tightening down on domestic exchanges and token listing chronicles. In an extraordinary turn of events, South Korea’s financial regulators recently cracked down on virtual assets nationwide, revealing a more rigorous approach to token listings on CEXs. The South Korean regulators’ action, which coincided with escalating […]
Bithumb Exchange Reports 57% Annual Loss For 2023
South Korean cryptocurrency exchange Bithumb, reported a 57% decrease in Annual revenue days after announcing a delayed IPO. An April 2 article from Korean news outlet Newdaily stated that the Seoul-based exchange’s annual sales revenue decreased by 57.6% to 1.358 billion Korean won in 2023 from 3.201 billion won in 2022. Although net profit decreased […]
Crypto.com Exchange Expands Operation in South Korea
Crypto.com exchange will make its cryptocurrency trading application available to retail investors in South Korea starting April 29 despite heightened crypto regulatory measures. South Korean users will initially have access to over 150 cryptocurrencies and non-fungible tokens (NFTs) via the Crypto.com app. This market segment is crucial to the company’s expansion, according to an April […]
South Korean Police Arrest Two Crypto Scammers
South Korean Police have apprehended two crypto scammers who deceived an elderly person out of 5.5 billion won ($4.1 million) by promising lucrative cryptocurrency investments of 1 billion South Korean won within a month. Two individuals, aged 20 and 30, were apprehended by the Haeundae Police Station in Busan, South Korea, on suspicion of deceiving […]