South Korea’s failure to lift ban on P2E games discourages game makers: report
President-elect Yoon Suk-yeol promised to lift the P2E ban as part of his campaign to open up South Korea to blockchain innovation, but the promise has not been kept.
President-elect Yoon Suk-yeol promised to lift the P2E ban as part of his campaign to open up South Korea to blockchain innovation, but the promise has not been kept.
Investigators from the Seoul Southern District Prosecutors Office searched the offices of several digital assets exchanges to seize records and other materials related to the Terra collapse, according to reports.
The Bank of Korea has invited at least ten commercial banks, including Shinhan Bank and NH Nonghyup Bank, to be part of the testing CBDC for making remittances and payments between individual users.
The South Korean fintech giant expects the investment to create 10,000 jobs in the Web3 space and says it will strengthen the competitiveness of the domestic industry.
South Korea has agreed with the United States to share digital asset crime investigation data and make joint efforts to investigate entities and persons connected to the collapsed Terra blockchain.
The move is to ensure Terraform employees are available for the ongoing investigation of the crash of the blockchain's LUNA and UST tokens.
Five of the country's top exchanges, including Upbit, Bithumb, Coinone, Korbit, and Gopax, have agreed to form a joint council to work on investor protection rules autonomously.
The suspect allegedly stole around $660,000 (KRW820 million) in digital currency from 90 victims between January and May this year, according to local reports.
The move comes after the activation of the privacy feature MimbleWimble and brings the total number of digital currency exchanges that have delisted Litecoin to five, including Upbit and Bithumb.
The U.S. Federal Trade Commission released a report detailing about 46,000 people with over a median of $2,600 individual loss—this is about 60x higher than in 2018.`
The investment aims to kickstart the metaverse space in South Korea by supporting companies and creating jobs in the nascent industry.
The Digital Assets Committee is an initiative of the ruling People's Power Party as it intends to reorganize and broaden the Special Committee on Virtual Assets created in May as an emergency response to Terra's UST and LUNA tokens' crash.