Block Seoul Day 1: Is cryptocurrency a new asset class?
At the Block Seoul 2018 conference, a panel of investors and innovators came together to discuss what cryptocurrency is and define whether it is an asset class.
At the Block Seoul 2018 conference, a panel of investors and innovators came together to discuss what cryptocurrency is and define whether it is an asset class.
Two of the biggest cryptocurrency exchanges in South Korea are requiring accounts to provide real names before allowing withdrawals in Korean won.
The Korea Customs Service (KCS) is tapping tech giant Samsung’s blockchain technology for its customs clearance system.
Representatives from the South Korean banking industry have said they will limit services to cryptocurrency traders who haven’t converted to real-name accounts, in a move designed to shake up the 50 to 60% of accounts that still remain unverified.
A substantial number of investors in South Korea have reportedly lost well over $8 million in an alleged fraudulent ICO involving a phantom shipwreck with a supposed tranche of billions of dollars' worth of gold on board.
Bithumb will reportedly resume offering services to new accounts from as early as this week, following confirmation of a partnership with NH Bank which will lift the restrictions on the firm.
South Korean cryptocurrency exchange Bithumb ran up first half profits of $35 million, ten times smaller than profits for the previous accounting year, in the wake of a high-profile hack on the exchange in June.
It seems that Malta is not the only country to come under the tag of the blockchain island of late, with South Korea also entering the fray in a big way.
Of the 21 crypto exchanges, gov’t officials said 11 have completed the short-term measures. Eight exchanges—Upbit, Bithumb, Korbit, Coinnest, Coinlink, Coinone, Coinplug, and Huobi Korea—have also improved their wallet management systems, according to South Korea government.
South Korea’s Ministry of Economy and Finance announced that a total of 9 to 10 trillion won ($8 billion to $8.84 billion) will be allocated in the next five years for their 'Growth through Innovation' Investment Plan.
Governor Won Hee-ryong of Jeju Island in South Korea has made an official proposal for the island to become the country’s hub for cryptocurrencies and blockchain in general.
Block Seoul, one of the largest Blockchain conferences of its kind will be held September 16–19, 2018 in Seoul, South Korea.