3 exchanges in South Korea face embezzlement probes
Employees at three cryptocurrency exchanges in South Korea have been taken into police custody for alleged embezzlement of their clients’ funds.
Employees at three cryptocurrency exchanges in South Korea have been taken into police custody for alleged embezzlement of their clients’ funds.
The ban could be lifted in some as-yet undefined circumstances, allowing some token issues to go ahead where they meet new criteria, according to reports.
The government has banned its officials from holding virtual currency and participating in cryptocurrency-related transactions.
Besides promoting acceptance of cryptocurrencies, a South Korean official would also like to see banks work closely with crypto exchanges.
South Korean regulators have clarified their position and, at least for now, cryptocurrencies are safe.
Members of the virtual currency task force are examining a “cryptocurrency exchange approval system” based on New York’s BitLicense, according to reports.
North Korea has been engaging in related cybercrime attacks, with mounting evidence pointing to a specific unit called Lazarus, according to South Korea.
Samsung's move to create and sustain its own foundry dedicated to cryptocurrency mining is "unprecedented," an analyst said.
The move is the result of the probe into 10 domestic cryptocurrency exchanges and comes as part of South Korea's drive to tighten regulations.
Investors in South Korea will be required to use real-name accounts for trading in cryptocurrencies by Jan. 30.
The confusion and friction over a reported proposal to shut down cryptocurrency exchanges in SoKor continue this week, and investors are having none of it.
China and South Korea started a quake; BitConnect went all in with a landslide.