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Stader price rallied 42% on Aug 26 after its Bithumb listing, breaking past resistance with volume and ecosystem growth fueling momentum.
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South Korean banks are getting ready to issue their own won-based stablecoins amid government's regulatory push.
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The South Korean Financial Services Commission (FSC) have ordered local crypto exchanges to temporarily halt their crypto lending services until proper guidelines are introduced. On August 19, the FSC announced in a translated press release that it has sent legal…
USDT
Tether
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Efforts to launch a won-denominated stablecoin in South Korea are gaining traction as financial regulators prepare to publish a detailed proposal for the assets. On August 18, local media outlet MoneyToday reported that the Financial Services Commission (FSC) of South…
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Parataxis Holdings is merging with SilverBox Corp IV in a special purpose acquisition that includes the formation of a NYSE-traded Bitcoin treasury company worth $640 million. In a recent press release, the two companies announced that the deal could “provide…
BTC
Bitcoin
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South Korean digital bank KakaoBank hopes to cement its place in the stablecoin market and is reportedly reviewing various entry strategies, including a potential won-pegged stablecoin. Local media outlet reports say KakaoBank’s chief financial officer, Kwon Tae-hoon, has confirmed that…
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South Korea’s first Korean won-backed stablecoin was recently launched in a test run by fanC in collaboration with financial software firm Initech. Could this be the start of Korea’s stablecoin bid? On August 5, fanC and Initech unveiled “KRWIN,” the…
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The CEO of South Korean exchange Bitsonic, Shin Jinwook, has received an extension to his seven-year prison sentence after authorities found evidence of fraud amounting to at least 100 million won or $72,000. On August 5, Judge Seong Gi-jun of…
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Stablecoin issuer Tether has surpassed South Korea in the number of U.S. treasury bond holders after it issued more assets with total exposure to U.S. Treasuries. How much U.S. debt does the firm hold? According to data from analysis firm…
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South Korea’s Financial Supervisory Service has verbally instructed local asset managers to limit exposure to crypto-linked stocks such as Coinbase and Strategy in ETFs, citing a 2017 policy that bars institutional investment in virtual assets. According to the Korean Herald,…
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South Korea’s startup ministry proposed a new law revision that would allow crypto firms to register as venture companies. This reclassification would grant them tax reductions and other benefits. According to a notice published on July 9, the country’s Ministry…
BTC
Bitcoin
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Moo Deng and Bonk are expected to be in the spotlight this week as Bitcoin bulls attempt to push the bellwether asset toward a new all-time high. The total cryptocurrency market capitalization rebounded 3.5% over the past 24 hours to…
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Biggest exchange in South Korea is planning to launch its own stablecoin, backed by local currency.
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South Korea’s central bank digital currency project has been put on hold as the regulators turn their attention to fast-tracking the issuance of won-backed stablecoins. According to a Bloomberg report citing an unnamed Bank of Korea official, the central bank…
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South Korean equities have surged following President Lee Jae-myung’s pledge to permit cryptocurrency assets backed by the won. This has driven intense interest among retail investors in companies associated with digital currency projects. The benchmark Kospi Composite index has gained…
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Shares of Kakaopay dropped sharply after volatile trading as regulators warn of risks tied to widespread stablecoin adoption. Shares of South Korean digital payments firm Kakaopay tumbled as much as 17% on June 27 after trading resumed Thursday, following a…
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