KoreaTimes - Cryptocurrency

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The Korea Times

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The Korea Times

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Cryptocurrency

Tue, May 30, 2023 | 18:00

Dunamu pioneers Web 3.0 market

Dunamu pioneers Web 3.0 market

Sparked by the emergence of ChatGPT, companies are vying to lead the rising Web 3.0 market. With decentralization and ownership of private information at its core, Web 3.0 is expected to transform our daily lives in unprecedented ways.

Lee Yeon-woo | 2023-05-30 16:07

National Assembly passes bills including virtual assets in assets disclosure

National Assembly passes bills including virtual assets in assets disclosure

The National Assembly on Thursday unanimously passed two bills requiring lawmakers and high-level government officials to declare cryptocurrency and other virtual assets, amid criticism and suspicions over revelations that a lawmaker had held massive coin holdings.

2023-05-25 22:01

[INTERVIEW] NK's cybercrimes expected to prompt US to bolster crypto rules

INTERVIEWNK's cybercrimes expected to prompt US to bolster crypto rules

Last year alone, North Korea is said to have stolen at least $1.7 billion worth of cryptocurrencies, nearly four times more than the amount the Kim Jong-un regime pilfered in 2021, according to Chainalysis, a U.S.-based blockchain analysis firm.

Kim Yoo-chul | 2023-05-24 18:44

Crypto market should abide by similar regulations as legacy banks: BOK

Crypto market should abide by similar regulations as legacy banks: BOK

Korea's financial authorities should introduce a similar level of regulation to the cryptocurrency market as rules concerning legacy banks, since any possible financial fiasco from crypto trading may end up causing serious damage to the real economy, the Bank of Korea (BOK) said in a report Thursday.

Lee Min-hyung | 2023-05-19 09:26

Terraform Labs co-founders ready for legal battle despite escalating public ire

Terraform Labs co-founders ready for legal battle despite escalating public ire

Scandal-tainted Terraform Labs' co-founders - Kwon Do-hyung, better known as Do Kwon, and Shin Hyun-seong - are poised to engage in an all-out legal fight against criminal charges regarding the abrupt collapse of the firm's once-promising Luna coin. Both men have displayed a strong will to “prove their innocence” with their legal representatives. They have refrained from show...

Lee Min-hyung | 2023-05-14 16:27

Montenegro court agrees to release founder of Terraform Labs on bail

Montenegro court agrees to release founder of Terraform Labs on bail

A court in Montenegro agreed to release Terraform Labs founder Do Kwon from jail Friday along with another Korean citizen who also is charged with using forged identification documents in the Balkan country.

2023-05-12 21:44

Assembly ready to pass crypto regulation bill amid growing irregularities

Assembly ready to pass crypto regulation bill amid growing irregularities

Amid a growing scandal surrounding a main opposition lawmaker's coin speculation, the Assembly's National Policy Committee greenlighted a cryptocurrency regulation bill on Thursday. It was the first time ever that a bill stipulating regulations on cryptocurrency was passed by a National Assembly committee.

Anna J. Park | 2023-05-12 15:29

Terraform co-founder pleads not guilty, seeks bail in Montenegro

Terraform co-founder pleads not guilty, seeks bail in Montenegro

Do Kwon, a cryptocurrency firm founder who has been detained in Montenegro after being on the run over alleged massive fraud in South Korea, has applied for bail, according to local court officials Thursday.

2023-05-12 08:05

Deficit widens for banks' crypto custody business on market slowdown

Deficit widens for banks' crypto custody business on market slowdown

Four major lenders ― KB, Shinhan, Woori and NongHyup ― are experiencing widening losses in their investments in crypto custody business operators, hit by the market's abrupt slump over the past two years, data showed Thursday.

Lee Min-hyung | 2023-05-11 16:02

Scandal-tainted lawmaker faces criticism for crypto profits from legal blind spot

Scandal-tainted lawmaker faces criticism for crypto profits from legal blind spot

Rep. Kim Nam-kuk of the main opposition Democratic Party of Korea (DPK) is being criticized for suspicious crypto trading worth 6 billion won ($4.54 million). Kim is suspected of cashing out his crypto ...

Lee Min-hyung | 2023-05-08 16:24

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