Category: South Korea

Nexon Korea CEO Denies Rumors of Acquiring Bitstamp for $350 Million

Video game company, Nexon Korea’s CEO, Lee Jung-hun has issued a statement in a press conference denying the rumors of a Bitstamp acquisition. The rumors, which hit the headlines yesterday, suggested the oldest bitcoin exchange was up for sale and that the South Korean gaming company was the frontrunner for acquiring it. According to the…

May 20, 2018
Controversy Looms Over Bithumb Coins

South Korean cryptocurrency exchange Bithumb is reportedly re-evaluating its strategy to launch its own coins through a corporation in Singapore, following news of fraud that could have serious side effects to both companies. Under the current laws, Bithumb coins will still be subject to Korean regulation whether launched abroad or not. Also read: Yahoo! Japan Confirms…

May 16, 2018
Gaming Co. Nexon Korea Refutes Rumors It Will Buy Crypto Exchange Bitstamp

Rumors denied: Nexon Korea is not in the process of buying crypto exchange Bitstamp, according to a press conference by Nexon Korea’s CEO #NEWS

May 12, 2018
System Error at Korean Crypto Exchange Gave Users Free Coins

A South Korean cryptocurrency exchange said it suffered an internal system error which affected withdrawals. The exchange claimed that users were able to withdraw five times the number of coins they requested. It is asking for the coins back, and will seek civil liabilities and damages from users who do not voluntarily return the coins.…

May 6, 2018
$350 Million Bitstamp Acquisition Negotiations Denied by Nexon CEO

The bitcoin exchange industry is widely considered to be in a process of transition, with big players stepping in and acquisitions leading to greater consolidation. As such it is not surprising to hear that Bitstamp is on the shelf, although a rumored buyer now denies it. Also Read: Bitcoin in Brief Wednesday: Crypto Leakers,…

May 5, 2018
Bitstamp to Be Sold to South Korean Gaming Firm for $350 Million: Report

Cryptocurrency exchange Bitstamp will reportedly be acquired by a South Korean gaming company. Citing three sources familiar with the matter, Business Insider reports that Bitstamp — the world’s oldest surviving Bitcoin exchange — is close to finalizing a sale to Nexon, a South Korean gaming company that is now headquartered in Japan. Bitstamp, which was…

May 4, 2018
How South Korea’s Largest Exchange Plans to Allow Millions to Use Cryptocurrency

Bithumb is helping some of the largest shops and restaurants in South Korea like Sulbing to accept cryptocurrency #ANALYSIS

May 1, 2018
New Self-Regulatory Rules for Crypto Exchanges in South Korea Clarified

The majority of South Korean cryptocurrency exchanges are implementing new self-regulatory rules and performing self-inspection. The industry group in charge of leading the efforts has clarified the differences between the new and old self-regulatory rules for its 23 exchange members. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Promoting Safe…

May 1, 2018
Hong Kong and Singapore Emerge as New Meccas for Token Sales

Two countries have recently emerged as the new Meccas for token sales following bans in China and South Korea. The number of initial coin offerings in Singapore and Hong Kong has skyrocketed in recent months, as companies seek a favorable environment to raise funds outside their home countries. Also read: Yahoo! Japan Confirms Entrance Into the…

April 24, 2018
Korea’s Largest Telecom Operator Announces Blockchain Service For Asset Management

SK Telecom will use Blockchain for its asset management service, will launch a platform to support Blockchain startups. #NEWS

April 24, 2018