South Korea Lawmakers Discuss ICO, Cryptos During Extraordinary Session: Report

South Korea has commenced an extraordinary session in the National Assembly to discuss regulation and measures to promote the cryptocurrency industry alongside ICO guidelines to eventually overturn the ongoing ban. According to a Business Korea report on Monday, the short session – extraordinary sessions cannot exceed 30 days – in South Korea’s National Assembly will

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Korea’s Crypto Industry Condemns Exclusion Plan from Venture Firms List

Crypto exchanges and blockchain startups in South Korea are protesting against a recent legislative proposal by the government to exclude the industry from recognized venture businesses. In a proposal outlined by South Korea’s Ministry of SMEs and Startups this week, the government body revealed its intention to exclude the blockchain industry, including cryptocurrency exchanges, from

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South Korea Crypto Industry More Optimistic Than Ever Despite Bear Market

Throughout the past two months, investors in the local crypto market of South Korea have continuously expressed their optimism towards a drastic change in the regulatory landscape of crypto. Since early February, the crypto market has endured the third-worst correction in its history, experiencing a 78 percent decline in price. Despite the bear market, the

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South Korea Budgets a Trillion Won for Blockchain Tech in 2019

South Korea’s government has earmarked a 5 trillion won ($4.4 billion) budget toward its ‘Growth through Innovation’ investment program in eight critical sectors with a particular focus on blockchain and AI. In a meeting in Seoul on Monday, South Korea’s finance minister Kim Dong-yeon confirmed plans of a 5 trillion won investment toward its innovation

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Jeju Island Aims to Become an ICO-Friendly Blockchain Hub Inspite of South Korea Ban

South Korea’s Jeju island is proposing a plan to become a blockchain haven wherein initial coin offerings (ICOs) would be allowed in the autonomous province despite the ongoing ban in the mainland. According to a report by the JoongAng Daily on Monday, the governor of Jeju Island has formally proposed that the central government of

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South Korean Government to Promote Blockchain Training as Part of ‘4th Industrial Revolution’

South Korea’s Ministry of Science and ICT will promote the training of blockchain technology as part of an effort to prepare young people for what it calls the “Fourth Industrial Revolution.” Blockchain technology is included in courses that have recently been announced by the Ministry of Science and ICT. The Ministry of Science and ICT

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‘Big Four’ South Korean Bank Enters Blockchain Pact with Telecom Giant KT

South Korea’s second-largest bank Shinhan Bank has entered into a partnership with the country’s second-largest telecoms provider KT Corp for the purpose of developing a new blockchain-based platform. The Korea Times reports that the new platform is intended to build on recent moves by regional governments across the country to introduce digital vouchers. Useful Competencies

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Korean Police Raid Firm in Fraud ICO Probe of $130 Billion Shipwreck

South Korean police have raided the office of the company that claims to have discovered the shipwreck of a Russian pre-World War 1 battleship carrying $130 billion in gold bars and coins. On Tuesday, the Seoul Metropolitan Police Agency has raided the offices of Shinil Group, a cryptocurrency startup looking to sell treasure from a

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Roger Ver Sent Governor of Jeju Island $100 in Bitcoin Cash, Did it Violate Local Policy?

Roger Ver, a prominent cryptocurrency investor who has backed some of the largest companies in the global crypto sector such as Blockchain, Zcash, BitPay, and Kraken, recently sent the governor of Jeju Island of South Korea $100 worth of bitcoin cash at a public event. Humorous Kim Yeong-Ran Rule Banter Over the weekend, Ver visited

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Korea’s Biggest Crypto Exchange UPbit Comes Out Clean in Audit after Raid

UPbit, currently the biggest crypto exchange in South Korea, came out clean in an audit report which proved the exchange had 100 percent of the amount its balance sheet demonstrated. Police Raid in May On May 11, as CCN reported, UPbit was raided by local authorities under the suspicion of balance sheet manipulation and inflated

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