Bithumb Pledges $8M to South Korea’s ‘Regulation-Free’ Blockchain Zone

South Korean cryptocurrency exchange Bithumb has pledged to invest roughly $8 million into the Busan blockchain zone. The region was recently declared “regulation-free” by the national government and modeled after the Switzerland town of Zug. Bithumb’s subsidiary GCX Alliance will discuss the preliminary plans with the Financial Services Commission (FSC) this month. Also read: Mining…

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24 Countries and IMF Discuss Global Standards of Crypto Regulation

Twenty-four financial authorities and 11 international organizations, including the International Monetary Fund and the World Bank, recently gathered in New York and discussed global standards of crypto regulation. “It is important to consistently implement international standards,” said the chairman of South Korea’s top financial regulator who attended the meeting. Also read: Indian Supreme Court Postpones…

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‘Asia’s Amazon’ Starts Using Bithumb’s Payment Service for Cryptocurrency Users

Exchanges One of South Korea’s largest cryptocurrency exchanges, Bithumb, has begun providing a cryptocurrency payment service to a major online marketplace it refers to as “Asia’s Amazon.” Korean users can use their cryptocurrencies held at the exchange to pay for purchases on Qoo10 using this service. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space…

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South Korean Regulators Discuss Proposals for ICO Legislation

Regulation Korean lawmakers are increasingly pushing for the regulation of initial coin offerings (ICOs) with multiple bills currently pending at the National Assembly. This includes a proposed amendment to the Electronic Financial Transactions Act. Meanwhile, the Korean Blockchain Association has also come up with its own set of guidelines for crypto exchanges and ICOs. Also…

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South Korean Lawmaker Proposes Special Crypto Zone for ICOs

Regulation A South Korean lawmaker has reportedly proposed designating a regulation-free special cryptocurrency zone aimed at initial coin offerings. It has been about a year since token sales were banned in the country but the government has yet to introduce any guidelines for them. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals…

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Korea Roundup: Mongolian Government Visits Bithumb, New BTM, Hardware Wallet

News In South Korea, Bithumb was visited by officials of the Mongolian government. Upbit is offering free training leading up to its developer conference. A public company has unveiled a hardware wallet as it enters the crypto space. Meanwhile, hacked crypto exchange Coinrail has launched an international service for non-Korean customers, and a US bitcoin…

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VIDEO: Ethereum Overloads, Gas prices Soar | Korean Legistators takes Blockchain Serious

Ethereum Gas prices soar to over 70 Gwei due to transaction overload coming from coins doing airdrops in order to get listed on Fcoin. Korean Legislators take blockchain more seriously and is classifying exchanges as regulated financial institutions as opposed to communications vendors. 0:56 Korean Legislators create classifications for Crypto 1:55 IBM signs $740 Million…

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Associations Challenging Crypto Ads Ban to Proceed with Lawsuit

News Facebook’s recent decision to partially lift the ban on crypto ads will not stop a planned legal action against the measure. Crypto associations and businesses from several countries announced earlier this year their intentions to sue internet giants imposing such restrictions. The claimants want to proceed with filing the lawsuit, despite the policy update.…

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