Tagged: upbit

70-80% of South Korean Cryptocurrency Mines Close As Costs Exceed Prices

At the top of markets in December 2017, mining an Ether, the native cryptocurrency of the Ethereum network, cost about 240,000 Korean won ($213 USD), and that Ether could be sold for 2.3 million won ($2093 USD). At that time, South Korea was the third… Read More

Three Employees at Upbit, Korea’s Largest Crypto Exchange, Indicted for Fraud

About one week after its CEO delivered a keynote address to the Korean parliament on the regulation of crypto markets there, the Upbit cryptocurrency exchange’s board chair, finance director and an employee have been indicted for allegedly, “inflat(ing) the volume of transactions by making ($226.2… Read More

Korean Parliament Holding Special and First Ever Session Today to Discuss Cryptocurrency Exchanges

Members of South Korea’s Democratic, Liberal-Democratic and Right Future Party will hold their first debate on the subject of cryptocurrency exchanges today in the Korean parliament, local media outlet Hani reports. Cryptocurrency exchanges have been operating in Korea since 2013 and exchanges there are some… Read More

Korean Cryptocurrency Exchanges Lose Special Tax Status and Designation as Venture Firms

Cryptocurrency exchanges in Korea say their international competitiveness and ability to attract investors will be adversely affected by a recent Korean government decision to revoke their special status as venture firms, Business Korea reports. The change will affect all exchanges registering as business from this… Read More

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