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“We will continue to take robust action against illicit transactions involving virtual assets to prevent them from becoming a conduit for money laundering,” stated Kim Byeong-hwan, Chairman of the Financial Services Commission. Mr. Kim made these remarks at a ceremony…
The US political landscape is taking an unprecedented turn in favor of cryptocurrencies. The crypto industry’s massive $245 million political spending resulted in the election of nearly 300 pro-crypto lawmakers in the recent Senate and House elections, with industry-backed super…
Despite the bullishness of major cryptocurrencies, including Bitcoin, coins issued by South Korean game companies (Wimix, Bora, and MVX) are performing poorly. Wimix is down 75% since its relisting, while BORA and MVX are down more than 90% from their…
Recently, the Fear and Greed Index of the cryptocurrency market has entered the ‘Extreme Greed (83)’ zone, and Upbit’s Fear and Greed Index is also pointing to the ‘Greed (75.16)’ stage, raising concerns about the market overheating. In particular, the…
The Digital Asset Exchange Joint Consultative Association (DAKSA) has released a “User Deposit Fee Rate Calculation Model Standard” to help cryptocurrency exchanges reasonably set customer deposit fee rates. The standard is a response to the Virtual Asset User Protection Act…
With the Democratic Party of Korea supporting the abolition of the financial investment income tax, the taxation of crypto assets related to it is likely to be delayed until 2027 or later. The government has already submitted a bill to…
Gopax’s offer to reimburse GOFI investors at last year’s January rate (28 million won per bitcoin) has been met with strong investor opposition, complicated by Binance’s negotiations to sell its stake in Gopax as it approaches the December deadline for…
The Personal Information Protection Commission (PIPC) has fined WorldCoin 1.14 billion KRW and issued a corrective order for violating the Personal Information Protection Act. Worldcoin Foundation and Tools for Humanity (TFH) were found to have illegally collected and transferred iris…
The Bitcoin mining industry is facing new challenges. The mining difficulty index recently hit an all-time high of “92.671 trillion,” raising red flags for miners’ profitability. This is compounded by the aftermath of halving, which was implemented in April. With…
North Korean hackers are distributing a new malware called “COVERTCATCH” via LinkedIn. They are attacking developers disguised as job ads, and are specifically targeting the Web3 and cryptocurrency sectors. The cyber attack takes place in the following order: a hacker…