FTC asked to revise the adhesion contracts as they were causing problems for the user in withdrawals thereby largely compromising the consumer’s interests.
S-Coin will be used in the capital city with the major intent of funding public welfare programs and to even compensate private contractors.
The Financial Services Commission is currently having a third-party view on the decision to lift the ICO ban and is simultaneously exploring ways to use advance blockchain-related technologies and effectively regulate crypto-trading.
The traditional cross-border payment systems may start to be driven out by the distributed ledger technologies as Woori bank considers commercializing of Ripple-based overseas remittances this year.
South Korea accuses its northern neighbor of having hacked its crypto exchanges, which resulted in billions of won stolen.
South Korea’s regulatory ban on anonymous crypto trading finally goes into effect starting today and many participants back this decision.
Exchanges have been fined for compromising customer data and privacy, and have been asked to resolve the issue in due time.
OKCoin is speeding up the launch process and already holds a Korean website accepting pre-orders for different cryptocurrencies.
Very soon crypto trading activity in South Korea will be allowed only for those who have real-name accounts: those with anonymous ones will be fined.
Nearly three out of every ten employees in the country have put their money in virtual currency, saying it is the easiest and fastest way to make money.
The country that faces Bitcoin frenzy may ban Bitcoin transactions unless they meet strict conditions.
A set of bills to regulate the cryptocurrency market is being developed in South Korea.
Leading South Korean carrier SK Telecom has developed the first nationwide Internet of Things network to make the country even more connected.