Report: Crypto Exchanges in South Korea Scrambling to Survive as Bear Market Hits Hard

According to a local publication Blockinpress, crypto exchanges in South Korea are struggling to adjust to changing market conditions and the 14-month-long correction. Since January 2018, the global crypto exchange market has seen a rapid decline in volume. With the exception of Bitcoin and Ethereum, the majority of both major digital assets and tokens have seen a 50 to 90 percent decline in daily volume. Local Crypto Exchanges Considering Laying Off Employees The report revealed that the country’s largest exchanges in the likes of Bithumb and Korbit are evaluating voluntary resignation of at least 10 percent of their employees. Speaking

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Why South Korea Had to Ban Crypto ICOs and Risk Losing Multi-Billion Dollar Opportunities

This week, the government of South Korea officially decided to maintain its existing blanket ban on domestic initial coin offerings (ICO) in a move that could benefit other major crypto markets in Asia. On Friday, the virtual currency task force of the Office for Government Policy Coordination released a comprehensive report on the ICO industry. Local financial authorities stated that the government considers the ICO model to be a high-risk investment vehicle in many areas. As such, the government will continue to reinforce a ban on domestic crypto token sales. It’s Not Just Domestic ICOs, Foreign Crypto Firms Could be

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