South Korean Exchange Paying Users to Report Illegal Crypto Schemes (news.bitcoin.com)

The Kakao-backed cryptocurrency exchange Upbit has launched a system to reward users for identifying fraudulent multi-level schemes related to cryptocurrencies. The exchange has already identified and reported 20 such schemes to the police.
Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7

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Korean Regulator Warns Kakao’s ICO Abroad Could Violate Crypto Regulations (news.bitcoin.com)

Responding to media reports that South Korean internet giant Kakao plans to raise funds using an initial coin offering (ICO) abroad, the country’s financial regulator reportedly warned that the ICO could violate current cryptocurrency regulations.
Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7

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Three South Korean Crypto Exchanges Raided for Diverting Funds (news.bitcoin.com)

South Korean prosecutors have searched the offices of three cryptocurrency exchanges suspected of buying bitcoin with money stolen from customers’ accounts. According to authorities, the companies turned up on the radar during investigations of dubious transfers in January. The raids have been conducted this week.
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Survey Finds South Korean Youth the Most Active Crypto-Investors (news.bitcoin.com)

A survey released this week reveals that many South Koreans in their 20s are actively investing in digital assets. The region has become a hotbed for cryptocurrency exchanges as more than 2 million South Korean citizens own one of the top digital assets.
Also Read: ‘Cryptomatoes’ Using Excess Mining Heat to Grow Produce
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South Korean Travel Site with Over 50,000 Hotels to Accept 12 Cryptocurrencies (news.bitcoin.com)

A South Korean travel website with over 50,000 hotels and other types of accommodation facilities will begin accepting 12 cryptocurrencies, thanks to a partnership between its operator and Bithumb, a major cryptocurrency exchange in Korea.
Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten
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Korean Government Officials De Facto Banned from Holding and Trading Crypto (news.bitcoin.com)

The South Korean government has reportedly de facto banned all government officials from holding and trading cryptocurrencies. Even if their crypto activities are not related to their jobs, public officials can still be subject to disciplinary actions.
Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten

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