South Korea’s Top Crypto Exchange Just Launched a Major Product, But is There Real Demand From Institutions?

Bithumb, South Korea’s largest Bitcoin exchange by trading volume, has launched an over-the-counter (OTC) trading platform that will allow deep-pocketed traders to exchange crypto assets off the books. In an official announcement, Bithumb Global Limited, a Hong Kong-based subsidiary of the South Korean exchange, said that it will cater services to institutional clients under the brand name Ortus. Is the Company Seeing Institutional Demand For Crypto? Since late 2017, various reports have claimed that the OTC market is significantly larger than the cryptocurrency exchange market. Last year, TABB Group estimated the OTC market of Bitcoin to be at least two

The post South Korea’s Top Crypto Exchange Just Launched a Major Product, But is There Real Demand From Institutions? appeared first on CCN

News – CCN

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

The post Report: Crypto Exchanges in South Korea Scrambling to Survive as Bear Market Hits Hard appeared first on CCN

News – CCN

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

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

News – CCN

Ban Hammer Remains: South Korea’s Financial Services Commission Refuses to Lift ICO Ban

The ban on initial coin offerings in South Korea will stay, the country’s financial regulator has said in a statement. The decision by the South Korean Financial Services Commission (FSC) follows a survey which the regulator commissioned. Among the findings of the survey include the fact that some ICO projects misrepresented themselves. For instance, some had claimed to be fundraising abroad but they went on to involve South Koreans. Dirty Tricks Employed to Evade ICO Ban According to the FSC, the projects did this by registering in Singapore in order to circumvent South Korea’s ICO ban. Some of the evidence

The post Ban Hammer Remains: South Korea’s Financial Services Commission Refuses to Lift ICO Ban appeared first on CCN

News – CCN

South Africa Establishes a Consultation Paper to Regulate and De-Anonymize Bitcoin Transactions

The South African Reserve Bank has released a consultation paper to regulate cryptocurrencies in the region. However, the government is seemingly introducing banking-like features to the crypto-markets, going against the very ethos of what Bitcoin stands for. The bank chooses to call cryptocurrencies as crypto “assets” over the former term, deeming the distinction makes it

The post South Africa Establishes a Consultation Paper to Regulate and De-Anonymize Bitcoin Transactions appeared first on CCN

News – CCN

South Africa: Two Arrested for Kidnapping Boy, Demanding Bitcoin Ransom

By CCN.com: Two people have been arrested by police in Mpumalanga, South Africa in connection with the kidnapping of a 13-year-old boy in Witbank whose family was then told to pay the equivalent of $ 120,000 in bitcoin (approximately 32.89 BTC at press time). Local Police Nab Crypto Kidnappers South Africa’s Times reports that following the May 2018

The post South Africa: Two Arrested for Kidnapping Boy, Demanding Bitcoin Ransom appeared first on CCN

News – CCN