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South Korea's leading crypto exchange and a mobile payment service provider will work together to make virtual currencies available at thousands of outlets here. The partnership was made on Monday between crypto exchange Bithumb and Korea Pay's Service, operator of mobile payment service Pay's. About 200 franchise brands will allow customers to use the service to pay at 6,000 outlets across the country.    Sponsored Among the brands are desert cafe Sulbing, Cafe Droptop, seafood buffet restaurant Todai and candle store Yankee Candle. The two companies will work to make virtual currencies available at 6,000 outlets in the first half of the...

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South Korea¬†is considering adopting an approval system for crypto exchanges based on New York‚Äôs¬†BitLicense¬†system, local news outlet¬†BusinessKorea¬†reports. BusinessKorea writes that it is unlikely any final decision will be made until after the June 2018 elections in the country. A government official spoke to them about the option as part of a virtual currency taskforce: ‚ÄúWe are positively considering the adoption of an exchange approval system as the additional regulation on cryptocurrencies. We are most likely [to] benchmark the model [against that] of the State of New York that gives a selective permission.‚ÄĚ BitLicense is a license to operate a virtual...

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A number of new cryptocurrency exchanges are launching in South Korea despite being unable to provide full service due to regulatory challenges. Since the Korean government enforced the real-name system on cryptocurrency accounts, banks have only been providing fiat deposit services to the country’s four largest crypto exchanges. Exchanges Undeterred by Regulations South Korean regulator talking about the real-name system. A number of new cryptocurrency exchanges are opening in South Korea despite regulatory uncertainty and the inability to accept fiat deposits. The challenge comes from the new system, enforced on January 30, which requires cryptocurrency traders to use real-name accounts to deposit money...

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