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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 has been a leading market for bitcoin over the last year or so in terms of adoption, trading volumes, and regulatory response. Now one of the top figures in the government associated with regulating cryptocurrency has passed away, with stress suspected to be a contributing cause. South Korean Cryptocurrency Regulator Jung Ki-joon, Head of the Economic Policy Coordination Office for the South Korean Government, has been found dead in his apartment in Seoul on Sunday morning. According to local reports he most likely passed away on Saturday night before his body was found by his family in the...

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bitcoin, demand, high, rise, south korea, trade, trader, trading, volume -

As demand returns to the markets South Korea is once again leading the way for trade volume. Bitcoin recorded a monthly high trading volume on exchanges in the country as fears of clampdowns subside and confidence returns to the crypto markets. Local media reported that domestic Bitcoin trading volume reached a maximum value in the month following the holiday season. Over $250 million has been traded in BTC on South Korea’s leading exchange Bithumb in the past 24 hours. New Bitcoin Trade Volume High The recorded volume on the 19th was the largest in a month indicating a steady return to crypto trading...

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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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