Thailand’s crypto industry has grown to overtake the entire economies of Argentina and Turkey despite the country remaining 7under Junta rule. One of the few Asian nations in which Blockchain is allowing unrestricted financial management, the future looks promising despite several attempts to enforce restrictions. Thailand has been ruled by a military government ever since the coup which occurred in 2013. With the Royal Thai army in charge of all government affairs crypto use restrictions…
The Korean Financial Services Commission has officially announced its stance on the relationship between crypto exchanges and banks. While previously many banks including the Korea Development Bank, Industrial Bank of Korea and the Shinhan bank moved to prevent crypto traders from creating bank accounts, the commissioner of the FSC has now announced all exchanges will face no issues when using and operating banking accounts. “There exists no issue in banks providing virtual bank accounts to…
Bithumb, the biggest crypto exchange in Korea has officially sold over 38% of its owned shares to the BK Group making it the biggest shareholder as the deal is pushed through. The deal was facilitated by the BTC Holdings company which owned a huge 76% stake in the crypto exchange. Selling 50% of its shares and adding 1 share to finish the deal, BK Group, originally a plastic surgery firm, has become a major shareholder.…
Popular South Korean cryptocurrency exchange, Bithumb has relaunched its crypto services after a major hack mid-June 2018; in which it was quoted to have lost $31 million USD worth of cryptocurrency and consequently all buy and sell, withdrawal and deposit options had been disabled. However in a recent publication, Bithumb has announced its commencement of withdrawals and deposit services on 10 specific cryptocurriencies which include BTC, ETH, XRP, ETC, QTUM, LTC, BCH, XMR, ZEC…
Bitcoin prices recently tanked due to the potential crackdown of bitcoin exchanges in Korea by the state. However the bill drafted by the Ministry of Justice which would certainly have seen bitcoin prices tank significantly, has been put on hold as the government office coordinates views between each office and gains a much more detailed insight into the status of crypto and potential the ban would have on trade and finance. As seen in the…