South Korean crypto exchange Coinone is launching an exchange in Jakarta, Indonesia, making it first among the top crypto exchanges in Korea to enter the global market.
Coinone is the third-largest crypto exchange in South Korea after the Kakao-backed Upbit and Bithumb. Coinone Indonesia will be available for pre-registered users on May 24,
South Korean police have arrested four executives from two domestic cryptocurrency exchanges for allegedly embezzling funds belonging to customers.
According to police officials, Kim Ik-hwan, co-founder and CEO of cryptocurrency exchange Coinnest, and the other three suspects were detained on Thursday. The identities of the other executives and the other exchange have not been made public.
The South Korean Fair Trade Commission (FTC), the country’s regulatory authority for economic competition, has ordered 12 local cryptocurrency exchanges to revise their adhesion contracts to provide better protection to consumers.
According to the FTC, existing guidelines unfairly bar users from withdrawing their deposits or limit their services to users and force users to shoulder all financial losses when they end their membership with the crypto exchange.
South Korean crypto exchange Bithumb is planning to enter the ATM market by installing bitcoin ATMs in the country.
Bithumb, South Korea’s largest cryptocurrency exchange, has partnered with three kiosk manufacturers – Uno Space, TROS Systems, and IYU – to supply ATMs to different businesses,
Blockchain retail startup Pundi X has partnered with South Korean crypto exchange Coinnest to issue 300,000 Pundi X Pass cards to their members.
Pundi X is a cryptocurrency point-of-sale (“POS”) solutions provider for retail stores seeking to accept digital currencies.
South Korean crypto exchange Coinpia has announced that it will be suspending its trading and fiat deposits services. The announcement came after it was unable to implement the know-your-customer (KYC) system recently mandated by the South Korean government.
According to an announcement published on its homepage on Tuesday,
