No new virtual currency accounts can be made from Jan. 1st to at least Jan.

No new virtual currency accounts can be made from Jan. 1st to at  least Jan.

Starting from January 1st, no new accounts can be made for trading virtual currency, at least until January 20th. Anonymous digital currency accounts are now banned, and it will take up to a month for most banks to adopt a real-name system. The Financial Services Commission on Monday said they requested that all banks stop creating new virtual currency accounts at a meeting last Thursday. This is a part of…

Bitcoin, Bitcoin Cash see volatile price fluctuations, local virtual currency exchanges paralyzed

Bitcoin, Bitcoin Cash see volatile price fluctuations, local virtual currency exchanges paralyzed

The world’s most popular cryptocurrencies, Bitcoin and Bitcoin Cash saw wild price fluctuations over the past few days,… with Bitcoin’s price tumbling and Bitcoin Cash’s soaring. The immense number of transactions even overloaded local Bitcoin exchanges, leaving them paralyzed. Lee Ji-won has more. The prices of Bitcoin and Bitcoin Cash fluctuated violently over the weekend,… with many local traders reporting service interruptions on the country’s virtual currency exchanges. According to…

Difficult for N. Korea to earn currency through Mt. Geumgang tours without S. Korean tourists…

Difficult for N. Korea to earn currency through Mt. Geumgang tours without S. Korean tourists…

now once the crown jewel in terms of inter-korean projects South Korean tourists to North Korea’s famous Mount Kumgang hang in the balance as Pyongyang is demanding Seoul coming tear downs facilities at the resorts that barely been used since 2008 analysts say Pyongyang is aiming to develop its own tours and sector and earn foreign currency but will face a dilemma on whether to involve South Korea in this…

Virtual currency boom hits S. Korea

Virtual currency boom hits S. Korea

The crypto currency market is abuzz with news that the Chicago Board Options Exchange will become the first traditional exchange to open trading for Bitcoin futures this Sunday. Bitcoin has taken off here in South Korea, too, and local regulators are taking notice. Won Jung-hwan reports. South Korea is one of the world’s largest bitcoin markets, with about 1-million people trading the digital currency. According to the New York Times…

Korea’s Supreme Court recognizes Bitcoin as valuable property for first time

Korea’s Supreme Court recognizes Bitcoin as valuable property for first time

Korea’s Supreme Court has recognized Bitcoin as a property with value for the first time. The court ruled on Wednesday that the digital currency of a sex offender had to be confiscated. During the case’s second trial, the judges said Bitcoin is subject to be confiscated once it is confirmed to have been obtained through the crime. Last September, the court had ruled that confiscating Bitcoin was inappropriate as the…

News Indepth: Yuan′s emerge as world currency and impact on Korea IMF, 중국 위안화

The IMF′s decision to add China′s yuan to its elite basket of reserve currencies. What happens to the Renminbi now and what does this mean to Korea? The Chinese currency becoming part of the Special Drawing Rights our Beyond the Headlines tonight… Hwang Ji-hye is live in the studio with me. Ji-hye, the yuan′s ascent to the IMF′s reserve currency basket… this is not something unexpected… we all knew this…

Bitcoin, Bitcoin Cash see volatile price fluctuations, local virtual currency exchanges paralyzed

The world’s most popular cryptocurrencies, Bitcoin and Bitcoin Cash saw wild price fluctuations over the past few days,… with Bitcoin’s price tumbling and Bitcoin Cash’s soaring. The immense number of transactions even overloaded local Bitcoin exchanges, leaving them paralyzed. Lee Ji-won has more. The prices of Bitcoin and Bitcoin Cash fluctuated violently over the weekend,… with many local traders reporting service interruptions on the country’s virtual currency exchanges. According to…

South Korean financial authorities to inspect virtual accounts used to trade cryptocurrencies

South Korea is the world’s third largest market for cryptocurrencies,.. but with growing fears the bubble might burst,… local authorites are trying to crackdown on the overwhelming popular market. Won Jung-hwan reports. Korean financial authorities are set to probe six major local banks over virtual accounts related to cryptocurrency exchanges,… taking further steps to curb speculation and crack down on money laundering. The Financial Intelligence Unit– *and the Financial Supervisory…

Foreigners buy record high S. Korean bonds, turn to net sellers of stocks in May

Foreigners buy record high S. Korean bonds, turn to net sellers of stocks in May

foreign investor spot a record a man of South Korean bonds in May while dumping stocks over the same period according to data by the Financial Supervisory Service foreigners bought six billion US dollars of local bonds in May the most in a single month since October 2009 the holdings of local debt by offshore investors stood a 100 1 billion dollars at the end of last month making up…

Bitcoin breaks US$14,000 for first time, less than 24 hours after crossing $12,000

Bitcoin smashed through yet another record-high on Wednesday,… surpassing the 14-thousand dollar mark,… less than 24 hours after it roared past twelve-thousand dollars. The digital currency’s rapid ascent comes ahead of the official launch of bitcoin futures trading on the Chicago Board Options Exchange. Tokyo Financial Exchange is also reportedly taking steps to launch bitcoin future trading from next year. Bitcoin’s value has spiked more than 14-fold since the start…