South Korean cryptocurrency exchange Bithumb will resume deposit and withdrawal services on Saturday at 11 am KST. The exchange had suspended all deposits and withdrawal services on its platform following the June hack on a hot wallet, which led to the loss of tokens valued at over $30 million. Hacked Crypto Exchange Bithumb Unfreezes Withdrawals […]

South Korea’s primary financial regulator is urging lawmakers to hasten the country’s first regulatory bill for the cryptocurrency sector amid fears of substandard security in the industry. Hong Seong-ki, head of the virtual currency response team at South Korea’s Financial Services Commission (FSC), has joined the chorus among authorities and lawmakers seeking to regulate the […]

State-owned KT Corporation, South Korea’s largest telephone company, has announced the launch of its blockchain-powered commercial network. The firm has built a blockchain layer on top of its existing nationwide network in order to make it “more secure and transparent,” according to an article by The Korea Herald published Tuesday, July 24. The news outlet reports the head of KT […]

The South Korean government is drafting major new industry classification standards for the domestic blockchain industry, local crypto news outlet The BChain reports Thursday, July 5. Three Korean ministries – the National Statistical Office, the Ministry of Science and Technology, and the Ministry of Information and Communication – are said to have been working since the end of last month to […]