South Korea takes a strong stance against crypto crime with the “Virtual Asset User Protection Act,” imposing harsh penalties for market manipulation, illegal transactions, and information misuse. This move signifies a commitment to fostering a safe and secure environment for digital asset users.
Han Chang-joon, the former financial officer of Terraform Labs, has been extradited to South Korea to face charges related to the company’s collapse. However, the fate of Do Kwon, the Terraform founder, remains uncertain as both the US and South Korea vie for his extradition, leaving him in limbo and the full picture of accountability incomplete.
The South Korean community surrounding Binance’s Launchpool project MANTA is in an uproar, alleging potential team dumping or money laundering. The claims stem from the suspicious sale of 2 million MANTA tokens by Sumeley, the Korean Business Development representative, shortly after the token’s listing.
The U.S. approval of a spot Bitcoin ETF may signal a new era for cryptocurrency acceptance, but don’t expect South Korea to follow suit. The South Korean government has reiterated its ban on crypto ETFs, highlighting the diverging regulatory approaches to this emerging asset class worldwide.
Former US President Donald Trump’s team is making a stunning about-face in the world of cryptocurrency, offloading millions of dollars worth of Ethereum (ETH) earned from his controversial NFT collection, the Trump Digital Collectible Cards. This news, revealed by blockchain research firm Arkham, has triggered a wave of speculation about Trump’s true stance on crypto and the future of his NFT venture.
Bitcoin SV (BSV) unleashed a jaw-dropping 65% rally in a single day, leaving onlookers bewildered and market analysts scrambling for explanations. Fueled by a sudden surge in buying pressure from South Korean traders, the once-beleaguered cryptocurrency catapulted from $42 to a dizzying high of $69 before settling back slightly. The unexpected eruption fueled speculation about renewed interest in BSV’s contentious hard fork of Bitcoin and its claims of superior scalability and transaction processing power. However, some remain cautious, attributing the surge to potential market manipulation or short-squeeze dynamics within the Korean exchanges.