On the 19th, the daily trading value of the Upbit (www.upbit.com) won market exceeded 10 trillion won. The most traded stock on this day was BORA, which traded over 2 trillion won in the last 24 hours, and the daily increase rate recorded 433%. Paycoin, which increased 25 times in the day before, was traded at 1.4 trillion won on Upbit that day, and plummeted 46.41%.
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Bithumb (www.bithumb.com), a virtual asset exchange, is aggressively responding to illegal listed brokers.
Lambda256, a blockchain service platform, will start developing a blockchain-based digital asset service with economical and scalable capabilities.
Korea Digital Asset Trust (KDAC), a virtual asset custodial company invested by Shinhan Bank, utilizes the technology of a virtual asset financial company 'Bitgo'.
The Personal Information Protection Committee announced on the 15th January that it requested Kakao to convert all existing Kakao Map favorites folders to private in connection with the controversy regarding the leakage of Kakao Map personal information.
With the revision of the Act on Electronic Documents and Electronic Transactions in 2020, electronic documents also took effect, while blockchain-based electronic contract platforms are emerging one after another. Blockchain technology prevents forgery and alteration of electronic documents and automates contract procedures.
Korean government will start taxing cryptocurrencies such as Bitcoin from January next year. Investors are required to pay 20% as tax on any excess income over 2.5 million won obtained from buying or selling cryptocurrency.
TOMNTOMS (www.tomntoms.com), a coffee specialty store, issues a virtual asset 'TOMTOM Coin'. The idea is to use it as a payment method and customer rewards within TOMNTOMS.
Why US Monetary Authority's allowing stablecoins is good for Korean virtual asset Industry?1/5/2021 On the 4th January, the US Office of the Comptroller of the Currency (OCC) released a legal interpretation that banks can use ‘stable coins (virtual assets with constant value)’ for payment and remittance business.
As interest in Non-Fungible Tokens (NFT) based art works increased, the volume of transactions was the highest ever.
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AuthorDongWon KWAK. Korea Blockchain and Cryptocurrency Expert. Archives
January 2021
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