韩国
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The South Korean passenger plane crashed, and most landed safely, but ended up crashing into a wall and was destroyed...
#韩国
#韩国
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🌪️South Korea's political turmoil continues to cause Bitcoin Kimchi premium to soar
Recently, South Korea has been in political turmoil. First, the president was impeached, and now even the prime minister is about to face the same fate. This series of political crises not only caused the Korean won exchange rate to fall to its lowest level since March 2009, but also made Bitcoin's Kimchi premium, that is, the average purchase price of Bitcoin in South Korea 3% higher than that of global users.
Bitwise director Jeff Park analyzed that South Korean lawmakers recently proposed a motion to impeach the prime minister, and just two weeks ago, their president Yoon Seok-yeol was also impeached.
The cause of this incident was that President Yoon Seok-yeol tried to maintain national security by declaring martial law. However, the measure actually wanted to transfer power from the people to the military, while restricting the freedom of the press and assembly, and weakening the power of government agencies and courts.
Jeff Park emphasized that the current political turmoil has caused deep concern among democratic countries around the world. In particular, when impeachment is used as a tool for political manipulation, and the frequent appearance of accusations such as foreign interference in elections, it deeply reveals the fragile nature of the democratic system under the offensive of false information.
When the news of the impeachment of the acting president of South Korea came out, the won immediately depreciated sharply. In South Korea, due to the strict capital control policy implemented by regulators, the price of crypto assets on Korean exchanges is usually higher than that abroad. For example, on Upbit, the price of BTC is 144,450,000 won (about 98,000 US dollars), but on Coinbase, its price is only 95,100 US dollars.
It is worth noting that despite the widening price gap between crypto assets in South Korea and abroad, Korean investors have turned their attention to dollar-denominated assets such as BTC. The reason is that they are trying to avoid the current difficulties faced by the won.
This phenomenon deeply reveals the huge impact of political turmoil on financial markets, and triggers deep thinking about how investors should seek safe havens in unstable situations, and what key role cryptocurrencies play in the global financial system.
💬What do you think about the relationship between South Korea’s political unrest and Bitcoin’s kimchi premium? Do you think this will have a knock-on effect on the global crypto market?
#韩国 #政治危机 #比特币泡菜溢价
Recently, South Korea has been in political turmoil. First, the president was impeached, and now even the prime minister is about to face the same fate. This series of political crises not only caused the Korean won exchange rate to fall to its lowest level since March 2009, but also made Bitcoin's Kimchi premium, that is, the average purchase price of Bitcoin in South Korea 3% higher than that of global users.
Bitwise director Jeff Park analyzed that South Korean lawmakers recently proposed a motion to impeach the prime minister, and just two weeks ago, their president Yoon Seok-yeol was also impeached.
The cause of this incident was that President Yoon Seok-yeol tried to maintain national security by declaring martial law. However, the measure actually wanted to transfer power from the people to the military, while restricting the freedom of the press and assembly, and weakening the power of government agencies and courts.
Jeff Park emphasized that the current political turmoil has caused deep concern among democratic countries around the world. In particular, when impeachment is used as a tool for political manipulation, and the frequent appearance of accusations such as foreign interference in elections, it deeply reveals the fragile nature of the democratic system under the offensive of false information.
When the news of the impeachment of the acting president of South Korea came out, the won immediately depreciated sharply. In South Korea, due to the strict capital control policy implemented by regulators, the price of crypto assets on Korean exchanges is usually higher than that abroad. For example, on Upbit, the price of BTC is 144,450,000 won (about 98,000 US dollars), but on Coinbase, its price is only 95,100 US dollars.
It is worth noting that despite the widening price gap between crypto assets in South Korea and abroad, Korean investors have turned their attention to dollar-denominated assets such as BTC. The reason is that they are trying to avoid the current difficulties faced by the won.
This phenomenon deeply reveals the huge impact of political turmoil on financial markets, and triggers deep thinking about how investors should seek safe havens in unstable situations, and what key role cryptocurrencies play in the global financial system.
💬What do you think about the relationship between South Korea’s political unrest and Bitcoin’s kimchi premium? Do you think this will have a knock-on effect on the global crypto market?
#韩国 #政治危机 #比特币泡菜溢价
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[Bank of Korea: More than 30% of Koreans hold cryptocurrencies]
On December 27, the Bank of Korea released a report based on the number of investors with accounts on five major Korean exchanges, including Upbit, Bithumb, Coin One, Cobit and Gopax, saying that as of November this year, the number of people holding cryptocurrencies on Korean exchanges exceeded 15.59 million, an increase of 610,000 from 14.98 million in October.
Currently, the total population of South Korea is expected to be around 51.23 million. This means that the number of people holding cryptocurrencies is equivalent to more than 30% of the total population.
The report said that the number of cryptocurrency investors in South Korea has been rising, and it soared in November. This may be the result of highly optimistic market sentiment after US President-elect Trump won the election in early November.
Otherwise, it is said that Koreans are fierce. The internal volume in South Korea is increasing, and the currency circle may be one of the few opportunities. Do you think there are 10 million people holding coins in the country? $ME #韩国
On December 27, the Bank of Korea released a report based on the number of investors with accounts on five major Korean exchanges, including Upbit, Bithumb, Coin One, Cobit and Gopax, saying that as of November this year, the number of people holding cryptocurrencies on Korean exchanges exceeded 15.59 million, an increase of 610,000 from 14.98 million in October.
Currently, the total population of South Korea is expected to be around 51.23 million. This means that the number of people holding cryptocurrencies is equivalent to more than 30% of the total population.
The report said that the number of cryptocurrency investors in South Korea has been rising, and it soared in November. This may be the result of highly optimistic market sentiment after US President-elect Trump won the election in early November.
Otherwise, it is said that Koreans are fierce. The internal volume in South Korea is increasing, and the currency circle may be one of the few opportunities. Do you think there are 10 million people holding coins in the country? $ME #韩国
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🚨 South Korea sanctions North Korean hackers to combat large-scale cryptocurrency theft 🛡️
In the latest news, South Korea has taken action against 15 North Korean hackers suspected of cyber crimes and one entity due to their alleged involvement in large-scale cryptocurrency theft. This issue has garnered global attention, as North Korea is suspected of using cyber actions to fund its weapons program while evading international sanctions.
The South Korean Ministry of Foreign Affairs revealed that the sanctioned individuals are connected to the 313 Bureau under the Mechanical Industry Department of the Workers' Party of Korea, which has been sanctioned by the United Nations Security Council since 2016. They frequently send personnel to IT companies around the world, ostensibly for normal employment, but in reality, they are engaged in cryptocurrency theft activities.
For example, a person named Kim Cheol-min infiltrated IT companies in the United States and Canada, transferring large amounts of foreign currency back to North Korea. There is also a sanctioned corporate entity that specifically sends IT personnel abroad to raise illegal funds for the North Korean regime and military.
According to a report by Chainalysis, last year North Korean hackers stole approximately $1.34 billion worth of cryptocurrency in 47 incidents globally, accounting for 61% of the total cryptocurrency theft cases worldwide in 2023. These hackers use advanced techniques to infiltrate company networks and steal digital assets.
While South Korea's sanctions are an important step, truly stopping North Korea's cyber threats requires global cooperation and more advanced cybersecurity measures. The South Korean government stated that they will continue to work with the international community to prevent North Korea's illegal cyber activities.
Regarding the sanctions imposed by South Korea on North Korea, some believe that this action may be a political retaliation using its power against North Korea. However, others are puzzled about whether these sanctions are based on political motives or on the maintenance of cybersecurity and international rules. Additionally, whether these sanctions can effectively combat North Korea's cybercrime activities is also a noteworthy concern.
💬 Do you think South Korea's implementation of these sanctions is based on political motives, or on the maintenance of cybersecurity and international rules? Do you believe these sanctions can effectively combat North Korea's cybercrime?
In the latest news, South Korea has taken action against 15 North Korean hackers suspected of cyber crimes and one entity due to their alleged involvement in large-scale cryptocurrency theft. This issue has garnered global attention, as North Korea is suspected of using cyber actions to fund its weapons program while evading international sanctions.
The South Korean Ministry of Foreign Affairs revealed that the sanctioned individuals are connected to the 313 Bureau under the Mechanical Industry Department of the Workers' Party of Korea, which has been sanctioned by the United Nations Security Council since 2016. They frequently send personnel to IT companies around the world, ostensibly for normal employment, but in reality, they are engaged in cryptocurrency theft activities.
For example, a person named Kim Cheol-min infiltrated IT companies in the United States and Canada, transferring large amounts of foreign currency back to North Korea. There is also a sanctioned corporate entity that specifically sends IT personnel abroad to raise illegal funds for the North Korean regime and military.
According to a report by Chainalysis, last year North Korean hackers stole approximately $1.34 billion worth of cryptocurrency in 47 incidents globally, accounting for 61% of the total cryptocurrency theft cases worldwide in 2023. These hackers use advanced techniques to infiltrate company networks and steal digital assets.
While South Korea's sanctions are an important step, truly stopping North Korea's cyber threats requires global cooperation and more advanced cybersecurity measures. The South Korean government stated that they will continue to work with the international community to prevent North Korea's illegal cyber activities.
Regarding the sanctions imposed by South Korea on North Korea, some believe that this action may be a political retaliation using its power against North Korea. However, others are puzzled about whether these sanctions are based on political motives or on the maintenance of cybersecurity and international rules. Additionally, whether these sanctions can effectively combat North Korea's cybercrime activities is also a noteworthy concern.
💬 Do you think South Korea's implementation of these sanctions is based on political motives, or on the maintenance of cybersecurity and international rules? Do you believe these sanctions can effectively combat North Korea's cybercrime?
S3xの回数 一番Oい日は Xマス:
容许朝鲜的存在是人类的耻辱
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South Korea's cryptocurrency circle is in a frenzy! Under the Trump effect, the number of cryptocurrency investors has surged to 15.59 million. Is the stock market shaking?
While you are cautiously buying and selling stocks in the stock market, there is another group of people surfing the ocean of cryptocurrency, with a total number of 15.59 million! Yes, this is the current situation in South Korea. Trump's victory seems to have injected a shot of adrenaline into the cryptocurrency market, and Bitcoin has soared all the way, even breaking the $100,000 mark. In this carnival, Koreans are undoubtedly one of the craziest participants.
The Bank of Korea announced this astonishing data for the first time: As of the end of November, the number of cryptocurrency investors in South Korea has exceeded 15.59 million! This means that in South Korea, with a population of about 51.23 million, more than 30% of people are investing in cryptocurrencies. Does this number shock you?
The Bank of Korea announced this astonishing data for the first time: As of the end of November, the number of cryptocurrency investors in South Korea has exceeded 15.59 million! This means that in South Korea, with a population of about 51.23 million, more than 30% of people are investing in cryptocurrencies. Does this number shock you?
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New legislation promises stronger protection for cryptocurrency investors in South Korea
This article briefly:
• The Korean Financial Supervisory Service will implement strict supervision on virtual assets starting in July 2024.
• The FSS outlines regulations requiring exchanges to pay interest on user deposits and maintain minimum reserves.
• Insider trading rules are in place and exchanges are obliged to monitor trading and report unfair practices.
South Korea’s Financial Supervisory Service (FSS) is preparing to implement strict regulations on virtual assets to strengthen investor protection.
The FSS has published a legislative notice outlining key provisions expected to come into force in July 2024.
Korean Cryptocurrency Investors
• The Korean Financial Supervisory Service will implement strict supervision on virtual assets starting in July 2024.
• The FSS outlines regulations requiring exchanges to pay interest on user deposits and maintain minimum reserves.
• Insider trading rules are in place and exchanges are obliged to monitor trading and report unfair practices.
South Korea’s Financial Supervisory Service (FSS) is preparing to implement strict regulations on virtual assets to strengthen investor protection.
The FSS has published a legislative notice outlining key provisions expected to come into force in July 2024.
Korean Cryptocurrency Investors
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Luna cryptocurrency circle, who is blackened by the black swan of Moutai?
The biggest black swan in the cryptocurrency world in 2022 took place. The Korean Luna coin, which is called the "Moutai of the cryptocurrency world" by global players, fell from US$30 to US$0.6 like a waterfall, and continued to fall to US$0.0035 the next day. The wealth of 270 billion was instantly reduced to zero.
When talking about LUNA coin, we can’t leave out UST coin. UST coin is an algorithmic stablecoin created by a Korean and developed by Terraform Labs. “The goal of UST coin is to ensure that the price is pegged to the US dollar at a 1:1 ratio. In order to maintain this value anchor, Terraform uses its public chain token LUNA as the de facto collateral behind UST coin, hoping to provide value support for UST coin. 1 UST coin is equal to LUNA coin worth 1 US dollar, that is, if the price of LUNA coin is 1 US dollar, it can be exchanged for 1 UST coin, and if the price of LUNA coin rises to 10 US dollars, it can be exchanged for 10 UST coins. And the two are in a "two-way destruction and casting" relationship. Every time 1 UST coin is minted, LUNA coin worth 1 US dollar must be destroyed.
When talking about LUNA coin, we can’t leave out UST coin. UST coin is an algorithmic stablecoin created by a Korean and developed by Terraform Labs. “The goal of UST coin is to ensure that the price is pegged to the US dollar at a 1:1 ratio. In order to maintain this value anchor, Terraform uses its public chain token LUNA as the de facto collateral behind UST coin, hoping to provide value support for UST coin. 1 UST coin is equal to LUNA coin worth 1 US dollar, that is, if the price of LUNA coin is 1 US dollar, it can be exchanged for 1 UST coin, and if the price of LUNA coin rises to 10 US dollars, it can be exchanged for 10 UST coins. And the two are in a "two-way destruction and casting" relationship. Every time 1 UST coin is minted, LUNA coin worth 1 US dollar must be destroyed.
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South Korea proposes delaying cryptocurrency taxation ahead of elections
South Korea’s ruling People’s Power Party believes that enacting cryptocurrency regulations is more important than implementing immediate taxation.
South Korea’s ruling People’s Power Party recently proposed delaying the implementation of taxes on cryptocurrency gains for a two-year period. The proposal was postponed in light of the upcoming general election in April. The party believes it is important to first establish a comprehensive regulatory framework before introducing any tax measures on cryptocurrency investments.
Initially, South Korea planned to impose a 20% tax on cryptocurrency investment profits exceeding 2.5 million won (approximately $1,875) starting in January 2023. However, this timeline was later pushed back to 2025 to allow more time for regulations to be developed within the cryptocurrency industry
South Korea’s ruling People’s Power Party recently proposed delaying the implementation of taxes on cryptocurrency gains for a two-year period. The proposal was postponed in light of the upcoming general election in April. The party believes it is important to first establish a comprehensive regulatory framework before introducing any tax measures on cryptocurrency investments.
Initially, South Korea planned to impose a 20% tax on cryptocurrency investment profits exceeding 2.5 million won (approximately $1,875) starting in January 2023. However, this timeline was later pushed back to 2025 to allow more time for regulations to be developed within the cryptocurrency industry
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Crypto fraud no more? South Korean province’s new digital tracking system tracks tax evaders’ wallets
A local report has revealed that the provincial tax department has implemented a new digital tracking system in one of South Korea's most important provinces. As the first of its kind in the country, the new system reduces process time and facilitates tracking of debtor-held crypto assets on virtual asset exchanges.
$4.6 million seized with new digital tracking system
On February 22, Yonhap News Agency reported that the Gyeonggi Province Taxation and Justice Office implemented a new system. A digital tracking system makes it “easier” for provincial tax authorities to track cryptocurrency trading accounts held by tax evaders.
Gyeonggi-do is the most populous province in South Korea, with a population of over 13 million. The Gyeonggi-do region has historically held an important political position in the country and is part of the Gyeonggi-do region, also known as the Seoul Capital Region, which consists of the metropolitan areas of Seoul, Incheon, and Gyeonggi-do.
$4.6 million seized with new digital tracking system
On February 22, Yonhap News Agency reported that the Gyeonggi Province Taxation and Justice Office implemented a new system. A digital tracking system makes it “easier” for provincial tax authorities to track cryptocurrency trading accounts held by tax evaders.
Gyeonggi-do is the most populous province in South Korea, with a population of over 13 million. The Gyeonggi-do region has historically held an important political position in the country and is part of the Gyeonggi-do region, also known as the Seoul Capital Region, which consists of the metropolitan areas of Seoul, Incheon, and Gyeonggi-do.
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South Korean Won Remains Second Most Traded Fiat Currency in Bitcoin
The South Korean won occupies a prominent position in the Bitcoin trading market, and despite the recent decline in Bitcoin prices and the reduction in premiums in the Korean market, trading volumes in the South Korean won against Bitcoin have remained strong. Specifically, the South Korean won accounts for approximately 2.07% of global Bitcoin spot transactions, ranking second after the US dollar.
This phenomenon may be affected by many factors. The following is an analysis of this phenomenon:
1. Active cryptocurrency exchanges: South Korea has some of the world's largest cryptocurrency exchanges, such as Bithumb and Upbit, whose trading volumes occupy an important position globally. For example, Bithumb's 24-hour trading volume has reached 5.0402 trillion won, surpassing Upbit, showing the activeness of the Korean market.
This phenomenon may be affected by many factors. The following is an analysis of this phenomenon:
1. Active cryptocurrency exchanges: South Korea has some of the world's largest cryptocurrency exchanges, such as Bithumb and Upbit, whose trading volumes occupy an important position globally. For example, Bithumb's 24-hour trading volume has reached 5.0402 trillion won, surpassing Upbit, showing the activeness of the Korean market.
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🇰🇷 The number of cryptocurrency investors in South Korea has surged, and market volatility has intensified!
The latest report from the Financial Intelligence Unit (FIU) of South Korea shows that the number of cryptocurrency investors in the first half of 2024 surged by 21%, with the total number of domestic investors reaching 7.78 million. This growth is largely attributed to the explosive increase in Bitcoin's value.
Meanwhile, the average daily trading volume in South Korea's virtual asset market also grew by 67%, reaching a record 60 trillion won (4.3 billion USD). In the first half of 2024 alone, the total valuation of this market increased by 27%, reaching 55.3 trillion won (about 40 billion USD).
Male investors account for 68% of the country's cryptocurrency users, particularly men in their thirties who are especially active in the market. Although women make up a smaller proportion of the investor group, their contribution to market growth is gradually increasing.
While most investors in South Korea (about 67% of them) hold cryptocurrencies worth less than 500,000 won (362 USD), there are also 1.3% of investors holding over 100 million won, and 0.03% of high-net-worth individuals holding over 1 billion won in crypto assets.
The report shows that Bitcoin investors in South Korea rank first, followed by ETH, XRP, DOGE, and ETC. At the same time, South Korea plays a key role in global cryptocurrency trading, with its active trading driving global trading volumes to new highs.
The South Korean stock market, on the other hand, has shown high price volatility. The maximum drawdown (MDD) of the South Korean stock market (i.e., the magnitude of price drop from its peak) has increased from 62% in the same period last year to the current 70%.
In contrast, the MDD of the main South Korean index KOSPI during the same period was only 14%. This increase in volatility also highlights the fragility of the South Korean stock market, prompting investors to remain vigilant regarding market dynamics.
The FIU points out that the inflow of funds into U.S. Bitcoin ETFs and presidential candidates' policy positions on digital assets are key factors influencing price fluctuations, and reminds investors to act cautiously amid market volatility.
In summary, although South Korea's cryptocurrency market achieved significant growth in the first half of 2024, this prosperity is also accompanied by high risks and high volatility, requiring investors to manage risks effectively while selecting investment targets and pursuing profits.
#韩国 #加密货币市场 #比特币
The latest report from the Financial Intelligence Unit (FIU) of South Korea shows that the number of cryptocurrency investors in the first half of 2024 surged by 21%, with the total number of domestic investors reaching 7.78 million. This growth is largely attributed to the explosive increase in Bitcoin's value.
Meanwhile, the average daily trading volume in South Korea's virtual asset market also grew by 67%, reaching a record 60 trillion won (4.3 billion USD). In the first half of 2024 alone, the total valuation of this market increased by 27%, reaching 55.3 trillion won (about 40 billion USD).
Male investors account for 68% of the country's cryptocurrency users, particularly men in their thirties who are especially active in the market. Although women make up a smaller proportion of the investor group, their contribution to market growth is gradually increasing.
While most investors in South Korea (about 67% of them) hold cryptocurrencies worth less than 500,000 won (362 USD), there are also 1.3% of investors holding over 100 million won, and 0.03% of high-net-worth individuals holding over 1 billion won in crypto assets.
The report shows that Bitcoin investors in South Korea rank first, followed by ETH, XRP, DOGE, and ETC. At the same time, South Korea plays a key role in global cryptocurrency trading, with its active trading driving global trading volumes to new highs.
The South Korean stock market, on the other hand, has shown high price volatility. The maximum drawdown (MDD) of the South Korean stock market (i.e., the magnitude of price drop from its peak) has increased from 62% in the same period last year to the current 70%.
In contrast, the MDD of the main South Korean index KOSPI during the same period was only 14%. This increase in volatility also highlights the fragility of the South Korean stock market, prompting investors to remain vigilant regarding market dynamics.
The FIU points out that the inflow of funds into U.S. Bitcoin ETFs and presidential candidates' policy positions on digital assets are key factors influencing price fluctuations, and reminds investors to act cautiously amid market volatility.
In summary, although South Korea's cryptocurrency market achieved significant growth in the first half of 2024, this prosperity is also accompanied by high risks and high volatility, requiring investors to manage risks effectively while selecting investment targets and pursuing profits.
#韩国 #加密货币市场 #比特币
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🔥Korean cryptocurrency circle earthquake!
Fake delisting rumors lead to panic selling,
BNB airdrops bring warmth, Hong Kong unlicensed exchanges face zero tolerance, Bitcoin ETF hype cools down!
📢 "Doomsday rumors" appear in Korean cryptocurrency circle! Fake news says that the Korean Ministry of Finance will conduct quarterly reviews of 600 virtual assets and suspend non-compliant token transactions, which scared half of the token prices on exchanges such as Upbit to plummet by 10%-20%! 😱 Investors seemed to be frightened by the story of "the wolf is coming" and sold off one after another, but it turned out to be a false alarm. The Financial Supervisory Agency quickly clarified: We do not directly review tokens, don't panic!
🚀 In this wave of selling, Binance brought warmth to BNB holders! 💖 Launched the BNB HODLer Airdrops event to reward loyal users who hold BNB for a long time. He Yi, the co-founder, announced on social media: "Users holding BNB will benefit, and your loyalty will be rewarded!" It seems that Binance is telling investors with practical actions: Don't be afraid, I'm here!
💸 At the same time, Hong Kong's zero-tolerance policy on unlicensed crypto exchanges also shocked the market! 😲 Last year, two unlicensed exchanges went bankrupt and investors suffered heavy losses. This year, Hong Kong officially kicked out all unlicensed exchanges and required them to stop operating immediately. Regulators warned: Violating regulations is a crime, and we will crack down on it!
📉 Globally, the hype of Bitcoin ETFs also seems to have cooled down. 🌡️ Australia's first Bitcoin ETF had a first-day trading volume of only $1.3 million, far below market expectations. Although Hong Kong's Bitcoin and Ethereum ETFs had a first-day trading volume of $12 million, it was just a drop in the bucket compared to the billions of dollars in the US market. Now, everyone's eyes are on the US Ethereum ETFs, which will be launched on July 2. However, even in the US market, investors have begun to withdraw assets from Bitcoin ETFs.
#韩国 #BNB金鏟子 #香港加密货币ETF #比特币etf #BTC走势分析 $USDC
$SOL $ETH
Fake delisting rumors lead to panic selling,
BNB airdrops bring warmth, Hong Kong unlicensed exchanges face zero tolerance, Bitcoin ETF hype cools down!
📢 "Doomsday rumors" appear in Korean cryptocurrency circle! Fake news says that the Korean Ministry of Finance will conduct quarterly reviews of 600 virtual assets and suspend non-compliant token transactions, which scared half of the token prices on exchanges such as Upbit to plummet by 10%-20%! 😱 Investors seemed to be frightened by the story of "the wolf is coming" and sold off one after another, but it turned out to be a false alarm. The Financial Supervisory Agency quickly clarified: We do not directly review tokens, don't panic!
🚀 In this wave of selling, Binance brought warmth to BNB holders! 💖 Launched the BNB HODLer Airdrops event to reward loyal users who hold BNB for a long time. He Yi, the co-founder, announced on social media: "Users holding BNB will benefit, and your loyalty will be rewarded!" It seems that Binance is telling investors with practical actions: Don't be afraid, I'm here!
💸 At the same time, Hong Kong's zero-tolerance policy on unlicensed crypto exchanges also shocked the market! 😲 Last year, two unlicensed exchanges went bankrupt and investors suffered heavy losses. This year, Hong Kong officially kicked out all unlicensed exchanges and required them to stop operating immediately. Regulators warned: Violating regulations is a crime, and we will crack down on it!
📉 Globally, the hype of Bitcoin ETFs also seems to have cooled down. 🌡️ Australia's first Bitcoin ETF had a first-day trading volume of only $1.3 million, far below market expectations. Although Hong Kong's Bitcoin and Ethereum ETFs had a first-day trading volume of $12 million, it was just a drop in the bucket compared to the billions of dollars in the US market. Now, everyone's eyes are on the US Ethereum ETFs, which will be launched on July 2. However, even in the US market, investors have begun to withdraw assets from Bitcoin ETFs.
#韩国 #BNB金鏟子 #香港加密货币ETF #比特币etf #BTC走势分析 $USDC
$SOL $ETH
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South Korea's central bank chief urges CBDC development to compete with stablecoins
Chang-yong Rhee warns that stablecoins will harm central banks and advocates that CBDCs maintain monetary control.
Bank of Korea Governor Chang-yong Rhee has warned that the rise of stablecoins could pose a major threat to the traditional role of central bank currency and affect the effectiveness of monetary policy, local media have reported.
Rhee made the statement at a digital currency conference held in Seoul on December 15. He added that central banks must step up efforts to issue central bank digital currencies in both retail and wholesale forms to mitigate this looming threat.
Bank of Korea Governor Chang-yong Rhee has warned that the rise of stablecoins could pose a major threat to the traditional role of central bank currency and affect the effectiveness of monetary policy, local media have reported.
Rhee made the statement at a digital currency conference held in Seoul on December 15. He added that central banks must step up efforts to issue central bank digital currencies in both retail and wholesale forms to mitigate this looming threat.
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Bithumb surges to all-time high in South Korea: market share exceeds Upbit by 72%
Bithumb, South Korea’s second largest cryptocurrency exchange, is in fierce competition with Upbit, the market leader.
South Korea’s cryptocurrency landscape has been dominated by Upbit for the longest time. However, a shift seems to be happening as Bithumb gains momentum and gradually takes over Upbit’s market dominance.
The latest development comes amid heightened cryptocurrency trading activity in South Korea, particularly a surge in Bitcoin trading.
Bithumb’s market share peaks at 72%
Cryptocurrency trading activity in South Korea has increased significantly, especially in light of the broader market rally. Trading volumes on the country’s top exchanges, Upbit and Bithumb, both peaked in the first week of January 2024. There is always fierce competition between these exchanges.
South Korea’s cryptocurrency landscape has been dominated by Upbit for the longest time. However, a shift seems to be happening as Bithumb gains momentum and gradually takes over Upbit’s market dominance.
The latest development comes amid heightened cryptocurrency trading activity in South Korea, particularly a surge in Bitcoin trading.
Bithumb’s market share peaks at 72%
Cryptocurrency trading activity in South Korea has increased significantly, especially in light of the broader market rally. Trading volumes on the country’s top exchanges, Upbit and Bithumb, both peaked in the first week of January 2024. There is always fierce competition between these exchanges.
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Analysis report by Korean financial experts: Potential economic risks brought by spot Bitcoin ETF
The launch of a spot Bitcoin (BTC) exchange-traded fund (ETF) in South Korea could cause severe economic disruption, according to a recent analysis by the Korea Institute of Finance (KIF).
Despite the global trend toward approving cryptocurrency-pegged ETF products, the report highlights potential unique challenges that the South Korean market may face.
Potential Risks of South Korea’s Bitcoin ETF
The approval and launch of Bitcoin spot ETFs has become a trend worldwide, and this phenomenon has attracted widespread discussion and attention in the Korean financial community. Lee Bo-mi, a researcher at the Financial Services Agency of Korea, explored in depth the negative impact that Bitcoin ETFs may have on the Korean market in his report "Review of Approval of Overseas Virtual Asset Spot ETFs".
Despite the global trend toward approving cryptocurrency-pegged ETF products, the report highlights potential unique challenges that the South Korean market may face.
Potential Risks of South Korea’s Bitcoin ETF
The approval and launch of Bitcoin spot ETFs has become a trend worldwide, and this phenomenon has attracted widespread discussion and attention in the Korean financial community. Lee Bo-mi, a researcher at the Financial Services Agency of Korea, explored in depth the negative impact that Bitcoin ETFs may have on the Korean market in his report "Review of Approval of Overseas Virtual Asset Spot ETFs".
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South Korean parties pledge pro-crypto policy, favoring ETFs and tax deferrals
Ahead of South Korea’s April election, both the ruling and opposition parties are courting voters with pro-cryptocurrency policies.
South Korea, known for its large cryptocurrency trading scene, may see these election promises have a positive impact on the global cryptocurrency market.
The ruling People’s Power Party has pledged to explore the feasibility of a spot Bitcoin ETF, according to local sources. The party has announced plans to set up a Digital Asset Promotion Committee to recommend legislation and enforcement measures, saying it wants to prioritize establishing a regulatory framework over taxation.
South Korea, known for its large cryptocurrency trading scene, may see these election promises have a positive impact on the global cryptocurrency market.
The ruling People’s Power Party has pledged to explore the feasibility of a spot Bitcoin ETF, according to local sources. The party has announced plans to set up a Digital Asset Promotion Committee to recommend legislation and enforcement measures, saying it wants to prioritize establishing a regulatory framework over taxation.
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The Korean movie "CryptoMan" is based on the LUNA token and its founder, represented in the film by #MOMMY .
Narrative: The late Korean star Song Jae-rim's last film "CryptoMan" will be released on January 15, 2025. In the film, he plays Yang Do Hyun, a business genius who develops virtual currency and creates the token $MOMMY, triggering a $34.9 billion cryptocurrency market collapse, aiming to showcase the social and financial impacts of this crisis.
Highlights: The enthusiasm of Koreans for cryptocurrency will lead to renewed speculation when the movie is released, and the entire country will hear the echo of $mommy!
How to choose quality tokens, the concept of Elon Musk's Dogecoin is a good choice #Marvin community promotion construction, strong consensus
#韩国 #牛市到来 #ETH🔥🔥🔥🔥 $
$SOL $ETH
$BNB
Narrative: The late Korean star Song Jae-rim's last film "CryptoMan" will be released on January 15, 2025. In the film, he plays Yang Do Hyun, a business genius who develops virtual currency and creates the token $MOMMY, triggering a $34.9 billion cryptocurrency market collapse, aiming to showcase the social and financial impacts of this crisis.
Highlights: The enthusiasm of Koreans for cryptocurrency will lead to renewed speculation when the movie is released, and the entire country will hear the echo of $mommy!
How to choose quality tokens, the concept of Elon Musk's Dogecoin is a good choice #Marvin community promotion construction, strong consensus
#韩国 #牛市到来 #ETH🔥🔥🔥🔥 $
$SOL $ETH
$BNB
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The US court made a final judgment on Terraform Labs, and Do Kwon was fined a whopping $4.5 billion
The U.S. District Court for the Southern District of New York has issued a final judgment in the case against Terraform Labs and its co-founder Do Kwon, finding that the defendants violated multiple securities law provisions and imposing strict penalties and restrictions on their future activities.
The lawsuit, filed by the U.S. Securities and Exchange Commission (SEC), has attracted widespread attention.
Verdict
According to court documents on June 12, Terraform Labs and Do Kwon were fined a total of approximately $4.5 billion, including $3.6 billion in illegal gains, $467 million in prejudgment interest, and $420 million in civil penalties. Do Kwon was personally liable for $110 million in illegal gains and $14.3 million in prejudgment interest.
The lawsuit, filed by the U.S. Securities and Exchange Commission (SEC), has attracted widespread attention.
Verdict
According to court documents on June 12, Terraform Labs and Do Kwon were fined a total of approximately $4.5 billion, including $3.6 billion in illegal gains, $467 million in prejudgment interest, and $420 million in civil penalties. Do Kwon was personally liable for $110 million in illegal gains and $14.3 million in prejudgment interest.
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Cryptocurrency evening summary
1. Hezbollah Deputy Secretary General Naim Qassem accused the United States and Israel of committing genocide, claiming that Hezbollah has the right to retaliate and stressed that they have the ability to fight back
2. The U.S. and Philippine armed forces launched a large-scale joint exercise called "Comandag" in key areas of the Philippines, including areas near Taiwan and the South China Sea. These exercises are in response to escalating local issues after the Philippine Fisheries Bureau reported that a Qing "Maritime Militia" ship deliberately rammed a Philippine ship during a routine patrol near Zhongye Island in the South China Sea.
3. The Qing dynasty has spent money again. It built an airport for#Pakistan- Gwadar Airport. Others think that the people of the Qing dynasty are generous, but in fact it is because they have no democratic institutions to express their preferences. Those who understand will understand~
2. The U.S. and Philippine armed forces launched a large-scale joint exercise called "Comandag" in key areas of the Philippines, including areas near Taiwan and the South China Sea. These exercises are in response to escalating local issues after the Philippine Fisheries Bureau reported that a Qing "Maritime Militia" ship deliberately rammed a Philippine ship during a routine patrol near Zhongye Island in the South China Sea.
3. The Qing dynasty has spent money again. It built an airport for#Pakistan- Gwadar Airport. Others think that the people of the Qing dynasty are generous, but in fact it is because they have no democratic institutions to express their preferences. Those who understand will understand~