Korea

The Philippines beseeched Japan, Australia, South Korea to invest in its 'Cryptocurrency Valley of Asia.' CEZA declared this plan last week.

North Korea's hackers and operatives have entirely adopted crypto as a way of circumventing international penalties and collecting funds for the Pyongyang (the country's capital city) regime.

Blockchain technology adoption is growing highly in several nations all over the world, many of which are looking to support its establishment for government use while nations such as the UK, Japan, US and South Korea etc. are trying to regulate the sector to batten security of users.

The chairman of Korea's National Policy Committee and member of the country's governing Democratic Party, Min Byung-Doo, has highly encouraged the government to consider legalizing initial coin offerings (ICO) and to also impose good digital currency-related regulatory frameworks to legitimize the domestic market.

South Korean authorities have decided to establish a blockchain course to help boost development of distributed ledger technology in the country. After an intensive study of the matter, forty-two residents will be immediately set up for a job on the domestic market.

As per The Indian Express, a Bitcoin scam mastermind, Amit Bhardwaj, hosted expensive parties and investor summits in Macau (a Special Administrative Region of the People's Republic of China just west of Hong Kong, previously under Portuguese control) and Dubai (one of the emirates of the United Arab Emirates) only to trick and mislead his investors of their funds.

South Korea's Jeju island is forthputting a great plan to Blockchain zoar wherein Initial Coin Offerings (ICOs) would be accepted in the sovereign province regardless of the ongoing prohibit in the mainland.

The Korea Blockchain Association (KBA), that deals with the inspection of cryptocurrency exchanges, is suffering from overwhelming scrutiny. In May, the regulatory body conducted an in-house examination of 12 digital currency exchanges operating on the country’s crypto market. As a result, 12 out of 12 crypto trading platforms were approved.

South Korea has been swamped reviewing its cryptocurrency regulations. The regulators hope to loosen the rules on cryptocurrency assets in line with G20 famous policies. Another government agency is managing an in-situ inspection of cryptocurrency firms following several hacks and this has attempted the Bank of Korea to issue out a report with its major focus on using cryptocurrency as an alternative means of payment.