Bitcoin Retail FOMO Brings a Heap of ‘Kimchi Premium’ to S. Korea

The “kimchi premium” has returned. Price premiums for bitcoin on South Korean exchanges have hit two-year highs, indicating retail investment interest in cryptocurrencies is surging in that country. However, analysts and traders warn that certain market players could take advantage of arbitrage opportunities, resulting in short-term price volatility. The “kimchi premium,”  named for a popular […]

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Alibaba Denies ‘Partnership’ With Lolli, Highlighting Crypto Industry Pitfalls

On Monday, CoinDesk reported the shopping app Lolli was offering bitcoin rewards to U.S.-based Alibaba shoppers for Singles Day. Alibaba Group representatives have since denied the “partnership” touted by Lolli CEO Alex Adelman. The fissure revealed a common misconception in the blockchain industry. “One of Alibaba.com’s contractors hired a subcontractor who brokered an affiliate marketing […]

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China Central Bank Official: Digital Yuan Should Have ‘Controllable Anonymity’ 

China’s proposed new stablecoin project should strike a balance between protecting privacy and regulatory enforcement, China’s Digital Currency Research Institute said Tuesday. Within the People’s Bank of China (PBOC), the Digital Currency Research Institute is part of the central bank’s payments division. Speaking at a conference in Singapore, Changchun Mu said the central bank will not […]

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Hong Kong Regulator to Treat Crypto Traders Like Brokers Under New Rules

Hong Kong’s securities watchdog is to treat cryptocurrency trading platforms like traditional brokers, according to its second round of regulatory guidance for the industry. The Securities and Futures Commission (SFC) released its position paper on virtual asset exchanges Wednesday, announcing a new licensing scheme that it said is not dissimilar from the one applied to Hong […]

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North Korea Set Up a Blockchain Firm to Launder Cash: UN

North Korea has been using a Hong Kong-based blockchain company to launder money, according to a quarterly report from the UN Security Council’s Sanctions Committee on North Korea. As reported by South Korean newspaper Chosun, North Korea employed a shipping and logistics firm called Marine China, which runs on a blockchain platform, to avoid international sanctions […]

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Bitcoin Dissident Sees Dark Warnings in China’s Blockchain Push

China’s recent multi-front embrace of blockchain technology has divided the global cryptocurrency community. While some see it as helpful validation, others worry that crypto is diverging further from its anti-authoritarian roots. Authorities in China have long discouraged investment in grassroots cryptocurrencies like bitcoin. But the world’s most populous country is making significant progress with plans […]

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