Altcoin News Official TheBitTimes.com

South Korea is looking to remove restrictions on local institutions trading cryptocurrencies, according to a report by Yonhap news agency on Wednesday, citing the Financial Services Commission (FSC). “We will work to align with global regulations in the virtual asset market,” stated South Korea’s FSC Secretary-General Kwon Dae-young. Institutional Investors Will Be Able To Create Accounts On Crypto Exchanges The FSC, South Korea’s primary financial regulator, stated that it would relax its restrictions on institutional investors to trade crypto, allowing them to create trading accounts on cryptocurrency exchanges. By doing this, the regulator aims to collaborate closely with the Digital Asset Committee, a policy advisory group under the FSC, beginning with permitting non-profit organizations to participate. Currently, only individual investors verified with their real-name accounts are permitted to trade Bitcoin and other cryptocurrencies. South Korea didn...

1. Rich Dad Poor Dad Author: Currently Holds 73 Bitcoins, Aims for 100 by Next Year link Rich Dad Poor Dad author Robert Kiyosaki tweeted that he purchased his first Bitcoin at $6,000 and, even with the price now at $76,000, he plans to continue buying. He currently holds 73 Bitcoins and aims to own 100 within a year. Kiyosaki also stated, “I own a lot of income-generating real estate, have gold mining assets, and store my profits in Bitcoin, gold, and silver coins… this is ‘real money.’” 2. Binance Named Top in “Blockchain and Crypto” on Fortune’s 2024 Asia Fintech Innovators List link Fortune has released its inaugural “2024 Asia Fintech Innovators” list, with Binance ranking first in the “Blockchain and Crypto” category, followed by OKX in second place, and Hashkey Group and Gate in fifth and sixth, respectively. The list showcases 60 of the most dynamic financial services companies in one of the world’s fastest-growing regions. 3. South Korea’s Financial Regulator Tightens Monitori...

Over the past few days, South Korea n prosecutors have been seeking the arrest of Kang Jong-hyun, the de-facto owner of Bithumb . Kang and two other executives were charged with embezzlement, breach of trust, and fraudulent illegal transactions under the Capital Markets Act, i.e. stock manipulation in this case. On Thursday, local news outlet JTBC revealed that prosecutors have arrested Kang. The report noted, “ Kang is accused of conspiring with a business partner to manipulate stock prices and stealing 60 billion won [$48.6 million] from his company. “ Kang Jong-hyun is the elder brother of Kang Ji-yeon, the head of Bithumb affiliate Inbiogen. The said firm holds the largest share [34.2%] in Vidente Co., the biggest shareholder of Bithumb . The siblings reportedly conspired to pocket corporate funds and influence the stock prices of Inbiogen and video production firm Bucket Studio by issuing convertible bonds. Also Read: Decentralized Twitter ‘Killer’ Nost...