South Korean Banks Will Roll Out a Blockchain-Based ID Verification System in July

A group of South Korean will roll out a blockchain-based ID verification system in July, reported Coindesk on June 12. The new system called BankSign will be tested during a three months session from April of this year and is scheduled to be launched in July. Local banks will have the option to replace the existing … Continue reading South Korean Banks Will Roll Out a Blockchain-Based ID Verification System in July

South Korean Government Plans to Re-Legalize ICO

South Korean government plans to re-legalize initial coin offerings (ICOs) through an official recommendation document after imposing a total ban on ICOs in last September, reported local news outlet on May 29. The National Assembly Committee was formed in order to study the 'Fourth Industrial Revolution'. The group will focus on establishing "a legal basis for … Continue reading South Korean Government Plans to Re-Legalize ICO

South Korea Bitcoin Illegal Mining

14 South Korean Operators Arrested For Illegal Bitcoin Mining

14 South Korean operators were arrested for allegedly mining Bitcoin illegally, reported local news Yonhap on April 1. Since May 2017, 14 companies were supposedly mining Bitcoin with a 10% discount on energy using 350 computers in total. Further more, the rooms in which they would mine Bitcoin were rented at a lower price than usual. According … Continue reading 14 South Korean Operators Arrested For Illegal Bitcoin Mining