Trading Volume on South Korean Crypto Exchange Upbit Crashes 75%
Upbit’s 24-hour crypto trading volume stood at $3.79 billion at press time, down 75% from the high of $15 billion on March 5, CoinGecko data show.
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Upbit’s 24-hour crypto trading volume stood at $3.79 billion at press time, down 75% from the high of $15 billion on March 5, CoinGecko data show.
The KOSPI trading volume recorded 11.4794 trillion won on Mar.8, compared to nearly 12 trillion won on local crypto exchanges on Sunday.
The U.S. will appeal the ruling of a Montenegro Court to hand Terraform Labs co-founder Do Kwon to South Korea, according to Bloomberg.
Kwon successfully appealed a previous decision by the same court to send him to the U.S. instead.
South Korea’s most populated province, Gyeonggi, has collected $4.6 million from crypto tax evaders, it announced on Thursday, according to a local report by Yonhap News Agency.
Further review and consideration regarding crypto ETFs is planned, the regulator says.
The Financial Services Commission cited concerns “about illegal outflow of domestic funds overseas due to card payments on overseas virtual asset exchanges.”
Public officials will also be provided an asset disclosure service starting next year to report crypto and other holdings.
The two aim to strengthen cooperation on crypto regulations before South Korea’s new crypto laws go into effect next year.
Stablecoins’ widespread usage and frequent instability could lower the effectiveness of central bank monetary policies, Rhee Chang-yong said.