News & Analysis as of September 21, 2024

Virtual Currency › South Korea

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Virtual Currency (aka Digital Currency or Digital Money) is a type of currency or medium of exchange that is not issued by any government nor guaranteed by a government currency. Despite lacking legal tender status, Virtual Currency is still traded and exchanged in some environments, typically online environments or communities. Bitcoin is the most well-known form of Virtual Currency. less -

Blockchain Week in Review - April 2021 #4

Perkins Coie on 5/7/2021

U.S. Developments - Bipartisan crypto bill passes House of Representatives - Last week, the U.S. House of Representatives passed H.R. 1602, titled “Eliminate Barriers to Innovation Act of 2021.” The bill was first...more

Blockchain Week in Review - November 2019 #3

Perkins Coie on 11/27/2019

U.S. Developments - The Fed Chairman Comments on Potential for a US-backed Digital Currency - Jerome Powell, Chairman of the Federal Reserve, wrote to Congress this week discussing the merits of implementing a central...more

Blockchain Week in Review - October 2018 #3

Perkins Coie on 11/2/2018

FATF Issues Virtual Currency Guidance - On October 19, the Financial Action Task Force (“FATF”) published the outcomes of its Plenary meeting. Included in the outcomes of the meeting were new recommendations related to the...more

Blockchain Week in Review - October 2018

Perkins Coie on 10/9/2018

U.S. Developments - Federal Bank Regulators Issue Joint Statement on Collaborative BSA/AML Compliance - On October 3, 2018, a group of federal bank regulators and the Financial Crimes Enforcement Network (“FinCEN”)...more

South Korea Steps Up Oversight of Cryptocurrency Exchanges

Sheppard Mullin Richter & Hampton LLP on 4/2/2018

In January 2018, the Korea Financial Intelligence Unit (“KoFIU”) and the Financial Supervisory Service (“FSS”) conducted a joint inspection of six Korean banks that provide trading accounts for cryptocurrency exchanges. The...more

Blockchain Week in Review - February 2018

Perkins Coie on 3/23/2018

Below is a summary of some of the significant legal and regulatory actions that occurred over the past week. This alert is not intended to be a comprehensive list of all such developments, but rather a selection of...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 2/6/2018

Markets proved that last Friday’s 600-point Dow drop wasn’t an isolated incident, as all major US indices were down nearly 4% (at least) in a nasty Monday of trading....more

Blockchain Week in Review – January 2018

Perkins Coie on 1/31/2018

U.S. Developments - Regulatory Updates - CFTC and SEC Enforcement Directors Issue Joint Statement Regarding Virtual Currency Enforcement Actions - This morning, the Enforcement Director of the U.S. Commodity...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 1/12/2018

The Times explores the $27 billion in fixed-income-trading income that has seeped out of Wall Street over the past 5 years thanks to “a combination of tough regulations, new technologies, calm markets and changing customer...more

Hacker Steals Millions from Virtual Currency Exchange Bithumb

Robinson+Cole Data Privacy + Security Insider on 7/17/2017

A cyber-attack against–Bithumb–one of South Korea’s largest cryptocurrency exchanges and one of the five largest in the world—has reaped access to the data of 30,000 users and drained their accounts in the process. Bithumb is...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/10/2017

There’s been a bit of a stir in the paint world, with Dutch firm Akzo Nobel rejecting a takeover bid from PPG Industries valued at $22 billion. In a statement, Akzo claimed that the offer “substantially undervalues” the...more

Your Daily Dose of Financial News

Robins Kaplan LLP on 3/7/2017

The SEC is set to decide this week whether to okay a new ETF that could provide investors easier access to bitcoin, a potentially transformative move for the virtual currency....more

Your Daily Dose of Financial News

Robins Kaplan LLP on 2/28/2017

A collection of corporate heavy hitters are betting big on the blockchain technology behind bitcoin rival Ethereum to build a computing system to track data and financial contracts. The project is seen by some as a way to...more

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Virtual Currency › South Korea

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