South Korea's First Multisig Bitcoin Wallet Launches
Coinone has become the first bitcoin exchange in South Korea to launch a multi-signature wallet, using BitGo's API. In a statement, Coinone CEO Myunghun Cha said it was time for exchanges to provide the equal level of safety and control as multi-sig wallet providers. He continued: We decided that multi-sig technology from BitGo was the answer to many security concerns facing exchanges and wallets. With its implementation, we hope to bring in more users from the national and international pool of bitcoin users.
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Today, 13% of Bitcoin is protected by multisig technology. A growing minority of Bitcoin users employ a multi-signature wallet, which uses more than one private key to access the wallet. By using this approach, wallets are much less vulnerable to security breaches, as no single party possesses all the information necessary to decrypt the wallet. Princeton professor Arvind Narayanan tweeted about the significance of the multisig uptick: More cryptocurrency wallets offering multisig support. More Bitcoin wallet providers have recently enabled multisig functionality, as it seems to be headed....
In an announcement via email newsletter today, Korbit, a South Korean Bitcoin exchange and wallet announced it is the first launching partner within South Korea to integrate BitGo Instant into their Bitcoin transfer and remittance protocol. BitGo is a Bitcoin security company that offers a multi-sig wallet and now BitGo Instant. Korbit is one of the most popular and widely used Bitcoin wallets and exchanges in South Korea. They currently offer a way to buy Bitcoin through regular ATM transfer transactions from major banks in South Korea. Now partnered with BitGo Instant, Korbit will add a....
South Korean bitcoin exchange and merchant software developer Coinplug has released three iOS mobile wallet apps, becoming the first company to release bitcoin mobile apps for iPhones in Korea. Three versions of its wallet are available in the App Store. The functionality of each is tailored to different levels of users' exposure to and knowledge of bitcoin. Bitcoin Wallet Plus: Coinplug's basic mobile app aimed at iPhone users who want to own, buy, sell and trade bitcoins at market price and limit price. Bitcoin Wallet: the basic, 'lite' version for users who only want to send, receive....
South Korea’s top financial regulators have launched an emergency investigation into the collapse of cryptocurrency LUNA and stablecoin UST. The authorities have asked domestic cryptocurrency exchanges to provide information relating to transactions and investors of the two coins.
South Korea’s Emergency Investigation Into LUNA, UST
South Korea has launched an “emergency” investigation of domestic crypto exchange operators following the collapse of the terrausd stablecoin (UST) and terra (LUNA) cryptocurrency, Yonhap News reported Tuesday, citing....
Amid the ongoing controversy surrounding virtual asset taxation in the country, South Korea’s Financial Authority recently proclaimed non-fungible tokens (NFT) as taxable. On Tuesday, The Financial Services Commission (FSC) of South Korea, announced that it would start taxing NFTs. According to The Korea Herald, from January next year, this tax law amendment would impose a […]