Binance to Help South Korean City of Busan Grow Crypto Adoption, Develop Bloc...
Binance is helping the South Korean city of Busan “grow crypto adoption within the city and beyond.” The global crypto exchange will also support the development of the city’s blockchain ecosystem and the Busan Digital Asset Exchange. Binance Signs MOU With Busan City Cryptocurrency exchange Binance announced Friday that it has signed a Memorandum of Understanding (MOU) with Busan Metropolitan City. Busan, located on the southeastern tip of the Korean peninsula, is the second largest city in South Korea with approximately 3.4 million residents. “As part of the....
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South Korea's 'Blockchain' city of Busan continues to establish partnerships to foster the growth of the cryptocurrency industry. South Korea’s second-largest city Busan has announced a partnership with crypto trading platform FTX to build a local crypto exchange and foster blockchain development.Sam Bankman-Fried’s FTX will assist in creating the Busan Digital Asset Exchange as per an official statement from the Busan Metropolitan City on Aug. 30. The Bahamian-based firm will also support the city in fostering the growth of the local blockchain industry.Busan City will make use of FTX’s....
Huobi Global is the third major cryptocurrency exchange to pen a blockchain ecosystem development agreement with the South Korean city. South Korea’s ‘blockchain’ city of Busan continues to establish agreements with cryptocurrency industry heavyweights as Huobi Global enters the development ecosystem.Huobi Global and its Korean branch became the latest exchange to sign a memorandum of understanding with the Busan Metropolitan City government to participate in the growth of its blockchain industry.According to an official announcement from Huobi, the partnership will see the company provide....
The South Korean crypto frenzy among the banking industry remains on fire, as another major bank is treading waters to offer banking services for crypto exchanges. The BNK Busan Bank launched a program that consists of visiting competitors’ banks that already offer it. BNK Busan Is Visting Its Competitors to Conduct the Research According to the Busan.com news outlet, the bank researches how these financial institutions deal with the crypto exchanges amid the forthcoming regulation. As the banks provide fiat services to the crypto businesses, the legislation set to promulgate on....
Crypto exchange Binance has announced a discontinuation of South Korean Won trading pairs and language support. Crypto Exchange Binance Pulls Out Of South Korea As per an announcement on the firm’s website, the platform no longer offers support for certain South Korea-related services. These discontinued Binance services include South Korean Won (KRW) trading pairs, KRW […]
Crypto tax evasion is becoming a hot potato for the authorities in some Asian countries, such as Japan and South Korea. A South Korean city is now actively fighting against tax evaders who are suspiciously reporting meager earnings in their filings. 511 Individuals in the Authorities’ Eyes According to Gugkje News, the authorities of Gyeongju, in North Gyeongsang Province, are aware of several possible cases of crypto tax evasion where individuals are reportedly hiding money into cryptocurrencies without reporting them before the tax authorities. As the new “Specific Financial....