Currencies33111
Market Cap$ 3.09T+0.36%
24h Spot Volume$ 60.34B-1.64%
DominanceBTC60.67%+0.13%ETH7.05%+0.54%
ETH Gas0.71 Gwei
Cryptorank
MainNewsCrypto Fund ...

Crypto Fund Recovery in South Korea Marks New User Protection Step


by Ikemefula Aruogu
for CoinEdition
Digital Asset Protection Foundation Begin Funds Recovery From Failed Exchanges
  • Digital Asset Protection Foundation is receiving deposits from failed operators.
  • The Foundation aims to protect the rights and interests of digital asset users.
  • Deposits received from Apro Korea, Ten & Ten, Hanbitco, Qbit, and Pay Protocol AG.

South Korea’s Digital Asset Protection Foundation is now accepting deposits from crypto service providers that have shut down. The foundation recently announced that it has received deposits from five operators: Apro Korea, Ten & Ten, Hanbitco, Qbit, and Pay Protocol AG.

The foundation’s chairman, Kim Jae-jin, explained that this initiative aims to protect the rights and interests of digital asset users. He stated that the foundation will help digital asset exchanges meet their obligations to users when they close down.

In the meantime, the Foundation plans to finalize negotiations with up to eight terminating digital asset operators before the end of this year. Any operator satisfying the Foundation’s requirements will transfer customers’ won deposits it received. That process would precede the implementation of the real-name verification deposit and withdrawal system, which the firms would also transfer to the Fo…

The post Crypto Fund Recovery in South Korea Marks New User Protection Step appeared first on Coin Edition.

Read the article at CoinEdition

Read More

South Korean Man Gets 7 Years for $311 Million Crypto Scheme Fraud

South Korean Man Gets 7 Years for $311 Million Crypto Scheme Fraud

In a sign of increasing regulatory scrutiny within South Korea, an appeals court has ...
South Korean Traders Flock to XRP, TRUMP as Upbit Volume Exceeds $3.3 Billion

South Korean Traders Flock to XRP, TRUMP as Upbit Volume Exceeds $3.3 Billion

Trading activity surged on South Korea’s top crypto exchange, Upbit, with XRP gaining...
MainNewsCrypto Fund ...

Crypto Fund Recovery in South Korea Marks New User Protection Step


by Ikemefula Aruogu
for CoinEdition
Digital Asset Protection Foundation Begin Funds Recovery From Failed Exchanges
  • Digital Asset Protection Foundation is receiving deposits from failed operators.
  • The Foundation aims to protect the rights and interests of digital asset users.
  • Deposits received from Apro Korea, Ten & Ten, Hanbitco, Qbit, and Pay Protocol AG.

South Korea’s Digital Asset Protection Foundation is now accepting deposits from crypto service providers that have shut down. The foundation recently announced that it has received deposits from five operators: Apro Korea, Ten & Ten, Hanbitco, Qbit, and Pay Protocol AG.

The foundation’s chairman, Kim Jae-jin, explained that this initiative aims to protect the rights and interests of digital asset users. He stated that the foundation will help digital asset exchanges meet their obligations to users when they close down.

In the meantime, the Foundation plans to finalize negotiations with up to eight terminating digital asset operators before the end of this year. Any operator satisfying the Foundation’s requirements will transfer customers’ won deposits it received. That process would precede the implementation of the real-name verification deposit and withdrawal system, which the firms would also transfer to the Fo…

The post Crypto Fund Recovery in South Korea Marks New User Protection Step appeared first on Coin Edition.

Read the article at CoinEdition

Read More

South Korean Man Gets 7 Years for $311 Million Crypto Scheme Fraud

South Korean Man Gets 7 Years for $311 Million Crypto Scheme Fraud

In a sign of increasing regulatory scrutiny within South Korea, an appeals court has ...
South Korean Traders Flock to XRP, TRUMP as Upbit Volume Exceeds $3.3 Billion

South Korean Traders Flock to XRP, TRUMP as Upbit Volume Exceeds $3.3 Billion

Trading activity surged on South Korea’s top crypto exchange, Upbit, with XRP gaining...