Contributor
Danny is a journalist at Forkast.News. Originally from South Korea, Danny has produced content for media companies in Korea, Hong Kong and China. He holds a Bachelor of Journalism and Business Marketing from the University of Hong Kong.
Regulation
A South Korean professor, formerly a committee member in current president Moon Jae-in’s presidential campaign, has been sentenced to two years in prison for promoting a scam cryptocurrency. Fast facts According to local reports, the professor and former advisor to Moon Jae-in’s 2017 electoral campaign was sentenced to two years in jail on fraud charges […]
Danny Park
Regulation
Despite a looming compliance deadline, currently there are no crypto exchanges in South Korea that meet the new government reporting requirements to continue operating, according to financial authorities. Fast facts The Financial Services Commission (FSC) revealed through a press release that none of the domestic cryptocurrency trading platforms have successfully complying with the nation’s new […]
Danny Park
Regulation
Busan, the “blockchain city” of South Korea, is in the early stages of building its own platform for digital asset transactions. Fast facts According to Coindesk Korea, Busan city has started setting up detailed plans and strategies in establishing a digital asset exchange. Its plans include building an ecosystem for securities token-based digital asset transactions […]
Danny Park
Regulation
New data provided by lawmaker Kim Hee-gon shows a significant decline in new users and the amount of transactions on the four largest cryptocurrency exchanges in South Korea. Fast facts The data aggregated by the four largest crypto exchanges in Korea — Upbit, Bithumb, Korbit and CoinOne — shows that their total of new users […]
Danny Park
Regulation
South Korea’s Financial Services Commission revealed today that it had discovered 14 bank accounts used by virtual asset exchanges that had been registered in names that were not those of the exchanges themselves. Fast facts It is not legal for crypto exchange bank accounts held under other names to accept customers’ funds on behalf of […]
Danny Park
Regulation
The Korea Fair Trade Commission has advised eight cryptocurrency exchanges to changes terms and conditions in their user agreements that it deems unfair to customers. Fast facts The commission discovered 15 types of terms and conditions that it said were unfavorable to customers. One condition stipulated that balances of less than a minimum withdrawal amount […]
Danny Park
Regulation
South Korea’s newly amended tax law will allow authorities to collect delinquent taxes hidden in cryptocurrency cold wallets. Fast facts The Ministry of Economy and Finance yesterday announced the 2021 Tax Law Amendment, which grants authorities the power to seize delinquent taxes transferred to crypto holdings. The seized crypto will be sold on exchanges and […]
Danny Park
Crypto Trading and Strategies
A cryptocurrency-themed TV drama series with a historical twist is currently in production in South Korea, depicting the make-believe arrival of a cryptocurrency in the country’s ancient Joseon Dynasty. Fast facts “The Age of Money,” as the show will be known, follows a fictional king trying to get to the bottom of an “invisible” brass […]
Danny Park
Conference Summaries
The cryptocurrency community is watching Ethereum closely, with the EthCC event in Paris having wrapped up, Ether prices showing new strength and the London upgrade just around the corner.
Danny Park
NFTs and Art
Seoul’s Kansong Art Museum has announced a plan to turn Hunminjeongeum, a book documenting the principles of the Korean alphabet — a national treasure in South Korea — into a limited edition of 100 non-fungible tokens that will be sold for around US$87,000 each. Fast facts On July 22, the Kansong Art and Culture Foundation […]
Danny Park
