Crypto Exchange Korbit Fined $1.90 Million By South Korean Regulators
South Korea’s top money-laundering watchdog has slapped crypto exchange Korbit with a fine worth about ₩2.73 billion, or roughly $1.90 million, after finding widespread lapses in its compliance controls. According to regulator statements and multiple news reports, the move follows an on-site inspection that uncovered thousands of rule breaches and several risky transfers abroad. Regulatory…
Bitcoin Trades Below Global Prices In South Korea, Erasing Long-Standing ‘Kimchi Premium’ – Here’s Why
Bitcoin (BTC) is trading slightly lower in South Korea compared to the global cryptocurrency markets due to a reverse ‘kimchi premium,’ not seen since October 2023. Reverse ‘Kimchi Premium’ Makes Bitcoin Cheaper In South Korea According to a report by The Korea Times, there is a price differential of more than $500 between Bitcoin’s price…