Korean | Crypto

South Korean retail investors are becoming a significant driver of Ether’s growing value, alongside global institutional investors and corporate treasuries, Mow said. South Korean retail investor capital is fueling Ether’s price momentum and the rise of corporate Ether treasury firms, according to industry insiders, as the world’s second-largest cryptocurrency trades just 7% below its all-time high. The “only thing” keeping the Ether (ETH) price and Ether treasury companies at their current levels is about $6 billion worth of Korean retail capital, according to Samson Mow, CEO of Bitcoin technology company Jan3. “ETH influencers have been flying to South Korea just to market to retail. These investors have zero idea about the ETHBTC chart and think they’re buying the next Strategy play,” said Mow in a Monday X post, warning that this “won’t end well.” Read more

South Korean lawmaker’s bill would make ICOs legal again. Chinese state firm deletes posts about $70M worth of RWAs on Ethereum. Asia Express. A South Korean lawmaker has introduced draft legislation to create a framework for cryptocurrencies, including legalizing initial coin offerings (ICOs) and setting rules for stablecoin issuance. The proposal, announced Thursday by ruling Democratic Party lawmaker Lee Kang-il, would lift South Koreas ban on ICOs. The nation banned the fundraising method in 2017 during a speculative frenzy remembered as the ICO boom. The prohibition pushed Korean projects to launch tokens overseas. Lees bill seeks to replace the blanket prohibition with a disclosure-based regime. The draft law defines the digital asset sector as an independent industry, dividing it into nine business categories that include trading, brokerage, custody, payments and investment management. Trading and brokerage firms would require licenses, while other activities would operate under a registration system. ...

South Korean lawmaker’s bill would make ICOs legal again. Chinese state firm deletes posts about $70M worth of RWAs on Ethereum. Asia Express. A South Korean lawmaker has introduced draft legislation to create a framework for cryptocurrencies, including legalizing initial coin offerings (ICOs) and setting rules for stablecoin issuance. The proposal, announced Thursday by ruling Democratic Party lawmaker Lee Kang-il, would lift South Koreas ban enacted in 2017 during a speculative frenzy remembered as the ICO boom. The prohibition pushed Korean projects to launch tokens overseas. Lees bill seeks to replace the blanket prohibition with a disclosure-based regime. The draft law defines the digital asset sector as an independent industry, dividing it into nine business categories that include trading, brokerage, custody, payments and investment management. Trading and brokerage firms would require licenses, while other activities would operate under a registration system. Read more

South Korea’s BDACS has rolled out institutional custody support for XRP, following its partnership with Ripple and integration with top South Korean exchanges. South Korean crypto custodian BDACS has launched institutional custody support for XRP following its February partnership agreement with Ripple. The move provides institutions with regulated access to one of the world’s most actively traded digital assets. The rollout, announced via BDACS’s X account on Tuesday, enables institutions to securely store and manage XRP (XRP) using Ripple Custody, Ripple’s enterprise-grade custody solution. “We’re thrilled to offer custody support for XRP, one of the most popular digital assets in Korea, to our institutional clients,” BDACS wrote. “This launch strengthens our long-standing partnership with Ripple and underscores our commitment to the Korean market.” Read more