KDAC CEO Kim Joon-hong “Cryptocurrency trust, I can’t make money, but I need it”
On the 13th, I went to the Fair Square Lab office in Seocho-gu, Seoul and asked KDAC CEO Kim Jun-hong. “You said that the profit of the cryptocurrency consignment business is so high?” CEO Kim said, “It is difficult to make money realistically with a cryptocurrency consignment business. We are looking forward to various financial products that will appear based on the consignment service.”
“In order for a bank to entrust bitcoin like the US, the Virtual Capital Industry Rights Act is required”
Attorney Seo-hee Han (Barun Law Firm) said in a presentation on the status and regulation of consignment (Custody) in the United States. However, it was predicted that it would be difficult for financial institutions such as banks to participate in cryptocurrency consignment projects in Korea due to the Banking Act and Capital Markets Act.
“Korea should also discuss the introduction of bitcoin futures”-CoinDesk Korea Value beyond trust
As the U.S. bitcoin futures market reduced price volatility and gained the participation of institutional investors and the market’s trust, there were voices that it was necessary to introduce the bitcoin futures market in Korea as well.
At the’U.S. Virtual Asset System and Financial Institution Trends’ presentation jointly held by Democratic Party lawmaker Kim Byeong-wook, CoinDesk Korea, and Korea Blockchain Association on the 19th, attorney Jong-soo Yoon (Law Firm Plaza) said, ‘ He said this through a presentation on the subject’Situation’.
Janet Yellen “Cryptocurrency, the possibility of using terrorism… Watching carefully”
US Treasury Secretary Janet Yellen said at a US Senate Treasury Commission hearing on the 19th that “we are looking carefully (whether cryptocurrency will be used to finance terrorism).”
Liquidity market will end if Tesla and Bitcoin break
With the recent rebound in US Treasury yields and dollar value, Tesla and Bitcoin are drawing attention over whether or not the liquidity market will continue. As Tesla, a symbol of growth, and Bitcoin, which bets on the dollar decline, are at the forefront of the liquidity rally, the risk of liquidity reduction is expected to be reflected first.
Coinbase acquires blockchain infrastructure developer’Bison Trail’
Coinbase, an American cryptocurrency exchange, has acquired a blockchain infrastructure startup to revitalize its own cryptocurrency ecosystem.
Bitfinex “Finishing stage for preparing documents for prosecution”
It is expected that cryptocurrency exchange Bitfinex will be able to submit documents requested by the New York State Attorney (NYAG) in a matter of weeks in connection with the suspicion of secretly lending a deposit of USDT (tether) worth about $850 million. This document was one of the important procedural barriers that the prosecution had to overcome to close the investigation.
Hive, a bitcoin mining company, purchases 6400 additional miners
Bitcoin mining company Hive Blockchain Technologies announced on the 19th (local time) that it has signed a contract to purchase 6400 units of the latest model, Avalon Miner 1246 model from Canaan Creative, a mining machine manufacturer, through a press release.
Short News’Today’
Upbit “Possess 101.07% cryptocurrency and 113.94% deposit compared to customer assets”
As a result of digital assets (cryptocurrency) and deposits held by the cryptocurrency exchange Upbit, it was found that it owns 101.07% of cryptocurrencies and 113.94% of deposits compared to customer deposits. On the 20th, Dunamu (CEO, Seok-Woo Lee), who operates Upbit, disclosed a digital asset and deposit due diligence report that was commissioned by Jian Accounting Firm on the 20th through an announcement from the exchange. An official of Upbit explained, “We have more digital assets and money than we have to pay to our customers. We can pay customers anytime they want.”
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