Here are the 10 most popular articles in CoinDesk Korea in 2020. In the first half of this year, the dark side surrounding the blockchain and cryptocurrency, such as the unfortunate news of Kim Tae-won, CEO of Glossper, the spooky attack of cryptocurrency YouTuber, and the doctoral room incident, stood out.
On the other hand, in the second half of the year, prior to the enforcement of the Revised Specific Financial Information Act (Special Act) in March next year, related discussions continued actively. In addition, as the price of bitcoin exceeded $20,000, various analyzes also received interest.
1. Kim Tae-won, CEO of Glosspur, died
It was confirmed that Kim Tae-won, CEO of Glossper, died. Born in 1985, CEO Kim majored in computer science at Dongguk University, and in 2012 founded Glosspur with his juniors. Glosspur established’Bitware’, a cryptocurrency exchange in 2015, and in the same year developed’BitHere’, the first bitcoin-based international remittance service in Korea. Since then, the blockchain-based Nowon-gu local currency, the Yeongdeungpo-gu Office proposal evaluation system, the Ministry of Maritime Affairs and Fisheries pilot project, and the Gwangju Smart City Challenge were conducted.
2. Cryptocurrency YouTuber’Spunky’ attack
Influencer’Spunky’ Hwang Gyu-hoon, who has been running the cryptocurrency community’Bit Gosu’, was assaulted by a bully in an elevator at his home apartment. Hwang has been broadcasting cryptocurrency on YouTube under the name of’Spunky’s Bitcoin Broadcasting’ in October 2017 after establishing a cryptocurrency marketing company’Bitgosu’.
3. Special Money Act, final passage of the National Assembly… Incorporation of cryptocurrency system rights
The revised bill of the’Specific Financial Information Act (Special Law)’, which introduces the reporting system for cryptocurrency exchanges, passed the National Assembly plenary session. It has been two years since the representative proposal of the Democratic Party, along with Je Yun-gyeong, by the Financial Services Commission’s legislation in March 2018. According to the Act on Special Funds, a virtual asset business operator must have ①’real name confirmation deposit/withdrawal account service’ (virtual currency transaction real name system) and ② information protection management system (ISMS) certification and report it to the Financial Services Agency (FIU) before doing business. I can.
4. [단독]Will the government official’Bitcoin Base Price’ come out?
The Ministry of Strategy and Finance is contemplating a number of measures with the emphasis on specifying the method of calculating the cryptocurrency’base price’ and the subject of disclosure in the enforcement decree of the tax law amendment announced last week. This is because a base price is necessary for taxation of gains on the transfer of cryptocurrency (virtual asset), which is scheduled to be implemented from October next year. If the government establishes a reference price for cryptocurrency, it is expected to be the first case in the world.
5. Jo Joo-bin’s cryptocurrency crime proceeds, when concealed and laundered, was exchanged’live beyond the mountain’
The cryptocurrency used by Mr. Jo Joo-bin (24), who committed sexual exploitation on Telegram for the transaction of ‘Park Sabang’, is the proceeds of crime that must be redeemed, such as confiscation and collection, according to the Supreme Court case. However, due to the nature of the cryptocurrency ecosystem, several difficulties are expected to be found and returned.
6. “There will be 4 exchanges after the special money law”… Bithumb?
The domestic cryptocurrency industry, which was in the gray area of regulation, will be regulated from next March. Since the legal status of virtual assets is created, it is possible to interpret the entry into the institutional sphere, but it is expected that a large number of businesses will be withdrawn from the market.
7. Bitcoin exceeding 100 million won scenario
Corona 19 hit the world, the stock market fluctuated, the unemployment rate skyrocketed, and uncertainty persisted in the global market. However, the price of Bitcoin from $5300 in March has recovered to nearly $18,000 as of writing. The price has risen by 240% in nine months. From a long-term perspective, excluding short-term volatility, I think there is enough potential for Bitcoin price to rise to $500,000 within the next 10 years.
8. Calm price… There was an all-time bitcoin movement under the water
Although the price fluctuation was not large, there was a fairly unusual movement on the blockchain on-chain. In history, a lot of bitcoins came and went to wallets. In one day, 42 trillion won worth of bitcoin was moved, but it was not visible in the market. This is because most of the movement was done without going through the exchange. To date, the most influential hypothesis among cryptocurrency analysts is that Fidelity and Grayscale-level cryptocurrency institutional investors reorganize their wallets to prepare new products.
9. Why do I foresee the end of US dollar hegemony
We are now facing a full paradigm shift. Last month, the US government issued money equivalent to 20% of GDP at once, and for the time being, it will continue to print money this way. Advocates of gold and bitcoin have argued that the central bank will “cheat” the public at any time for political convenience, and something to prove this is actually happening.
10. [단독]Government “up to 10 surviving cryptocurrency exchanges”
Coindesk Korea has secured documents related to the draft enforcement decree of the Special Money Act prepared by the government. This document provides estimates by the authorities that there will be “more than 10” exchanges “capable of meeting the special law reporting criteria.” Even if the reporting criteria are met, the report is not necessarily accepted, so there may be fewer than 10 exchanges that ultimately survive.
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