South Korean automobile manufacturer Hyundai announced on Monday that it has partnered with the “Meta Kongz” nonfungible token (NFT) project to create a limited collection of 30 NFTs launching sometime in May 2022. Hyundai also created a new Twitter handle, @Hyundai_NFT, for its NFT-related communications and posted a video showing an animated Meta Kong riding through space in a 1975 Hyundai PONY. Hyundai x Meta Kongz introduces Hyundai Metamobility universe. Check out this aweeeesome creature’s breathtaking adventure with Hyundai PONY.@Hyundai_Global @meta_kongz pic.twitter.com/w0iLPHxe5d — Hyundai_NFT (@Hyundai_NFT) April 17, 2022 Included in the announcement was a teaser for a further “Shooting Star …

Kakao Piccoma, a Japanese digital comics' subscription service and subsidiary of the Korean internet company Kakao, has purchased a 50% controlling stake in the Japanese cryptocurrency exchange, Sakura Exchange Bitcoin (SEBC). That makes Kakao its largest shareholder and the deal is also expected to help Kakao offer cryptocurrency services on its Piccoma webtoon platform, and expand aggresively into Web3, according to local media reports. Piccoma is the largest webtoon platform in Japan, and in 2021 its app marked $1 billion in consumer spend after six years in the Japanese market. The amount Kakao paid for its stake in the exchange …

South Korea’s reputation as a trend-setter and leader in technological research is quickly spilling into the blockchain realm as nonfungible token (NFT) adoption has skyrocketed in the small East Asian country. As of 2020, South Korea has been among the top-10 countries in the world in the Global Innovation Index by the World Intellectual Property Organization. That level of innovation is made apparent to global retail consumers by tech giants such as Samsung and LG and to gamers through game maker Krafton. Those companies, and many like them, are now also delving into the NFT space by dropping new collections …

South Korean tech giant LG Electronics has officially added blockchain and cryptocurrency as new business areas in its corporate charter. According to a local South Korean news report, LG added two distinct crypto-related objectives during its annual general meeting on Thursday, March 24. The objectives include “the development and selling of blockchain-based software” and “the sale and brokerage of cryptocurrency,” which led to conjecture whether LG would establish some form of crypto exchange. When asked about the company’s intention to start its own exchange or platform, an LG spokesperson tempered any speculation, stating, "Nothing has been decided yet. We just …

South Korean crypto exchanges have reached the government-mandated deadline to come into compliance with the so-called Travel Rule, but not all industry players are pleased with the measure. Starting today, Korean exchanges will flag any crypto transfers worth more than roughly $821. Transfers higher than that value will be restricted to user-verified wallets and a select number of exchanges that have adopted their anti-money laundering system. The Travel Rule is a set of guidelines issued by the international financial watchdog Financial Action Task Force (FATF) designed to help authorities track the movement of virtual assets between virtual asset service providers …

Amid the United States and the European Union taking measures to prevent Russia from using cryptocurrencies for potential evasion of sanctions, some countries in Asia have also been moving to respond to the situation. Japan to fine crypto exchanges for violating sanctions Japan became the latest country in Asia to call cryptocurrency firms to comply with sanctions against Russia, requesting them on Monday to not process crypto transactions involving sanctioned individuals or entities in Russia and Belarus. The Japanese Financial Services Agency (FSA) and the Ministry of Finance issued a joint statement on sanctions against Russia, stressing that crypto is …

As Russia’s self-styled “special operation” against Ukraine continues, crippling economic sanctions remain the Western powers’ primary weapon to counter Russia’s military actions without triggering an even more dramatic escalation. As NATO and allies’ financial offensive unfolds, ensuring that the collective West presents a united front remains political leaders’ chief concern. The global crypto industry keeps getting suspicious looks as some agents of state power are seemingly entrenched in their beliefs that digital assets could be the weak spot undermining the efficiency of the sanctions push. Despite ample evidence to the contrary — including the FBI director’s Congress testimony — there …

Conservative South Korean presidential candidate Yoon Suk-yeol has officially been elected as South Korea’s next president. The election was one of the closest in South Korean history, according to BBC coverage, which saw Yoon, representing the conservative People Power Party, claim victory over his more politically progressive opponent, Lee Jae-myung, by a margin of less than 1%. Cryptocurrency played a leading role in South Korea’s election debate, with both candidates releasing campaign-related NFTs. Their crypto-sympathetic stances are in opposition to former-President Moon Jae-In’s crackdown on crypto exchanges last year, and helped curry favor with the younger, more crypto enthusiastic demographic. …

NFT platform HeyLayer has partnered with the Stacks Foundation to host an event in the vSpace Metaverse to celebrate International Women’s Day. The ‘HerNFT’ event will feature the work of more than 30 women nonfungible token (NFT) artists, including Goldy Succi, Mother Pop, Kaylee Hawley, and others. Their work on the Stacks blockchain will be on display in a virtual gallery curated specifically for this event which starts on March 8. Participants in the event will be able to purchase NFTs on the HeyLayer Marketplace. 2.5% of sales from the event will be donated to the Just Love Film Academy …

The Korea Digital Asset Industry Committee comprising of leading Blockchain experts in South Korea has called for the formation of a government committee dedicated to helping and advancing digital asset businesses in the country. The group of experts gathered on Thursday to discuss various ways in which Korea could become a leading digital asset market and what role the should government play to achieve that. The experts believed that blockchain and cryptocurrencies would become pivotal tools for the fourth industrial revolution. The blockchain experts called upon the government to support the nascent cryptocurrency industry along with other emerging use cases …

After spending years ridiculing Bitcoin and cryptocurrency, Wall Street’s billionaire class is finally warming up to the idea of virtual assets powering the digital economy. This week, Citadel founder and billionaire Ken Griffin formally backtracked on his anti-crypto stance as he announced that his firm would begin offering digital assets to its clients. Of course, Griffin isn’t the only wealthy investor to have a change of heart, so we’re not going to bust his chops too much. So, while crypto analysts continue to debate about whether we are in a bull or bear market, institutions, venture capitalists and ordinary people …

South Korea’s crypto market grew to 55 trillion Won ($45.9 billion) by the end of 2021, as per a new study from the country’s chief financial regulator, the Financial Service Commission. South Korea is considered among the strictest crypto markets in terms of regulatory policy implementations and made regular headlines throughout 2021 for its new travel rule and Know Your Company requirements. However, the Korean crypto market has bloomed to new heights despite the regulatory scrutiny in 2021. The FSC analyzed transaction data from the 24 licensed crypto exchanges and revealed that daily transactions on Korean crypto exchanges reached 11.3 …