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South Korea has joined a number of regulators and governments attempting to dampen bitcoin fever, in the case of the Seoul government by considering banning digital currency exchanges in its jurisdiction. In doing so, it would be going even further than China which, as reported in International Investment, is planning to turn off cheap power […]
An announcement on the People’s Bank of China’s website on Monday that it was to ban the practice of raising funds for investment by selling new cryptocurrencies hit the value of bitcoin hard on Monday, numerous media organisations reported, with CNBC saying it fell by US$200, to around $4,350 per bitcoin. Bloomberg said bitcoin “tumbled […]
South Korea’s financial regulator has announced that it will step up monitoring of digital currencies operating within its shores, as well as carrying out probes into money laundering, unauthorised financing and other illicit transactions that such currencies might be helping to facilitate. In preparing to regulate cryptocurrencies, South Korea is joining Japan, China and other […]
South Korea’s financial regulators last week approved plans by Goldman Sachs and the Royal Bank of Scotland to shut down their branch banking operations in South Korea, according to local reports. Goldman Sachs and Royal Bank of Scotland have been working to exit South Korea as part of their cost-cutting efforts, Yonhap News Agency reported. Goldman […]
The head of South Korea’s financial services regulator vowed today to step up efforts keep foreign banks and other financial services firms from leaving, in the wake of a number of high-profile departures. “It’s worrisome that the branches of some foreign financial companies have withdrawn or scaled down their operations,” Jeong Eun-bo, vice chairman of […]
The chairman of South Korea’s Financial Services Commission, who has previously spent time in the UK as a diplomat with the Korean Embassy in London, has taken the unusual step of detailing his country’s recent reforms to its financial sector in a comment piece published yesterday on the website of the Wall Street Journal. “Since […]
South Korea-based Shinhan Bank is targeting high-income expats living in Seoul, with the opening of a new financial services centre in the city, the English language Korea Times has reported. The new service, called the Shinhan International Finance Center, will open for business on Friday, and will be manned by five private bankers, according to the report. […]
Emerging markets equities were volatile amid macro stresses in 2014, but rose 2.5% for the year through November. Sharp oil price declines in December tipped the scales and, as investor confidence wavered, the MSCI Emerging Markets Index went from year-to date gains at November-end to a 2.2% loss for the full year in US dollar […]
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