Several new exchanges to open up in South Korea

Despite new regulations several new exchanges plan to open their service in South Korea
12 February 2018   943

On January 30 South Korean government enforced new regulations for local operating digital currency exchanges. Know-your-client approach forces exchanges to operate with real-name accounts to deposit fiat. This approach left only six major banks with ability to service cryptocurrency accounts, even then the banks as of now are just converting existing accounts and not creating new ones. Only four cryptoexchanges are operating above the law as of now – Bithump, Upbit, Coinone and Korbit. The banks refuse to issue new name accounts for cryptocurrency exchanges citing regulatory uncertainties and security concerns.

But new exchanges aren't deterred by this problem. Even without providing full range of services, namely fiat deposits, two new local exchanges plan to open up shortly.

Zeniex, the new crypto exchange, plans to start its operations on February 12. The launch date was postponed for a month because of the aforementioned regulations, and they wouldn't provide fiat deposits initially. For now investors are restricted to buying only with Bitcoin. From the beginning the exchange will operate with Bitcoin, Bitcoin Cash, Ether, Ethereum Classic, Litecoin, Quantum, EOS, Bytom, and 0x.

Another newcomer to the market is Dexko, which started accepting pre-registration to begin trading on March 15. Initially the exchange will support Bitcoin, Ether, Bitcoin Cash, Litecoin, Ripple and 5 other as of now unspecified cryptocurrencies. Pre-registration is open from February 5 to 25. Pre-registrered users will be exempt from trading fees for a month. Dexko is now going through the legal hassle of official registration to provide won-based trading but we'll have to wait for further news.

Also, two Chinese exchanges are planning to expand their operations to South Korea in the near future. Huobi and Okcoin were two of the largest Chinese crypto exchanges before Chinese government closed down all cryptocurrency trading last year. Okcoin has reportedly reached a final agreement with Korean NHN Entertainment Corp, so that Koreans will operate local server and provide support, while Okcoin themselves will be responsible for providing trading systems. They plan to trade more that 60 different cryptocurrencies against Korean won.

Huobi also plans to enter the market in the first quarter of this year, as reported by the Investor.

Ebang to Unveil New BTC Mining Devices

As reported, 10-nm process technology based Ebang E11 miners can reach 44 TH/s performance
25 September 2018   109

The Chinese manufacturer of mining equipment Ebang Communication revealed details about the new line of E11 devices, CCN reports.

At World Digital Mining in Tbilisi, the company introduced three new devices. Based on the 10-nm process technology Ebang E11 miners can reach 44 TH / s. According to the information on the company's website, new miners will go on sale in the near future.

Ebang Mining Devices
Ebang Mining Devices

On the advertising pic there are new devices: E11 (30TH / s), E11 + (37TH / s) and the most powerful E11 ++ (44TH / s)

Main competitor of Ebang - Bitmain - had introduced a high-performance chip BM1391 last week based on 7nm process technology. It is noteworthy that the device E11 ++ from Ebang in its effectiveness exceeds the flagship chip from Bitmain only 2J / TH.

The first information about the new line of miners from Ebang appeared in August.