As we all know how the Bitcoin has been reaching sky high prices,there is some fresh update for all BTC lovers which is hopefully going to put the BTC and Ether prices uppppp !

South Korea to regulate and legalize Bitcoin and Ethereum

According to various news outlets, a Korean lawmaker and member of the country’s ruling Democratic Party, named Park Yong-jin, is currently reviewing the Electronic Financial Transaction Act, which will now require cryptocurrency trading companies to retain capital of at least $436,000, as well as implement strict AML and KYC systems.

According to CoinTelegraph this won’t be a problem, as the country’s biggest exchanges are backed by billion dollar corporations and venture capital firms. Moreover, these exchanges are already well-known for their strict verification processes, and as such integrating strict AML and KYC systems is certainly not going to be a challenge.

With all good news comes some bad news. Shocking but it's true-

Bithumb, South Korea’s largest Bitcoin exchange, has been hacked

According to reports South Korea’s biggest Bitcoin exchange by trading volume has been hacked, and personal data belonging to about 3% of its members, roughly 31,000 users, has been lost. Reports suggest the hack was possible due to an employee’s personal computer being compromised. This computer was used by hackers to steal user data, which was then used by « to call customers and request their Google Authenticator codes, as hackers claimed they were required to execute withdrawals.

Bithumb has already offered a compensation of 100,000 won (about $86.7) to affected customers. Moreover, it is to reimburse funds lost because of the incident, which dates back to February.