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NFTs
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This Country Might Become First To Impose Tax on NFTs

Crypto taxation has become a key part of the discussion in the regulatory debate, on one hand, some countries are imposing capital gain taxes based on existing rules while on the other hand, a few nations have framed new tax regulations on crypto transactions. South Korea is one such nation that is currently leading the

Crypto taxation has become a key part of the discussion in the regulatory debate, on one hand, some countries are imposing capital gain taxes based on existing rules while on the other hand, a few nations have framed new tax regulations on crypto transactions. South Korea is one such nation that is currently leading the

The Financial Services Commission (FSC) in South Korea has insisted that nonfungible tokens (NFT) are not classified as virtual assets
Regulation News
The Financial Services Commission (FSC) in South Korea has insisted that nonfungible tokens (NFT) are not classified as virtual assets
Regulation News

South Korea Will Not Regulate NFTs — FSC

The Financial Services Commission (FSC) in South Korea has insisted that nonfungible tokens (NFTs) are not classified as virtual assets, and hence will not be regulated. The financial regulator said this in a public statement issued earlier today. South Korea Decides ‘No Regulation’ For  NFTs FSC’s decision not to regulate NFTs follows shortly after reviewing

The Financial Services Commission (FSC) in South Korea has insisted that nonfungible tokens (NFTs) are not classified as virtual assets, and hence will not be regulated. The financial regulator said this in a public statement issued earlier today. South Korea Decides ‘No Regulation’ For  NFTs FSC’s decision not to regulate NFTs follows shortly after reviewing

According to recent Google Trends data, people from the Asia-Pacific (APAC) region of the world were the most interested in the word “NFT”, over the past year.
Blockchain
According to recent Google Trends data, people from the Asia-Pacific (APAC) region of the world were the most interested in the word “NFT”, over the past year.
Blockchain

APAC Ranks First On Global List of Regions Interested In NFT

According to recent Google Trends data, people from the Asia-Pacific APAC region of the world were the most interested in the word “NFT”, over the past year. Possibly as a result of the ongoing nonfungible token (NFT) boom, people from China, Hong Kong, and Singapore had the highest number of Google searches for the keyword

According to recent Google Trends data, people from the Asia-Pacific APAC region of the world were the most interested in the word “NFT”, over the past year. Possibly as a result of the ongoing nonfungible token (NFT) boom, people from China, Hong Kong, and Singapore had the highest number of Google searches for the keyword

Korean Bitcoin
Bitcoin News
Korean Bitcoin
Bitcoin News

South Korea Crypto: The Largest Mutual Aid Association Refutes Bitcoin ETF investment rumours

The Korea Teacher’s Credit Union, which is the largest mutual aid association in South Korea, responsible for approximately 40 trillion won ($34.3 billion) of assets as of June, has denied the market rumors about its investment in Bitcoin ETF. While Bitcoin ETF news came as a pleasant surprise to the crypto community in the nation,

The Korea Teacher’s Credit Union, which is the largest mutual aid association in South Korea, responsible for approximately 40 trillion won ($34.3 billion) of assets as of June, has denied the market rumors about its investment in Bitcoin ETF. While Bitcoin ETF news came as a pleasant surprise to the crypto community in the nation,

S.Korea
Altcoin News
S.Korea
Altcoin News

S.Korea Regulations: Here’s the List of Crypto Exchanges that Made the Final Cut

The final deadline for registration for crypto exchanges in South Korea came to an end on September 24. And out of 40 odds crypto exchanges left in the country, only four made the final cut. South Korea’s latest AML guidelines which came into effect in January require crypto exchanges to do away with shadow banking

The final deadline for registration for crypto exchanges in South Korea came to an end on September 24. And out of 40 odds crypto exchanges left in the country, only four made the final cut. South Korea’s latest AML guidelines which came into effect in January require crypto exchanges to do away with shadow banking

S.Korea
Blockchain News
S.Korea
Blockchain News

S.Korea Crypto Crackdown: 60 Crypto Exchanges to Shut Down Due to This Reason

60 crypto exchanges in South Korea have been asked by the regulatory body to either partially or completely halt their services and inform the customers about it by Friday. The shut down of these exchanges comes as they failed to comply with the latest set of regulations that come into effect from next week. In

60 crypto exchanges in South Korea have been asked by the regulatory body to either partially or completely halt their services and inform the customers about it by Friday. The shut down of these exchanges comes as they failed to comply with the latest set of regulations that come into effect from next week. In

News
News

South Korean Lawmaker Says Deferring Crypto Taxation is Inevitable, Here is Why

The moves by the South Korea Ministry of Strategy and Finance to tax incomes bordering on digital currencies as planned by January 1 may be an exercise in futility. Faulting the plans, one of the country’s lawmakers, Rep. Noh Woong-rae of the Democratic Party of Korea said the relevant authorities or stakeholders lack the right

The moves by the South Korea Ministry of Strategy and Finance to tax incomes bordering on digital currencies as planned by January 1 may be an exercise in futility. Faulting the plans, one of the country’s lawmakers, Rep. Noh Woong-rae of the Democratic Party of Korea said the relevant authorities or stakeholders lack the right

S.Korea
News
S.Korea
News

11 Mid-Size South Korean Crypto Exchanges Face Closure Amid Fear of Legal Action

The implementation of new regulatory policies for crypto exchanges in South Korea continues to haunt small and medium-sized crypto exchanges. As per a recent report from Korea Herald, a total of eleven mid-sized crypto exchanges may shut their operations amid growing regulatory scrutiny. The local report indicated that the country’s top regulatory watchdog Financial Services

The implementation of new regulatory policies for crypto exchanges in South Korea continues to haunt small and medium-sized crypto exchanges. As per a recent report from Korea Herald, a total of eleven mid-sized crypto exchanges may shut their operations amid growing regulatory scrutiny. The local report indicated that the country’s top regulatory watchdog Financial Services

S.Korea
News
S.Korea
News

Just-In: Korean Regulators Extend AML Guidelines for Foreign Crypto Exchanges

South Korean regulators continue to impose strict regulatory policies around the crypto space. Financial Services Commission (FSC), the top regulatory body in the country is now targeting foreign crypto exchanges using the national Korean Fiat. The chief regulator said any foreign exchange serving Korean customers must register with the country’s anti-money laundering body. The comments

South Korean regulators continue to impose strict regulatory policies around the crypto space. Financial Services Commission (FSC), the top regulatory body in the country is now targeting foreign crypto exchanges using the national Korean Fiat. The chief regulator said any foreign exchange serving Korean customers must register with the country’s anti-money laundering body. The comments

Uncategorized
Uncategorized

South Korea’s Fourth-Largest Bank to Offer Crypto Custody

Woori Bank of Woori Financial Group is now providing digital asset custody services (DACS) in a joint venture (JV) with a bitcoin-based fintech solutions provider Coinplug Inc. With a hike in popularity, Digital asset custody services are spreading across institutions in South Korea. South Korea’s KB Kookmin Bank, largest among the top four banks in

Woori Bank of Woori Financial Group is now providing digital asset custody services (DACS) in a joint venture (JV) with a bitcoin-based fintech solutions provider Coinplug Inc. With a hike in popularity, Digital asset custody services are spreading across institutions in South Korea. South Korea’s KB Kookmin Bank, largest among the top four banks in

Blockchain News
Blockchain News

Breaking: Top Executives of Bithumb Indicted in Hong Kong

The Hong Kong subsidiaries of South Korea’s largest exchange Bithumb are facing a lawsuit for breach of contract and top executives including the owner of the exchange have been indicted for committing fraud. The top executives face criminal charges for fraud worth 100 billion won. The lawsuit will be filed by the exchange’s former Thai

The Hong Kong subsidiaries of South Korea’s largest exchange Bithumb are facing a lawsuit for breach of contract and top executives including the owner of the exchange have been indicted for committing fraud. The top executives face criminal charges for fraud worth 100 billion won. The lawsuit will be filed by the exchange’s former Thai

south korea crypto regulation
News
south korea crypto regulation
News

Amid Strong Regulatory Action, South Korean Exchanges Warn About ‘Kimchi Coins’

Crypto exchanges in South Korea are having a tough time navigating through strong regulatory action initiated by authorities. As a resulted local crypto exchanges have started limiting services to some altcoins while classifying some as ‘kimchi coins’. Kimchi Premium is one of the most popular terms used in the South Korean crypto market. Being one

Crypto exchanges in South Korea are having a tough time navigating through strong regulatory action initiated by authorities. As a resulted local crypto exchanges have started limiting services to some altcoins while classifying some as ‘kimchi coins’. Kimchi Premium is one of the most popular terms used in the South Korean crypto market. Being one

News
News

Crypto Exchanges in South Korea Planning to Lodge a Constitutional Appeal Against the Gov

South Korean crypto exchanges may sue the government for passing the regulatory buck upon banks. Most of the crypto exchanges in South Korea fear closure owing to the new anti-money laundering regulations that require them to submit a document to prove they have a real banking account with the native banks by September 24. However,

South Korean crypto exchanges may sue the government for passing the regulatory buck upon banks. Most of the crypto exchanges in South Korea fear closure owing to the new anti-money laundering regulations that require them to submit a document to prove they have a real banking account with the native banks by September 24. However,

Korean Bitcoin
Altcoin News
Korean Bitcoin
Altcoin News

South Korea Executes Largest Crypto Seizure From Wealthy Tax Evaders

South Korean authorities are targeting wealthy tax evaders for back taxes and have confiscated nearly $47 million worth of crypto assets from 12,000 tax evaders, as per a report in Financial Times. The authorities deemed the recent crypto seizure as the largest in the history of the country. The crypto seizure drive was initiated by

South Korean authorities are targeting wealthy tax evaders for back taxes and have confiscated nearly $47 million worth of crypto assets from 12,000 tax evaders, as per a report in Financial Times. The authorities deemed the recent crypto seizure as the largest in the history of the country. The crypto seizure drive was initiated by

south korea crypto regulation
Regulation News
south korea crypto regulation
Regulation News

Breaking: All 200 South Korean Exchanges May Shut Down Says Regulator

The 200 crypto exchanges in South Korea may face closure by September as per Eun Sung-soo, the chair of South Korea’s Financial Services Commission. The decision would be based on the new anti-money laundering laws(AML) that came into force last year and also included cryptocurrencies. As per new regulations, crypto exchanges operating in the country

The 200 crypto exchanges in South Korea may face closure by September as per Eun Sung-soo, the chair of South Korea’s Financial Services Commission. The decision would be based on the new anti-money laundering laws(AML) that came into force last year and also included cryptocurrencies. As per new regulations, crypto exchanges operating in the country

South Korea
Altcoin News
South Korea
Altcoin News

Just In: South Korea Releases World’s First Govt. Led DeFi Research

The South Korean Ministry of Science and NCT published a research paper on DeFi today making it the first government-led DeFi research. The local report reads: “The Ministry of Science and ICT and the Korea Internet & Security Agency published the “Blockchain-based innovative financial ecosystem research paper” on January 29. This is the world’s first

The South Korean Ministry of Science and NCT published a research paper on DeFi today making it the first government-led DeFi research. The local report reads: “The Ministry of Science and ICT and the Korea Internet & Security Agency published the “Blockchain-based innovative financial ecosystem research paper” on January 29. This is the world’s first

Bitcoin News
Bitcoin News

Breaking: Multi-Billion Dollar Gaming Conglomerate Preparing to Acquire 65% Stake in Bithumb

Bithumb, the largest South Korean crypto exchange is reportedly in talks with Nexon, a multi-billion dollar gaming conglomerate as per several local media reports. The report says Nexon plans to take 65% of Bithumb. The media reports suggest that Nexon signed a Memorandum of Understanding (MOU) at the start of the month which would allow

Bithumb, the largest South Korean crypto exchange is reportedly in talks with Nexon, a multi-billion dollar gaming conglomerate as per several local media reports. The report says Nexon plans to take 65% of Bithumb. The media reports suggest that Nexon signed a Memorandum of Understanding (MOU) at the start of the month which would allow

Bitcoin News
Bitcoin News

South Korean Whales Accumulating BTC on Exchanges, Can Coinbase Buyers Hold Bitcoin Above 30k?

Bitcoin is currently trying to solidify its position above $32,000 after experiencing high volatility over the past couple of days after the $5,000 price crash. The price volatility is primarily because of Asian whales dumping large portions of their bitcoin holdings on exchanges during the Asian market time which results in a dip in bitcoin

Bitcoin is currently trying to solidify its position above $32,000 after experiencing high volatility over the past couple of days after the $5,000 price crash. The price volatility is primarily because of Asian whales dumping large portions of their bitcoin holdings on exchanges during the Asian market time which results in a dip in bitcoin

South Korea
Regulation News
South Korea
Regulation News

South Korea’s Digital Won In Works; Bank Of Korea Sets Up A CBDC Advisory Group

South Koran central bank, Bank of Korea sets up a committee of six to probe the legalities pertaining to the launch of a potential CBDC.  South Korean CBDC In The Works? Central Bank Digital Currency popularly known as CBDC has evidently become a new field of interest for many countries. While authorities have been dissing

South Koran central bank, Bank of Korea sets up a committee of six to probe the legalities pertaining to the launch of a potential CBDC.  South Korean CBDC In The Works? Central Bank Digital Currency popularly known as CBDC has evidently become a new field of interest for many countries. While authorities have been dissing

News
News

South Korean Bank To Set Up Consortium To Fuel Development Of Crypto Exchange

South Korea’s NH Nonghyup Bank has signed a memorandum of understanding with a law firm and blockchain in the country to facilitate research as well as the development of cryptocurrency exchanges.  South Korean Bank Targets Local Crypto Industry Cryptocurrencies have taken the world by storm. From associating these digital assets with illicit activities on the dark

South Korea’s NH Nonghyup Bank has signed a memorandum of understanding with a law firm and blockchain in the country to facilitate research as well as the development of cryptocurrency exchanges.  South Korean Bank Targets Local Crypto Industry Cryptocurrencies have taken the world by storm. From associating these digital assets with illicit activities on the dark