South Korea

South korea tax on crypto gains

South Korea proposed a 20% tax on gains generated by crypto trades

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South Korea has proposed a bill to introduce a tax on profits created by crypto tradingsThe resident building gains of more than 2.5 million...
korea tax

Korean Blockchain Association Calls for Crypto Tax Plan to Delayed until 2023

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This new tax strategy is initially planned to be implemented from October 1he government's time frame for the compliance shall be increased to January...
south korea cryptocurrency

Korea to Pilot Run CBDC Development but Doesn’t Plan to Launch on Full Scale

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Bank of Korea on Wednesday announced a pilot test for the Digital CurrencyCentral bank in April has already commented that the country has launched...
south korea

Korea Appraisal Association and Kookmin Bank Announces Blockchain-Based Appraisals

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MOLIT Korea will start legal process to adopt digital appraisalsKB Kookmin Bank and Korea Appraisal Associatio starts promotion of blockchain based real estate appraisalsAfter...

Korea’s leading cryptocurrency exchange Bithumb under police scanner

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Seoul police is purportedly investigating South Korea's largest crypto exchange Bithumb.The investigation is related to suspicion of investment fraud related to the issuance of...

Crypto Assets Subject to Taxation for the First Time in South Korea

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The State Council of South Korea has passed the 2020 Tax Law Amendment.Cryptos like BTC and ETH will also be taxed following the law.crypto...
south korea digital pass

South Korea Launches Blockchain-based Driver’s License

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South Korean Government planned to provide blockchain-powered digital alternatives in transition for the traditional card, which can be accessed through the smartphone app “PASS”People...

Kookmin Bank Unveils Cryptocurrency Custody Services for its clients

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KB Kookmin Bank’s move is in regard to the approval of a revision to Act on Reporting and Using Specified Financial Transaction Information...
usan Fortified Their Blockchain Industry By Crafting Free Regulatory Zones

Busan Cryptocurrency Development Leaves Several Red Faced

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In August 2019, Busan - the second largest city of South Korea, had expressed its desire to boost its economy with its own...
Fraud Alert

South Korea Witnesses Surge in Number Of Companies Involved in Crypto Fraud

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South Korean Financial Supervisory Service (FSS), on August 3, 2020, cautioned that the number of fraud companies that claimed to invest in virtual currency...
south korea cryptocurrency

Employee Imprisoned In A Recent South Korean Cryptocurrency Mining Fraud

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The number of new Ponzi schemes has arisen and attackers are hacking into and stealing cryptocurrencies from wallets and addresses. Per CipherTrace, around...
south korea cryptocurrency

South Korea to Introduce Stricter Tax Reforms for Investment in Digital Assets

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Stricter Tax Reforms for Investment in Digital Assets in South Korea to Outweigh Pandemic Loss. They plan to include such investments under the 20% tax...
south korea cryptocurrency

South Korea Launches Digital Driver License System Backed By Blockchain Technology

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A few weeks ago, South Korean had launched a digital driver's license service on PASS. Service built by Korean National Police Agency And...
south korea cryptocurrency

South Korea’s New Blockchain Deal Will Create 330,000 Jobs By 2022

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South Korea to invest a staggering 160 trillion won ($133 billion) invested for an efficient blockchain system. The digital platform centers in the...

Bank Of Korea Introduces A New Legal Advisory Council For Its CBDC

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Recently on Monday, June 15th, 2020, Bank of Korea (BOK) released a group that aims at giving legal advice to the central bank-issued...

Bank Of Korea’s Mid-Long Term Development Strategy Highlighted Digital Currency

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Bank of Korea has decided to strengthen its research and development capabilities and is aiming to prepare digital currencies. ‘BOK2030’ is the new...
south korea cryptocurrency

AI Conference To Promote Blockchain Industry in Busan, South Korea

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Smart city Busan will hold the AI ​​exhibition and conference. It will be for the first time this year that Busan will broadcast...
south korea cryptocurrency

South Korea To Spend 258.6 Billion Won for International Blockchain standardization

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A “2020 National Standard Implementation plan” resolved mutually by the 16 departments, ministries, and agencies. The Ministry of Agriculture, Food and Rural affair...
korea tax

South Korean Ministry Likely To Impose Crypto Tax By Next Year

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The Ministry of Economy and Finance of South Korea are preparing to impose income tax on crypto trading and mining from next year. ...
south korea cryptocurrency

To Track Child Pornography, South Korea Police Tracks Criminals By Cryptocurrency

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South Korean police have availed themselves of cryptocurrency in tracking down sellers and buyers involved in the child pornography crime.   This case with...
upbit

Upbit Continues To Freeze Foreign Crypto Withdrawals Amid Regulatory Uncertanities

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Upbit is a South Korea based cryptocurrency company launched on October 24, 2017. South Korean exchange Bithumb’s 70$ million dollar tax fine from...
korea tax

Korean government to impose taxes on digital currency transactions?

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South Korea is taking its steps to impose taxes on digital currency transactions. As Per the Report, traders will pay premiums of more than 20%...

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