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How a South Korean Crypto Firm Became a Global Face Mask Exporter

4.8.2020
A “medium-sized” South Korean crypto firm that built a facial mask factory as a response to the coronavirus pandemic has doubled down on its new line of business – and has won Amazon approval to start exporting its personal protective equipment to “Europe and the United States,” as well as approval...

South Korean Politician Pushes for Tougher Crypto Exchange AML Rules

4.8.2020
Source: Adobe/david_franklin More restrictive anti-money laundering (AML) compliance measures could be incoming for South Korean crypto exchanges after a lawmaker lodged a private member’s bill in the National Assembly. The National Assembly, South Korea’s parliament, will likely debate and vote...

Pack Your Bitcoin: Busy South Korean Beach Says ‘Yes’ to Crypto

29.7.2020
Haeundae Beach. Holidaymakers at Haeundae, South Korea’s busiest and most popular beach, will be able to pay for services such as sun umbrella and inflatable tube rentals in bitcoin (BTC), ethereum (ETH) and other tokens next month. Haeundae Beach, in South Korea’s second city Busan, is a...

Local Stabelcoin in Sleepy South Korean County Is a Runaway Success

27.7.2020
Statue of the Lying Buddha of Miamsa Temple in Naesan-myeon, Buyeo-gun, South Korea. A quiet South Korean county with a high proportion of elderly residents said its blockchain-powered local stablecoin is booming, with USD 48.5 million worth of tokens used since the coin was issued last year. Buyeo...

Angry South Korean Crypto Traders Threaten to Quit over New 20% Tax

25.7.2020
Active crypto traders in South Korea said they are prepared to walk away from the scene forever – slamming “unfair” 20% crypto trading tax law proposals unveiled by the government earlier this week. It is a sign, perhaps, of what traders in other nations will have to deal with in the near future...

Four of South Korea’s Biggest Banks to Provide Data for DeFi Platform

24.7.2020
Four major South Korean banks said they will contribute to a blockchain-powered decentralized finance (DeFi) solution for foreign currency exchange rates. Per D Daily, Shinhan Bank, IBK Bank, KEB Hana Bank and Nonghyup (NH Bank) will take part in a joint project involving Oracle’s Chainlink (LINK)...

South Korea to Charge 20% Tax on Bitcoin Profits Under New Law

23.7.2020
South Korea will now tax profits made from buying and selling of cryptocurrency at 20% after the government agreed to the decision on Wednesday. The decision was reached after months of debate. According to a taxation policy amendment notice released July 22, the Ministry of Economy and Finance...

South African Exchange Valr Raises $3.4 Million in a Series A Funding Round

22.7.2020
A South Africa based cryptocurrency exchange, Valr has just raised $3.4 million in a Series A funding round led by 100x Group, the parent company to Bitmex. The funding round, in which 4Di Capital also participated, however, does not change Valr’s controlling shareholder structure. In...

South Korean Crypto Tax Plans to Be Unveiled this Wednesday

21.7.2020
The South Korean government is reportedly set to unveil further details about its plans to introduce tax for cryptoasset holders. Per an unsourced report by SBS CNBC, Seoul will unveil a document outlining its proposals in a Tax Law Amendment bill – to be unveiled on July 22. The bill will seek...

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