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Tax Agency Vows to Go Hard After Koreans Using Crypto to Evade Levies
3.8.2022
South Korea’s tax administration has pledged to take strict measures against tax evasion through virtual assets and platforms. While the Korean government is yet to start taxing capital gains resulting from crypto investment and trading, authorities in Seoul claim cryptocurrencies have been...
South African Professor Accuses Central Bank Official of Spreading Misinformation That Damages Crypto Industry
3.8.2022
A South African professor, Steven Boykey Sidley, has branded as “balderdash” claims by the South African central bank deputy governor that “90% of cryptocurrency transactions” are illicit. The professor also accused the senior central bank official of spreading...
South Korean Prosecutors Wrap up Terra Raids on Exchanges, Tech & VC Firms
2.8.2022
A more than week-long prosecution raid of South Korean crypto exchanges and companies linked to Terraform Labs has finally come to an end, with officers admitting that finding the information they were after was challenging.
As reported, the Seoul Southern District Prosecutors’ Office-run Joint...
Regulation of Cryptocurrency in South Africa Should Not Scare Away Investors Experts Say
30.7.2022
Two experts have said they welcome South Africa’s planned regulation of cryptocurrency but warned this should not scare away investors. If the regulation is balanced between the need to protect investors and stimulating interest in crypto investment, this “could see funds stream into...
Two Soccer Teams Transfer a South American Player Using USDC, But There’s Collateral Damage
29.7.2022
The news was hailed as a historic event for South American football, but it could bring unexpected consequences for Argentinian club Banfield, amid local FX restrictions
Report: Terror Groups Using South African Financial System to Move Funds
28.7.2022
Sympathizers of the terror group, the Islamic State (IS) are allegedly using South Africa’s financial system to channel funds to the group’s affiliates and networks in Africa. The United States government has so far sanctioned four South Africa-based individuals it accused...
Report: Just Over Half of South Africans Have Little to Zero Knowledge About Cryptocurrencies
27.7.2022
About 53% of South Africans have little to no knowledge about cryptocurrency, while only 14% thought or felt they had a better understanding of the subject, a report has said. Nearly half of the respondents said they would only invest in cryptocurrency if or when their respective banks...
FTX in Talks to Buy South Korean Crypto Exchange Bithumb: Report
26.7.2022
Bithumb’s parent company is considering both an outright sale or entering into joint ownership
The lasting agony of 3AC: Law Decoded, July 18-25
25.7.2022
A crypto hedge fund co-founders acknowledge their mistakes, driven by bull market overconfidence
Report: South Korean Prosecutors Raid Home of Terraform Labs Co-Founder
25.7.2022
A team of South Korean prosecutors recently raided the home of Terraform Labs co-founder Shin Hyun-seong. During an earlier raid that targeted 15 places, including seven cryptocurrency exchanges, the prosecutors reportedly secured terra transaction data. Seven Cryptocurrency Exchanges Targeted...
Tax Collector Wants $55 Million From Collapsed Bitcoin Ponzi Scheme MTI — Liquidators Accused of Failing Their Duty
24.7.2022
In a fresh twist to the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) saga, revenue collector South African Revenue Services (SARS) has demanded $55.3 million from the scheme’s liquidators. The revenue collector added that it wants the tax bill settled before the...
Grassroots Sports Body Accountancy Chief Says She Stole Public Funds to Pay for Bitcoin
22.7.2022
A South Korean local government official in charge of managing public funds for grassroots sports has admitted to embezzling over USD 367,000 worth of tax payers’ money – which she says she and her husband spent on crypto investments and internet gambling.
KBC reported that the police are...
Taiwan vs. Crypto, Uprise Might Compensate Some LUNA Losses + More News
22.7.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
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Read More: Taiwan vs. Crypto, Uprise Might Compensate Some LUNA Losses + More News
Prosecutors Raid Home of Terra Co-Founder Daniel Shin as Do Kwon Returns to Twitter
22.7.2022
The South Korean prosecution service’s recent raid of 15 locations as part of the probe into the “Terra (LUNAC) incident” saw officers search the home of the Terraform Labs co-founder Daniel Shin.
Prosecutors are widely reported to be looking at evidence pertaining to figures at the top of...
South Korean Prosecutors Raid Terra Co-Founder Daniel Shin's Home: Report
22.7.2022
South Korean authorities are continuing their investigation into fraud allegations at the center of the Terra collapse
Korean crypto startup Uprise to compensate investors after disastrous LUNC short trade
21.7.2022
The investment startup made a short bet on LUNC in May using client funds. The trade blew up and wiped out 99% of its assets
South Korea postpones 20% tax on crypto gains to 2025
21.7.2022
The delay comes just a couple of months after newly elected president Yoon Suk-yeol promised to work on regulations first
South Korea Postpones 20% Crypto Tax to 2025
21.7.2022
The government announced its 2022 Tax Reform Bill on Thursday, which states the planned virtual asset tax, already delayed by a year, will be postponed further
New South Korean Crypto Regulator ‘Days Away from Launch’, Government Confirms
21.7.2022
The South Korean government is set to come good on a promise to launch a new regulatory agency that will govern the domestic crypto sector in the wake of what it calls the “Terra (LUNAC) incident.”
As reported in late May, the body has been tentatively named the Digital Assets Committee (literal...
South Korean authorities raid 15 entities linked to Terra collapse: Report
20.7.2022
The Seoul Southern District Prosecutors Office reportedly raided the offices of crypto exchanges Upbit, Bithumb, Coinone, Korbit and Copax, among others on Wednesday