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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 Korean Police Investigate Who Leaked the Crypto Tax Bill

24.7.2020
Sejong police are investigating who leaked details of the government’s crypto tax bill before it was formally announced

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...

Bank of Korea Launches a Department Devoted to Blockchain and AI

22.7.2020
Bank of Korea is launching a digital innovation department that will leverage blockchain and AI to improve business efficiency

South Korea Will Air a Crypto-Themed TV Series in October

22.7.2020
“Romantic Hacker” will feature a K-pop star whose story is based on the hack of a fictitious crypto exchange

South Korea Finalizes Cryptocurrency Income Tax of 20%

22.7.2020
South Korea has finalized a new 20% tax rate for income generated from crypto trading

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...

Crypto Scammer Sentenced by South Korean Authorities

21.7.2020
Man sentenced to two years and six months in prison after multi-million dollar crypto fraud

BitMEX Owner Leads $3.4M Round for South African Crypto Exchange

21.7.2020
BitMEX owner 100x said investing in VALR’s Series A would bring exposure to the fast-growing South African market

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...

Korean Exchanges Struggle With Expansion Amid Uncertain Regulations

20.7.2020
Cryptocurrency exchanges in Korea shrink within national boundaries due to lack of regulatory clarity

South Korean Giant Hanwha Invests $3M in Crypto Disclosure Startup

16.7.2020
Xangle, a crypto disclosure platform by CrossAngle, closes a $3.3 million round from South Korea’s conglomerate Hanwha Group

South African Bitcoin Investment Company Pushes Back Against Texas Scam Allegations

16.7.2020
Mirror Trading International (MTI), a South African bitcoin investment company at the center of a cease and desist order issued by the Texas State Securities Board (TSSB), is pushing back allegations that it is running a Ponzi scheme or a scam. MTI CEO Johann Steynberg issued a statement assuaging...

South Africa Proposes New Rules to Regulate Cryptocurrencies, Seeks Alignment With FATF Standards

15.7.2020
South Africa is proposing new rules around crypto-asset service providers (CASP) as it seeks to align regulations with standards of the Financial Action Task Force (FATF). The proposed rules are part of amendments to the Financial Intelligence Centre Act (FICA) that are up for public comment....

South Korean Local Stablecoin Operator Posts Record Profits

15.7.2020
Business appears to be booming for a company operating an increasingly large number of South Korean local stablecoins. Per Fn News, the Korea Minting and Security Printing Corporation (KOMSCO) – the company that has printed banknotes and minted coins for the nation’s treasury for the past 70 or...

South Korea Might Soon be Spending Billions on Blockchain Development

14.7.2020
President Moon Jae-in wants to allocate billions of dollars to strengthen industry 4.0 technology

South Korean Central Bank Launches CBDC Legal Advisory Unit

14.7.2020
The Bank of Korea in Seoul. South Korea is once again intensifying the pace of its central bank digital currency (CBDC) progress – with a central bank-run team now investigating legal obstacles that might stand in the way of digital won issuance. Bitter political and financial rival Japan last week...