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South Korean Ministries ‘Do Not Want’ to Take Charge of Crypto-Related Regulation, Claims Official
18.5.2021
The crypto regulation crisis is on fire in South Korea, as politicians have struggled to reach agreements with top government officials to ease rulings. A local media outlet reveals that South Korean ministries “do not want” to take charge of the country’s digital assets’...
South Korea to Impose a 20% Tax on Crypto Mining Activities
8.5.2021
The cryptocurrency industry in South Korea keeps facing regulatory challenges, and it seems that dust is far from settling. Now, crypto miners will be required to pay taxes, following the same path as digital assets traders. Ruling to Take Place Starting 2022 According to a report published...
South Korean Ruling Party Contemplates Postponing Crypto Tax in a Bid to Regain Younger Votes
4.5.2021
South Korean political parties are now battling to catch younger votes amid the tough stance among higher government spheres toward digital currencies. As voters are disappointed by how parties are handling the issue, one of them has taken a step forward by talking about the forthcoming crypto tax....
South Koreans File Online Petitions Seeking to Remove a Chief Regulator After Harsh Crypto Comments
28.4.2021
As the South Korean government keeps strengthening the harsh rhetoric against cryptocurrencies, citizens have become increasingly angry due to the recent words from regulatory authorities. Over the weekend, petitions started to appear on the web, seeking the removal of the head of...
South Korean Government Seeks to Regulate International Remittances Related to Crypto ‘Kimchi Premium’
22.4.2021
The famous gap in cryptocurrency prices in South Korean crypto exchanges and overseas ones known as “kimchi premium” raises some concerns among the nation’s government. The latest reports suggest that the country is planning to regulate international remittances tied to kimchi...
South Korean Government Announces Crackdown on Illicit Crypto-Related Transactions in an ‘Overheated Market’
10.4.2021
Adding to the South Korean cryptocurrency industry’s stricter regulations, the central government is focusing on the “crackdown” of illegal crypto transactions. A meeting over the week held with high-ranked politicians resulted in a campaign that will soon be deployed. Government...
South Korean Government to Start Taxing Crypto Trading Profits in 2022
8.1.2021
The South Korean government has issued an amendment to introduce tax on cryptocurrency trading profits. The plan is now a reality after several attempts to delay it by lawmakers. New Rules Impose 20% Tax on Crypto Profits Per Asia Today, the legislative notice details that the amendment will...
South Korean government to delay crypto-tax rules by three months
25.11.2020
Following lobbying by the Korean Blockchain Association, crypto exchanges are given extra time to implement a new tax infrastructure
South Korean Government Has Plans to Nurture Blockchain Unicorns
19.11.2020
Source: Adobe/s_lena
A South Korean minister has talked about the government’s intention of fostering “blockchain unicorns” as part of its medium-term strategy to boost growth and mitigate the devastating effects the coronavirus pandemic is set to take on the nation’s small and medium-sized...
South Korean government agency to use blockchain-based employee ID system
6.9.2020
South Korean public entities are becoming blockchain-friendly
South Korean Government Turns to Blockchain Tech to More Reliably Store Clinical Diabetes Data
29.6.2020
The government has asked startup Sendsquare to develop a proof-of-concept blockchain registry to help analyze, anonymize and store clinical diabetes data
South Korean Government Labels Blockchain a Golden Opportunity
17.4.2020
A South Korean minister is calling to local firms to seize “golden” opportunities in the global blockchain market
Major South Korean Bank Prepares to Launch Crypto Services as Government Green-Lights Regulation
28.3.2020
Following the approval of a regulatory framework for cryptocurrencies by the South Korean government, one of the largest banks in the country is preparing to launch a range of crypto services. KB Kookmin Bank has applied for trademark registration, reportedly listing over 20 crypto services on...
South Korean Government to Grant $3.2 Million to Blockchain Companies
17.3.2020
A state-based pilot program aims to provide funding to nine blockchain startups in South Korea
Is the South Korean Government Teaching Children How to Use Crypto?
16.3.2020
Source: iStock/recep-bg
A revamped learning resource platform aimed at boosting entrepreneurship in elementary and middle school pupils teaches children how to raise digital tokens in online crowdfunding incentives.
Per Yonhap, the platform, which went live on March 16, aims to nurture “young...
South Korean Government Falsified Report Claiming 10% Tax on Crypto Transactions
9.12.2019
The Ministry of Finance of South Korea has put an end to the speculations and claims that were hovering over the Korean crypto industry in the past few weeks by refuting the report that stated that the regulatory authority had imposed 10% income tax on cryptocurrency investments. Cryptocurrencies...
South Korean Government Talks of ‘Overheated’ Market as Cryptos Soar
28.5.2019
Souce: iStock/SeanPavonePhoto
The South Korean government has held meetings with ministries to address skyrocketing cryptocurrency prices, while trading volumes rise quickly at domestic exchanges.
Per media outlets Kyunghyang Shinmun and SBS CNBC, the meetings have involved the finance ministry...