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Latest South Korean Tax Evasion Busts: Crypto Worth USD 47m Seized

23.6.2021
The South Korean crackdown on high-band taxpayers who have used crypto purchases to hide the scale of their earnings from the taxman has rolled on to the affluent Gyeonggi Province, catching some big fish – with crypto confiscated from rich doctors and TV stars. Since gaining the powers they needed...

‘Confusion’ as Regulator Chimes in Amid South Korean Delisting Spree

19.6.2021
Crypto investors have been left “confused” after a spate of altcoin delistings on major South Korean exchanges has escalated to the point where the regulator has stepped in with yet more rules for under-fire trading platforms. Already reeling from racing to adopt a long list of compliance measures...

Nestree Launches a Reward-Based Digital Commerce “Nestree Mall”

18.6.2021
PRESS RELEASE. A South Korean blockchain-based community messenger “Nestree” has announced that it is launching an innovative and cutting-edge reward-based digital commerce platform called “Nestree Mall’. Nestree Mall is part of the roadmap of the blockchain platform that...

Top South Korean Crypto Exchanges Purging Altcoins in Late-night Culls

18.6.2021
Multiple South Korean crypto exchanges have gone on token purges, culling a wide range of altcoins from their platforms – and following in the wake of the market-leading exchange Upbit, which has earmarked 30 coins for the ax. As previously reported, Upbit’s unexpected move saw five coins removed...

Korean Exchanges Delist High-risk Coins as They Face Tough Regulations

17.6.2021
Crypto trading platforms in South Korea are delisting certain digital currencies as they move to comply with stricter rules for the industry. The trading of some high-risk coins has been either halted or completely suspended on several Korean exchanges this week. South Korean Exchanges Wipe Trading...

Head of South Korean Opposition Party Admits Crypto Trading Experience

17.6.2021
Lee Jun-seok. Another major political leader has come out as a crypto enthusiast – as the new leader of the biggest South Korean opposition party has admitted to trading tokens “for fun.” Lee Jun-seok, aged just 36, stunned the political world last week when he won the leadership election for...

Regulator Extends South Korean Crypto Exchanges’ AML Window by 6 Months

15.6.2021
South Korean crypto exchanges have been given a short extension in their race to get anti-money laundering (AML) protocols in place – although the nation’s top regulator has promised to place the industry under “intense scrutiny” in the months ahead. The nation’s first piece of crypto-specific...

69,000 Potentially out of Pocket in Alleged South Korean Exchange Scam

4.6.2021
Far more South Korean investors than previously thought appear to have been sucked into an alleged crypto scam revolving around the V Global crypto exchange. As reported last month, police said that “mainly pensioners and housewives” had been the victims of the suspected fraud. Officers in Seoul...

South Korean Banks See Crypto Exchange Commission Fees Grow Tenfold

3.6.2021
The group of South Korean commercial banks that recently ruled out working with domestic crypto exchanges may be forced to rue their decisions after figures for the first quarter of the financial year revealed bumper commission earnings for the banks currently working with trading platforms. Per...

South Korean Presidential Candidate: Delay Crypto Tax Until 2023

1.6.2021
Source: Adobe/Андрей Яланский As South Korea’s general elections draw ever nearer, the nation’s provincial governors appear to have grown bolder – and are looking to strengthen their political positions by taking on Seoul over its crypto policy. While last week it was the turn of the Governor...

Hope for South Korean Crypto Exchanges as Bank Keen on Contract Renewal

28.5.2021
There may be a glimmer of hope at last for the South Korean crypto exchanges fearing for their future, with the neobank K-Bank reportedly set to renew its contract with the market-leading trading platform Upbit – just days after three major commercial banks ruled out the prospect of doing...

Naver, Kakao, LG ‘Will Bid to Participate’ in South Korean CBDC Pilot

26.5.2021
The Bank of Korea (BOK), South Korea’s central bank, is set to pilot its prototype digital KRW beginning in August as the country increases the pace of its central bank digital currency (CBDC) adoption plans. And it looks as though three of the nation’s biggest tech giants are keen to take...

3 South Korean Banks Say They Won’t Deal with ‘Risky’ Crypto Exchanges

25.5.2021
Three of South Korea’s five biggest banks, Woori, Kookmin (KB), and KEB Hana, have said they do not want to work with crypto exchanges, claiming the sector is “too risky” – a decision that may well jeopardize the future of even the country’s major exchanges. Cryptonews.com approached a number...

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