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Major South Korean Bank Joins the Crypto Custody Business
8.8.2020
We’re suddenly seeing banks lining up to support crypto custody, and KB Kookmin Bank is looking to get in on the action
Blockchain-based Pay’s the Way for South Korean Highways
7.8.2020
Blockchain-powered payments are coming to South Korea’s highways – with the nation’s motorway operator sealing a deal that will see it use blockchain technology to power toll payments across the country before the end of the year.
Per D Daily, KEB Hana Bank, one of the nation’s biggest commercial...
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...
Stablecoin Adoption Skyrockets in Rural South Korean Province
28.7.2020
A South Korean county with a population of mostly elderly residents has seen a strong rise in stablecoin adoption
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...
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
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
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...
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 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 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...
South Korean MP Makes Bid to Impose Capital Gains Tax on Crypto
10.7.2020
Yang Kyung-sook. Source: Twitter, @yangkyungsook
An influential South Korean MP has put forward a private members’ bill that would see crypto taxed under the nation’s capital gains tax laws.
Per Jose Ilbo, Yang Kyung-sook, an MP for the ruling Democratic Party and a member of the National...
South Korean National Assembly to Discuss Crypto Transaction Transparency
9.7.2020
South Korean legislature will host a seminar to address crypto laundering and other related topics
South Korean Blockchain Patents Applications ‘Surging’
8.7.2020
Blockchain technology-related patent applications surged in South Korea last year, and appear to be rising further this year in wake of the coronavirus pandemic.
Per the Korean Intellectual Property Office (KIPO), a total of 1,301 blockchain patents were registered in the country last year, a rise...
More South Korean Banks May Look to Start Crypto Operations
4.7.2020
More South Korean conventional finance firms are set to follow Nonghyup (NH Bank) into the cryptoasset industry, say experts, academics, and industry insiders – who think regulators may offer banks safe passage into the crypto sector.
As reported earlier this week, NH has announced it will begin...
South Korean NGO Announces Blockchain-Based Healthcare Platform
2.7.2020
The Commons Foundation unveiled plans to build a blockchain platform to track COVID-19 cases in South Korea
South Korean Giant to Begin Crypto Custody for Institutional Investors
2.7.2020
One of South Korea’s biggest commercial banks, NongHyup (NH Bank) said it is working on a cryptoasset custodial services platform for institutional investors.
Per ET News, the bank said that it wants to launch crypto “ecosystem” operations, and also spoke of its long-term plans which include...