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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...
Digital Currency Group backs South Korean crypto exchange operator
6.5.2021
Streami, the company behind the popular GOPAX exchange, has received direct funding from Digital Currency Group
South Korean Bitcoin miners can deduct electricity costs from crypto tax filings
6.5.2021
Crypto miners will be able to deduct electricity costs as business expenses when filing cryptocurrency taxes starting in 2022
South Korean regulators tell banks to open the books on cryptocurrency exchanges
6.5.2021
Authorities are looking to tighten their grip on the cryptocurrency industry
South Korean Police Raid Crypto Exchange Allegedly Involved in a $214M Multi-Level Marketing Fraud
6.5.2021
Authorities in South Korea have launched a major raid against a domestic crypto exchange allegedly involved in a millionaire multi-level marketing (MLM) fraud. The police accuse V Global platform of running an illicit operation that reportedly stole hundreds of millions of dollars from investors....
Young Koreans Less Keen on Crypto Taxation Than Older Generations, Poll Finds
4.5.2021
Opponents of the government’s plan to tax gains from cryptocurrency trading outnumber supporters among South Koreans in their 20s, a new survey shows. Representatives of other age groups are more open to the proposed taxation of investments in virtual assets. Nearly Half of Young Koreans...
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....
Survey shows South Koreans support crypto tax law
3.5.2021
More than half of the survey respondents favored the controversial crypto tax law in South Korea
South Korea reportedly set to approve cryptocurrency-focused fund
29.4.2021
Regulators in South Korea are reportedly set to give the green light for the country’s first crypto-related investment fund
Top Korean crypto exchanges reopen brick-and-mortar customer centers
29.4.2021
Both Coinone and Bithumb have reopened their customer centers in the capital city in response to a surge in domestic interest in cryptocurrencies
South Korea’s Ruling Party, Regulators at Odds over Crypto Policy
29.4.2021
Source: Adobe/david_franklin
South Korea’s finance minister and Deputy Prime Minister has risked invoking young voters’ further ire with a crypto-related tirade – although it appears not everyone pulling the strings in the government is ready to sing from the same hymn sheet on this increasingly...
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...
Crypto tax in South Korea is ‘inevitable’ in 2022, says minister
27.4.2021
South Korea’s finance minister said that cryptocurrencies like Bitcoin will be taxed as “intangible assets.”
Employees of Korea’s financial regulator ordered to report crypto holdings
27.4.2021
Korea is strengthening its crypto regulations, imposing reporting requirements on all employees of its Financial Services Commission
All 200 Cryptocurrency Exchanges Could Be Shut Down Under New Regulation in South Korea, Regulator Warns
27.4.2021
The chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), Eun Sung-soo, has warned that all of the cryptocurrency exchanges in the country could be shut down. South Korea currently has about 200 cryptocurrency exchanges, he said. All Crypto Exchanges...
South Korea’s Bitcoin ‘Kimchi Premium’ Reappears, Korbit and Bithumb Exchange Volumes Spike
26.4.2021
During the first week of April, South Korea’s ‘kimchi premium’ on domestic cryptocurrency exchanges had jumped over 18%, but then leveled off, equalizing with global exchange rates over the last two weeks. On Monday, as bitcoin prices spiked 8% higher surpassing the $54k zone,...
South Korean Prime Minister nominee to look into controversial crypto tax law
26.4.2021
South Korea’s crypto tax law continues to face significant opposition from cryptocurrency proponents in the county
ConsenSys to develop private version of Kakao’s Klaytn blockchain
26.4.2021
A private version of Klaytn is in being developed in order to take part in South Korea's CBDC pilot, to be launched later this year
Tax Authority Seizes Cryptocurrencies Worth $25 Million From Hundreds of Crypto Investors in South Korea
24.4.2021
The tax department of the Seoul metropolitan government in South Korea has reportedly seized cryptocurrencies worth about $25 million from hundreds of crypto investors with delinquent taxes. The cryptocurrencies, including bitcoin, were seized from three exchanges. The tax authority is now going...
Asia-Pacific’s solarized digitalization agenda in pandemic times
24.4.2021
Amid the COVID-19 pandemic, the role of digitalization has become central to achieving sustainability and lessening climate change