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Crypto Exchange Bithumb Takes Korean Tax Authority to Court Over $69 Million ‘Groundless’ Tax
17.1.2020
Bithumb, a major crypto exchange in South Korea, has taken the country’s tax authority to court over a “groundless” tax imposed on the exchange. Experts explain that currently there are no grounds to tax crypto transactions in South Korea and existing tax laws do not apply...
Bithumb Exchange Fighting Back Against ‘Groundless’ $69M Tax Bill
16.1.2020
The South Korea-based exchange is fighting a move by the country's tax authority to withhold over $69 million in tax on foreign cryptocurrency transactions
Crypto Exchange Upbit Finishes Security Update in Response to 2019 Hack
15.1.2020
Upbit has completed a security overhaul in response to a hack the platform suffered in late 2019
Prepare for Liftoff — South Korea’s Crypto Regulation Ignites in 2019
15.1.2020
Complete timeline of South Korea’s crypto regulation and controversy
Binance to Launch Korean Support Center Following Investment in Local Startup
14.1.2020
Binance has made its first direct investment in a South Korean startup as part of a deal to launch a support center in the country
Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, US, Asia
14.1.2020
In this roundup, we cover EU-wide crypto regulations and individual countries’ new digital asset rules including Austria and the U.K. We also cover numerous crypto regulatory developments in the U.S., China, Japan, South Korea, India, and the Philippines. Also read: Regs Roundup: SEC Actions...
Bithumb Pledges $8M to South Korea’s ‘Regulation-Free’ Blockchain Zone
10.1.2020
South Korean cryptocurrency exchange Bithumb has pledged to invest roughly $8 million into the Busan blockchain zone. The region was recently declared “regulation-free” by the national government and modeled after the Switzerland town of Zug. Bithumb’s subsidiary GCX Alliance will...
Popular Korean Crypto YouTuber Badly Beaten After Threats From Angry Investors
10.1.2020
A South Korean crypto YouTuber has been assaulted at his home, with some suggesting the attackers may have been upset investors
Bithumb May Pour Over $8M Into South Korea’s Regulation-Free Zone
9.1.2020
Bithumb could invest over $8 million into South Korea’s regulatory free zone in Busan
Korean Presidential Committee Pushes to Make Cryptocurrency Mainstream
8.1.2020
A South Korean committee directly under the president has recommended several measures to the government that will make cryptocurrency mainstream. Emphasizing that “it is no longer possible to stop crypto asset trade,” the committee recommends integrating crypto into the country’s...
Regs Roundup: SEC Actions, Crypto Tax-Free in Korea, India’s National Blockchain Seminar
7.1.2020
In this roundup, we cover several crypto-related actions by the U.S. Securities and Exchange Commission (SEC) and the New York regulator’s crypto job posting. We also cover new Chinese laws, South Korea’s tax clarification, India’s blockchain education, the IMF working with...
Major South Korean Crypto Exchange Bithumb Launches R&D Center
7.1.2020
Bithumb, a major South Korean crypto exchange, is launching its own R&D center for cryptocurrencies and blockchain technology
South Korean Presidential Commission Wants to Bring Crypto Into Mainstream Finance
6.1.2020
Financial institutions should be allowed to launch cryptocurrency products, such as derivatives, according to a government advisory body
South Korean Presidential Committee Recommends Allowing Bitcoin Derivatives
6.1.2020
The South Korean Presidential Committee on the Fourth Industrial Revolution has reportedly recommended the government to allow the development of crypto derivatives
South Korea Drafting Legislation To Tax Individual Crypto Profits
2.1.2020
South Korea is working on legislation to tax crypto profits
Is South Korea’s Central Bank Set to Make a Digital Fiat U-turn?
2.1.2020
South Korean media commentators are asking if the central Bank of Korea (BOK) has made a policy reverse on its stance towards central bank digital currency (CBDC) issuance.
Sisa Journal reports that the BOK appears to have changed its tune on CBDCs of late.
Last month, the BOK stated that it...
Government Confirms Crypto Profits Not Taxable in South Korea
2.1.2020
South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend...
South Korea Imposes $69M Tax Obligation on Crypto Exchange Bithumb
30.12.2019
The National Tax Service of South Korea (NTS) has decided to withhold income tax from Bithumb’s foreign customers. The total tax to be imposed on their transactions amounts to more than 80 billion won (over $69 million), the leading Korean cryptocurrency exchange announced. Also read: Poles...
Korea’s Tax Agency to Withhold $70M From Crypto Exchange Bithumb
30.12.2019
South Korea's National Tax Service will withhold tax worth $70 million from the country's largest crypto exchange Bithumb
Bithumb Crypto Exchange Reportedly Considers Litigating $68.9M Tax Bill
29.12.2019
South Korean cryptocurrency exchange considers litigation after the local tax authority imposed a $68.9 million tax bill on it