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‘Crypto Crisis Summit’ in South Korea – as No Ministry Wants to Take Charge
17.5.2021
Crypto policy has been placed at the top of the government’s agenda in South Korea – where ministries are eager to pass the buck on crypto-related matters, a "crisis" meeting involving the nation’s most powerful lawmakers has been held and new legislation is set to be put before...
Bank of Korea to Monitor Crypto Transactions Using Financial Records
15.5.2021
South Korea’s monetary policy regulator, Bank of Korea, plans to obtain documents from financial institutions to track crypto transactions involving bank accounts. Cryptocurrency prices fluctuate independently from the real economy, the bank says, adding that market growth could pose a risk...
South Korea: Interest in Crypto Equal Between Younger and Older Age Groups
14.5.2021
The authors of a detailed report on the profile of crypto investors in South Korea have concluded that Crypto Fever 2.0 has been marked by a spike in interest among older age groups – with those in their 40s and 50s expressing a similar amount of interest in tokens as the ever-crypto-keen 20-39...
Bank of Korea wants to monitor crypto trading activity, cites monetary risks
13.5.2021
South Korea’s central bank is the latest entity seeking powers to monitor crypto trading activity in the country
South Korean Banking Association Concerned Over Surge of the Altcoin Trading Frenzy
12.5.2021
A banking association in South Korea recently added weight to regulatory discussions across the country, raising concerns about the high altcoin trading volume. The Korea Federation of Banks (KFB) requested its members to audit trading volumes through their crypto exchanges’ customers’...
South Koreans flock to crypto amid a heavy-handed regulation approach
11.5.2021
With crypto demand skyrocketing in South Korea, the government is looking to regulate digital assets and the local market is feeling the pressure
South Korea's banking association alarmed by altcoin trading mania
10.5.2021
South Korea’s banking body wants crypto exchanges to be wary of the risks of being overexposed to altcoins
South Korea to Crack Down on Phishing Websites Attacking Crypto Users
10.5.2021
South Korean authorities are intensifying their monitoring of phishing activity related to cryptocurrencies. The government has identified a record number of websites trying to obtain login details from crypto exchange users. Over 30 sites have been taken down in just three months this year. Seoul...
South Korean Police Officers Banned From Buying Cryptocurrency
8.5.2021
A recent ban imposed by the South Korean National Police Agency will bar particular officers from purchasing additional cryptocurrencies. The announcement coincides with a report revealing a heightened domestic availability of digital coins, in comparison to the global marketplace. South Korea...
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...