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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...
South Korean Central Bank to Organize a CDBC Task Force
27.12.2019
South Korea's central bank plans to hire additional experts as it studies digital currencies and blockchain technology
France approves its first ICO
23.12.2019
CoinMarketCap Daily Newsletter Your daily newsletter for 20 December, 2019 “Knowledge is power.” - Francis Bacon In today's newsletter, we will be covering: Largest South Korean telecom company issuing a blockchain-based local currency in Busan France's financial regulator granting...
France approves its first ICO
20.12.2019
CoinMarketCap Daily Newsletter Your daily newsletter for 20 December, 2019 “Knowledge is power.” - Francis Bacon In today's newsletter, we will be covering: Largest South Korean telecom company issuing a blockchain-based local currency in Busan France's financial regulator granting...
Largest South Korean Telecom Company Issues Blockchain-Based Local Currency in Busan
19.12.2019
Busan, South Korea’s second-largest city in cooperation with telecom giant KT plans to release a blockchain-based local currency by Dec. 30
South Korean Co-Working Space Operator SparkPlus Turns to Blockchain
17.12.2019
Seoul-based SparkPlus plans to open co-working centers in properties listed on the blockchain funding platform Kasa Korea
South Korean Police Charge Operators of USD 18m Bogus ‘Thai Crypto’
16.12.2019
South Korean prosecutors in the city of Daejeon have busted what appears to be a USD 18.4 million multi-level pyramid scheme centering around a fake token.
Per news agency Yonhap, police say that executives from at least one unnamed company convinced “a large number of investors” to invest in...
Accusations Pile Up Against ‘Big’ South Korean Exchange
12.12.2019
The storm around an unnamed major South Korean cryptocurrency exchange is continuing to rage – with a senior politician allegedly involved, an ongoing assault/kidnapping case ongoing and now claims of artificially inflated trading volume figures.
As previously reported, the head of a major...
South Korean Government Falsified Report Claiming 10% Tax on Crypto Transactions
9.12.2019
The Ministry of Finance of South Korea has put an end to the speculations and claims that were hovering over the Korean crypto industry in the past few weeks by refuting the report that stated that the regulatory authority had imposed 10% income tax on cryptocurrency investments. Cryptocurrencies...
S Korean Crypto Exchanges Will Struggle to Survive in 2020 – Report
5.12.2019
A number of South Korean cryptocurrency exchanges are set to post “huge” losses this year, per a new report.
According to media outlet Newsway, industry insiders believe that most exchanges are “expected to suffer massive losses in FY2019.” The industry fears that nobody is safe, with trading...
North Korean Hacking Group May Be Behind Malware-Laden Fake Crypto Site
4.12.2019
A new and hard-to-detect macOS malware variant has been discovered lurking on a fake cryptocurrency trading site
South Korean Startup Claims to Have Solved Blockchain’s Speed Problem
4.12.2019
South Korean startup reportedly develops a new technology that reduces blockchain transaction times to fractions of a second
MARKETS DAILY: A North Korean Conspiracy and Top Hacks of 2019
2.12.2019
This time we're talking crypto and traditional market, an ethereum developer in hot water after alleged sanction busting, and a look at this years biggest exchange hacks
Police Hit CEO of ‘Top 3’ South Korean Exchange with Assault Wrap
28.11.2019
South Korean cryptocurrency exchanges are enduring a torrid week – with the CEO of what media outlets are calling a “top-three” crypto trading platform facing assault and extortion charges.
Per Maeil Kyungjae, police in Gangnam, Seoul, have charged the unnamed exchange’s CEO, who for legal reasons...
South Korean Committee Passes Bill Enforcing FATF Crypto Rules
27.11.2019
South Korea’s national policy committee has passed an amendment establishing a legal framework for cryptocurrencies. It requires crypto exchanges and service providers to register with the country’s financial regulator and comply with the recommendations set by the Financial Action Task...
Big South Korean Companies Continue Blockchain Spending Drive
18.11.2019
South Korea’s biggest businesses are continuing to dominate the nation’s blockchain industry.
Per news outlet Maeil Kyungjae, the country’s Software Policy & Research Institute has revealed that seven out of South Korea’s top 10 largest companies have begun integrating blockchain technology...
South Korean Exchange CEO Sentenced to 16 Years in Prison
13.11.2019
A South Korean district court has sentenced executives of a local crypto exchange to prison. The CEO of the exchange got a 16-year jail sentence while other executives and their accomplices got between six and 11 years. They duped thousands of investors, promising them up to 200% return within...
8 South Korean Crypto Exchange Execs Jailed in USD 386m Fraud Wrap
12.11.2019
Source: iStock/st_lux
A court in South Korea has jailed the head of cryptocurrency exchange Coinup for 16 years, after convicting him of fraud. Eight other executives from the exchange were also given jail time, with the company’s vice president given an 11-year prison term.
The Seoul court ruled...
UN Claims Hong Kong Blockchain Firm Is North Korean Laundering Sham
6.11.2019
United Nations committee accuses North Korea of using a Hong Kong blockchain firm as a front to launder funds