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South Korea’s Largest Bank Unveils Bitcoin Custody Services


KB Kookmin Bank (KB), the largest commercial bank in South Korea, has agreed on a deal with blockchain venture fund Hashed and crypto exchange Cumberland Korea to offer bitcoin custody services. In January, the government-owned bank filed its trademark application for digital assets custody with...

Four of South Korea’s Biggest Banks to Provide Data for DeFi Platform


Four major South Korean banks said they will contribute to a blockchain-powered decentralized finance (DeFi) solution for foreign currency exchange rates. Per D Daily, Shinhan Bank, IBK Bank, KEB Hana Bank and Nonghyup (NH Bank) will take part in a joint project involving Oracle’s Chainlink (LINK)...

South Korea to Charge 20% Tax on Bitcoin Profits Under New Law


South Korea will now tax profits made from buying and selling of cryptocurrency at 20% after the government agreed to the decision on Wednesday. The decision was reached after months of debate. According to a taxation policy amendment notice released July 22, the Ministry of Economy and Finance...

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