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South Korean Government Continues to Scale Back Anti-Crypto Rhetoric
19.5.2021
Statue of the Lying Buddha of Miamsa Temple in Naesan-myeon, Buyeo-gun, South Korea. Hong Nam-ki, the South Korean Deputy Prime Minister and the nation’s finance minister, has spoken about government plans to create more opportunities for young people – including on “domestic asset markets.”
In...
South Korean Ministries ‘Do Not Want’ to Take Charge of Crypto-Related Regulation, Claims Official
18.5.2021
The crypto regulation crisis is on fire in South Korea, as politicians have struggled to reach agreements with top government officials to ease rulings. A local media outlet reveals that South Korean ministries “do not want” to take charge of the country’s digital assets’...
Report: South African Taxes and Smuggling Behind Gold’s Price Distortions in Zimbabwe
18.5.2021
Despite gold’s longstanding status as an alternative store of value, the commodity continues to experience unusual price variations in countries like South Africa and Zimbabwe. In turn, such price variances, as well as the rampant smuggling of the commodity, are distorting the precious...
China Building Full-Sized Titanic Replica As Tourist Attraction
17.5.2021
At the end of this year, a theme park in Suining, China is slated to finish a full-sized version of the Titanic.Read more
‘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 Korean Political Heavyweight Lashes Out at Gov’t Crypto Policy
15.5.2021
Ahn Chul-soo. Source: A screenshot, Instagram/ahncheolsoo
The founder of a leading opposition party, the tech guru Ahn Chul-soo of the software giant and antivirus provider AhnLab, has hit out at the South Korean government’s crypto policy.
Per Maeil Kyungjae, Ahn lashed out at the ruling...
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’...
Mastercard Payment Index: More Consumers in Three African Countries Plan to Use Crypto Based Payment Methods
12.5.2021
According to a recent Mastercard payment index report, the Covid-19 related lockdowns helped spread the use of cryptocurrency in three African countries, namely Nigeria, Kenya, and South Africa. The report also reveals that a greater number of consumers from these countries are “likely to...
South Korean Parliamentary Advisory Body: Make a Central Crypto Regulator
12.5.2021
A South Korean National Assembly-affiliated body has formulated a set of recommendations for further regulating the nation’s crypto industry, including the creation of a new government-run department for crypto-related matters.
According to Herald Kyungjae and Chosun, the National Assembly Research...
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
‘Elderly’ South Korean Crypto Fans Brave 30-min Waits at Customer Centers
11.5.2021
South Korean Crypto Fever 2.0 shows no sign of abating – with customers weathering waiting time of 30 minutes or more as queues of wannabe investors wait to get face-to-face service from the crypto exchange Bithumb’s reopened offline center in Seoul’s affluent Gangnam District.
As previously...
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 African Tax Collector Targeting Crypto Investors in Its Bid to Raise Extra Revenues
10.5.2021
Latest reports from South Africa suggest that the country’s tax agency will now be targeting cryptocurrency investors as it attempts to increase the total value of revenues collected. Alongside high net worth individuals and offshore investors, digital currency holders now constitute an area...
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 African Regulator Apologizes to Crypto Firm After Issuing Then Withdrawing a Warning in Less Than 24 Hours
9.5.2021
South Africa’s Financial Sector Conduct Authority (FSCA) has apologized to a Cape Town-based crypto start, Ovex, less than 24 hours after warning that the firm was operating outside the law. Ovex Does Not Require Licence From FSCA In its May 7 retraction, the financial watchdog said...
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...