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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...
South Korean Gov’t Has ‘Invested USD 44.5m in Crypto Firms Since 2017’
6.5.2021
Opposition lawmakers have launched a stinging attack on the South Korean government, accusing it of hypocrisy after it emerged that publicly owned companies and government departments have invested a combined USD 44.5m in crypto-related projects in the past four years.
The data was compiled by...
Venture Capitalist Proposes a Single Decentralized Crypto as a Solution to Boost Africa’s Inter-Regional Trade
6.5.2021
South African venture capitalist, Michael Jordaan, recently suggested that a single decentralized cryptocurrency may be the solution that brings great benefits to inter-regional trade and investment in Africa. According to Jordaan, who is also the former CEO of one of South Africa’s leading...
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....
Yearn Finance Founder Andre Cronje Set to Fight the Rug Pulled Crypto Messiah in a Dubai Boxing Match
6.5.2021
South African crypto entrepreneur and Yearn Finance founder, Andre Cronje, is set to brawl Crypto Messiah in a physical fight at a Dubai crypto conference. The event, which has been dubbed the Cryptocurrency International boxing match, is scheduled to take place on October 15. Pledged Prize Goes...
Bitso reportedly becomes Latin America’s first billion-dollar crypto exchange
5.5.2021
The startup has a total value of $2.2 billion following its latest Series C investment round
South Korean Crypto Tax U-Turn Looking Unlikely, Despite Outcry
5.5.2021
Despite the recent outcry about crypto tax among younger South Koreans, a new small survey has found that most of the respondents are in favor of imposing taxes on crypto traders’ profits.
Per Segye Ilbo and Chosun, the survey quizzed 500 people aged 18 and over nationwide and was commissioned...