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South Korea focuses on OTC crypto regulations as unlawful deals reach $4B
18.9.2023
According to the Korea Customs Service report, the value of unlawful foreign exchange transactions made using virtual currency was estimated to be worth $4 billion last year
Crypto Biz: Coinbase’s lending bet, a new ads policy at Google and Marathon’s mining performance
8.9.2023
This week’s Crypto Biz explores Coinbase's lending platform, Marathon Digital’s latest Bitcoin mining report, Hana Bank’s move to offer crypto custody and Google’s new crypto ads policy
South Korea passes bill to make officials disclose Bitcoin holdings
25.5.2023
The “Kim Nam-guk Prevention Law” comes in response to a scandal involving some National Assembly members moving large amounts of crypto
North Korea Hackers Likely Exploit Cloud Mining to Launder Stolen Crypto, Research Shows
28.3.2023
The APT43 group steals crypto to fund operations and launders it through cloud mining services
South Korean foreign ministry orders Do Kwon to return his passport
6.10.2022
Do Kwon who has an Interpol notice and an arrest warrant against his name has not been cooperative with the investigation agencies
South Korea postpones 20% tax on crypto gains to 2025
21.7.2022
The delay comes just a couple of months after newly elected president Yoon Suk-yeol promised to work on regulations first
Media & Police Investigate Crypto Links as Family Found Dead in South Korean Sea
1.7.2022
Police in South Korea investigating the deaths of a 10-year-old child named Cho Yu-na and both of her parents have announced that the family had made numerous bitcoin (BTC) investments, but denied there was any evidence of luna classic (LUNAC) investments.
The bodies of the trio were found in...
Crypto-friendly Yoon Suk-yeol wins Sth Korean presidency, ICX surges 60%
10.3.2022
Conservative, crypto-friendly candidate Yoon Suk-yeol has claimed victory in the South Korean presidential election, with the token used to mint his signature as an NFT surging 60%
Coinone will stop withdrawals to unverified external wallets
29.12.2021
The exchange plans to verify users’ names and resident registration details to ensure crypto transactions were “not used for illegal activities such as money laundering.”
Seoul government seizes $22M worth of crypto from tax evaders
23.4.2021
The City of Seoul becomes the first city in South Korea to confiscate cryptocurrencies owned by tax delinquents
South Korean Government Seeks to Regulate International Remittances Related to Crypto ‘Kimchi Premium’
22.4.2021
The famous gap in cryptocurrency prices in South Korean crypto exchanges and overseas ones known as “kimchi premium” raises some concerns among the nation’s government. The latest reports suggest that the country is planning to regulate international remittances tied to kimchi...
South Korean City Threatens to Seize Cryptos From Tax Evaders
16.4.2021
Crypto tax evasion is becoming a hot potato for the authorities in some Asian countries, such as Japan and South Korea. A South Korean city is now actively fighting against tax evaders who are suspiciously reporting meager earnings in their filings. 511 Individuals in the Authorities’ Eyes...
OKEx Korea crypto exchange to shut down as new reporting laws take effect
23.3.2021
OKEx Korea announced that it's shutting down as South Korean authorities prepare to enforce a new regulatory framework for the crypto industry on Thursday
South Koreans Are Required to Pay Taxes for Crypto Holdings in Overseas Exchanges, Authorities Warn
20.3.2021
South Korean tax authorities are unstoppable in keeping crypto holders in their eyes and making them accountable to pay taxes. The National Tax Service (NTS) has issued a warning to the crypto traders that they have to report their earnings even from tokens held in foreign exchanges. No Details...
South Korean Tax Agency Identifies Over 2,400 Evaders Who Used Cryptocurrencies to Bypass Taxation
17.3.2021
South Korean authorities seem to be focusing on strengthening measures to combat tax evasion across the nation. The country’s tax watchdog profiled thousands of evaders that relied on cryptocurrencies to hide assets worth billions of Korean won. Evaders Hid a Total of $32.24 Million in Assets...
South Korea fastracks 20% tax on Bitcoin and crypto profits to 2022
22.2.2021
After much back and forth, South Korea appears to have finally set a hard date for the dawn of cryptocurrency taxation
First Mover: Bitcoin Hits Record as `Blue Wave’ and `Kimchi Premium’ Look Bullish
6.1.2021
Bitcoin surges above $35K for first time with U.S. Democrats poised to take full control of government and 'Kimchi premium' back in force
Bitcoin Retail FOMO Brings a Heap of ‘Kimchi Premium’ to S. Korea
5.1.2021
Bitcoin's price premiums on South Korean exchanges have returned amid the latest bitcoin bull market
Why Banks Keep Blocking Cryptocurrency-Related Transactions
12.7.2020
The close interaction between traditional finance and regulators is the key element in the development of the cryptocurrency industry
Regulatory Roundup: French Court Considers Bitcoin Money, Cryptocurrencies Legitimized in South Korea, Australia, India
10.3.2020
The cryptocurrency sector worldwide saw several historic regulatory events last week. In this roundup, we cover a landmark bitcoin ruling by a French court, South Korea’s first crypto bill, an Australian court’s ruling, Germany’s announcement, and a recent FATF meeting where more...