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South Korean Local Stablecoin Operator Posts Record Profits
15.7.2020
Business appears to be booming for a company operating an increasingly large number of South Korean local stablecoins.
Per Fn News, the Korea Minting and Security Printing Corporation (KOMSCO) – the company that has printed banknotes and minted coins for the nation’s treasury for the past 70 or...
South Korean Central Bank Launches CBDC Legal Advisory Unit
14.7.2020
The Bank of Korea in Seoul. South Korea is once again intensifying the pace of its central bank digital currency (CBDC) progress – with a central bank-run team now investigating legal obstacles that might stand in the way of digital won issuance.
Bitter political and financial rival Japan last week...
South Korean MP Makes Bid to Impose Capital Gains Tax on Crypto
10.7.2020
Yang Kyung-sook. Source: Twitter, @yangkyungsook
An influential South Korean MP has put forward a private members’ bill that would see crypto taxed under the nation’s capital gains tax laws.
Per Jose Ilbo, Yang Kyung-sook, an MP for the ruling Democratic Party and a member of the National...
South Korean National Assembly to Discuss Crypto Transaction Transparency
9.7.2020
South Korean legislature will host a seminar to address crypto laundering and other related topics
South Korean Blockchain Patents Applications ‘Surging’
8.7.2020
Blockchain technology-related patent applications surged in South Korea last year, and appear to be rising further this year in wake of the coronavirus pandemic.
Per the Korean Intellectual Property Office (KIPO), a total of 1,301 blockchain patents were registered in the country last year, a rise...
More South Korean Banks May Look to Start Crypto Operations
4.7.2020
More South Korean conventional finance firms are set to follow Nonghyup (NH Bank) into the cryptoasset industry, say experts, academics, and industry insiders – who think regulators may offer banks safe passage into the crypto sector.
As reported earlier this week, NH has announced it will begin...
South Korean NGO Announces Blockchain-Based Healthcare Platform
2.7.2020
The Commons Foundation unveiled plans to build a blockchain platform to track COVID-19 cases in South Korea
South Korean Giant to Begin Crypto Custody for Institutional Investors
2.7.2020
One of South Korea’s biggest commercial banks, NongHyup (NH Bank) said it is working on a cryptoasset custodial services platform for institutional investors.
Per ET News, the bank said that it wants to launch crypto “ecosystem” operations, and also spoke of its long-term plans which include...
Investors Defrauded by South Korean Pyramid Scheme
30.6.2020
An alleged crypto pyramid scheme stole hundreds of millions of dollars from investors
South Korean Government Turns to Blockchain Tech to More Reliably Store Clinical Diabetes Data
29.6.2020
The government has asked startup Sendsquare to develop a proof-of-concept blockchain registry to help analyze, anonymize and store clinical diabetes data
South Korean Crypto Exchange Bithumb Hoping to Launch IPO
24.6.2020
The world of cryptocurrencies in South Korea could be set for a major shake-up with leading cryptocurrency exchange Bithumb hoping to launch an initial public offering (IPO).
Per Money Today, Bithumb has already selected Samsung Securities as its host and has “begun work” on the IPO preparation...
South Korean Economist Warns New Tax Laws May Slow Down Crypto Market Growth
23.6.2020
South Korea economist worries that tough regulation would slow down crypto’s growth
South Korean Soccer League Tokenizes Players for Fantasy Football Game
18.6.2020
A new licensing agreement between the South Korean soccer league and Sorare will bring on over 400 K League players on to the fantasy soccer platform
South Korean Public Power Firm Takes Blockchain Plunge
17.6.2020
South Korean energy provider the Korea Electric Power Exchange (KPX) has become the first public institution in the country to adopt a blockchain-based proposal evaluation system.
Per a report from Energy Daily, KPX will now use a Hyperledger Fabric-based solution to weigh up power-related business...
South Korean Crypto Tax Reports, Canada's CBDC + More News
17.6.2020
Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.
Regulation news
South Korea’s deputy prime minister and finance ministry chief Hong Nam-ki has confirmed the reports about...
South Korean Bitcoin Tax Amendments to Be Unveiled in July
15.6.2020
South Korean crypto tax legislation is set for a July rollout. The government appears to have settled on a means of ensuring citizens pay tax on their cryptoasset earnings – and will attempt to tax crypto “like real estate.”
Although it has yet to make a formal announcement on the matter, a number...
South Korean Experts Say Crypto is a Poor Safe-Haven Asset
12.6.2020
A leading South Korean professor from the Hongik University does not believe cryptocurrencies are safe from market recession
South Korean Police on the Hunt for Ethereum Crime Ring Masterminds
12.6.2020
The Seoul Metropolitan Police seize two unnamed local crypto exchanges in an effort to dismantle an ETH-related crime ring
South Korean Police Bust Suspected USD 41.5M Ethereum Crime Ring
12.6.2020
Police in Seoul, South Korea, have searched and seized data from at least two unnamed crypto exchanges in the hunt for the masterminds of a suspected ethereum (ETH) fraud ring believed to be worth at least USD 41.5 million.
Per reports from KBS and Joongang Ilbo, the ring made use of multi-level...
South Korean Insurance Giant to Use Blockchain Tech for Mobile Messages
11.6.2020
South Korean insurance giant KB Insurance plans to implement a blockchain-enabled mobile message delivery system for its clients