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S Korean Industry Group Asks Seoul to Suspend Crypto Taxes until 2023
15.10.2020
Source: Adobe/Андрей Яланский
The Korea Blockchain Association (KBA) has urged the South Korean government to postpone plans to start imposing tax on crypto trading profits from October 2021 – stating that it seems unlikely that the required infrastructure will be in place in time.
Per ZDNet Korea...
North Korean crypto hacking: Separating fact from fiction
9.10.2020
"The small IP space/access to the internet in the DPRK, as well as its less connected nature to global/online systems, arguably offers it an asymmetric advantage in relation to cyber operations."
South Korean MP Calls Tax Authority's Bithumb USD 67m Bill ‘Baseless’
9.10.2020
South Korean trading platform Bithumb has won a powerful supporter in its quest to fight an unprecedented multi-million tax bill after an MP and parliamentary finance committee member claimed the nation’s tax authority’s USD 67m tax bill – served to the crypto exchange late last year – has no legal...
South Korean Central Bank to Launch CBDC Pilot in 2021
7.10.2020
The South Korean central bank, the Bank of Korea (BOK) has announced that it is to begin a central bank digital currency (CBDC) pilot next year, in conjunction with major firms and domestic banks.
Per Seoul Shinmun and the Fourth Journal, the BOK has stated that it has completed the design...
South Korean MP Calls on Seoul to ‘Urgently’ Boost Crypto Innovation
7.10.2020
Korean lion dog statue and the National Assembly building, Seoul. A politician has called on South Korea to “urgently” prioritize the development of crypto security technology – stating that blockchain-powered finance is now an inevitable reality for the country, and the rest of the world.
Lee...
South Korean Bank NH Launches Blockchain-powered Document Wallet
29.9.2020
South Korean financial services provider Nonghyup (NH Bank) has begun issuing over a dozen forms of digital certificates using a blockchain-powered system and an e-wallet that will be able to hold hundreds of types of blockchain-verified forms of authentication.
Per the Electronic Times, the bank’s...
NFT Issues Freeze South Korean Gaming Regulator into Inaction
25.9.2020
The debate about blockchain gaming, non-fungible tokens (NFTs) and regulation continues to rumble on in South Korea – with the nation’s gaming commission speaking out about its reasoning for long delays in issuing ratings to blockchain game developers.
As previously reported, video game developer...
Korean Exchanges in Limbo over Customer Social Security Nos Conundrum
24.9.2020
Confusion reigns as to whether South Korean crypto exchanges can – or should – collect their customers’ social security numbers under new Know-Your-Customer (KYC) and anti-money laundering (AML) compliance measures that come into force in a matter of months.
Per Digital Today, exchanges are still...
South Korean regulator is wary of NFT-based games
23.9.2020
The South Korean gaming regulator is reluctant to embrace NFTs
South Korean Crypto Exchanges Search for ‘Seamless’ AML Solutions
19.9.2020
With just months to go before new legislation comes into force requiring all of South Korea’s crypto exchanges to implement strict anti-money laundering (AML) policies, the race is now on to adopt solutions ahead of time – and avoid falling foul of the law.
So which AML solutions are South Korean...
Checking In With Terra, the Korean Stablecoin Firm Bringing Online Shoppers to Crypto
18.9.2020
Terra's stablecoin savings account is a month delayed but the project is gaining momentum with over 2 million users on the firm's Chai payments app
South Korean Police Seize Shares From Major Bithumb Shareholder
18.9.2020
South Korean police have seized shares in Bithumb, the country’s biggest crypto exchange. The shares belong to Bithumb Korea director and major shareholder Kim Byung-Geon. According to a local media report, the police raid – the third on the exchange this month – follows...
South Korean gov pledges to bring blockchain voting into people’s homes
16.9.2020
Blockchain could soon be integrated into South Korean apartments
South Korean police seize Bithumb shares in third raid this month
16.9.2020
The plot thickens as Bithumb director’s shares are seized after he had applied for the seizure of the chairman's shares
Korean Business Heavyweights Team up for Blockchain Insurance Project
16.9.2020
The Hyundai sign on a car. Two of South Korea’s biggest conglomerates will team up to create a blockchain-based insurance offering. The deal will see the Lotte Group’s insurance arm, Lotte Insurance, join forces with the Hyundai Group’s blockchain and crypto subsidiary Hdac for an unprecedented...
South Korean exchange traffic has risen sharply since June — Is this why?
11.9.2020
The boost may come down to the popularity of one specific token
‘North Korean’ Hackers Target Crypto Exchanges, Spread Viruses in Word Doc
11.9.2020
Pyongyang. North Korean hackers are “using fake job offer emails to dupe crypto exchange employees,” warned security experts – and Pyongyang-aligned cyber-terrorists are causing “damage” by circulating “malware-ridden MS Word documents” south of the 38th Parallel.
Gina Kim, an IT security...
Bithumb Exchange’s Offices Raided Again by Korean Authorities: Report
8.9.2020
Local officials are said to have raided Bithumb's offices for the second time in a week as part of a fraud investigation
South Korean police reportedly raid Bithumb for second time
8.9.2020
Bithumb has remained quiet despite the second police raid in the course of a week
Blockchain ID ‘War’ in the Offing as S Korean Giants Prepare Rollouts
8.9.2020
South Koreans are likely to completely do away with plastic ID, social security and driver’s license cards in favor of blockchain technology-powered digital alternatives, per a new report – with some of the biggest companies in the land vying for a stake in the market.
Per Fn News, SK Telecom,...