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Donated or Inherited Virtual Assets to Be Taxed by South Korea’s NTS
31.12.2021
Starting in the year 2022, donated or inherited virtual assets will be assessed and taxed accordingly, South Korea’s National Tax Service has said. Dunamu, Bithumb Korea, Korbit, and Coinone are the new virtual asset service providers (VASPs) tasked with evaluating digital assets for such...
S Korean Lawmaker to Launch Bitcoin, ETH Political Donations Platform – with NFT Receipts
30.12.2021
A South Korean MP has unveiled plans to create a political donations platform for cryptoassets such as bitcoin (BTC) and ethereum (ETH) – with receipts issued in the form of non-fungible tokens (NFTs).
According to the news agency Yonhap, the project is the brainchild of Lee Kwang-jae, an...
Crypto News Rewind 2021: Q3 - Bitcoin Becomes Legal Tender & Gets Taproot, Improved Ethereum, NFTzation
30.12.2021
Here is what happened in the Cryptoworld in the third quarter of this year:
Total crypto market capitalization in Q3
And with this ended the third quarter of 2021.
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Read More: Crypto News Rewind 2021: Q3 - Bitcoin Becomes Legal Tender & Gets Taproot, Improved Ethereum, NFTzation
South Korean crypto exchanges to follow Coinone in verifying private wallets
30.12.2021
South Korean exchanges will require users to verify their third-party wallet addresses to help the country comply with FATF travel rule guidelines
South Korea to Tax Crypto Gifts, Inheritances, Plans Crackdown on Manipulators
29.12.2021
The South Korean tax body has announced plans to start taxing crypto gifts and inherited tokens – although taxes will need to be paid in fiat using complicated-sounding methods. And Seoul has also announced that it will intensify its crackdown on crypto market manipulation....
Read More: South...
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.”
Coinone Sends KYC Warning to Users of Centralized Crypto Exchanges
29.12.2021
One of South Korea’s biggest crypto exchanges – Coinone – has told its customers that they will no longer be able to make withdrawals to “unregistered” wallet addresses as of next month. Observers both in South Korea and overseas say that similar measures may become commonplace for major trading...
Crypto News Rewind 2021: Q2 - Bitcoin Crash, China’s Crypto Crackdown, El Salvador's BTC Move, Musk vs BTC
29.12.2021
Here is what happened in the Cryptoworld in the second quarter of this year:
Total crypto market capitalization in Q2
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Learn more:- Crypto News Rewind 2021: Q1 - Rallies, Tesla & MicroStrategy & PayPal Bitcoin Moves, Historic NFT Moments ...
Read More: Crypto News Rewind 2021:...
South Korean Gaming Regulator to Force Crypto Games off Google, Apple App Marketplaces
29.12.2021
South Korea’s gaming regulator has extended the scope of its crypto and blockchain gaming freeze-out by warning developers they must remove play-to-earn titles from the Google Play and the Apple App Store....
Read More: South Korean Gaming Regulator to Force Crypto Games off Google, Apple...
S Korea Now Has 24 Licenced Crypto Exchanges – But Most Are Stuck in Crypto-to-Crypto Purgatory
28.12.2021
Medium-sized South Korean crypto exchanges are gunning for the “big four” trading platforms’ vice-like grip on the industry – but vital banking breakthroughs are still proving elusive....
Read More: S Korea Now Has 24 Licenced Crypto Exchanges – But Most Are Stuck in Crypto-to-Crypto Purgatory
‘Big Four’ S Korean Crypto Exchanges Hired 600+ Employees in 2021 – And They’re Not Done Yet
24.12.2021
South Korea’s biggest crypto exchanges appear to be on an expansion drive – and have hired 620 new staff members this year.
Per the media outlet The Fact, the “big four” crypto trading platforms in the nation – Upbit, Bithumb, Korbit and Coinone – have been growing their workforces in 2021....
Banking Giant KB Creates Crypto, NFT & CBDC-compatible Wallets
23.12.2021
The South Korean banking giant Kookmin Bank (KB) says it has developed new multi-coin wallets that are capable of storing non-fungible tokens (NFT) and various tokens including central bank-issued coins.
Per Fn News, KB has developed solutions using the Klaytn blockchain protocol, which...
Crypto Pay on the Rise in South Korea as Commercial Giants Ink Partnership Deals
22.12.2021
South Korean retail chains are embracing crypto- and blockchain-powered payment platforms – and so are their customers, according to new industry data.
Per the Kookmin Ilbo, there has been a 136.6% rise in the number of crypto- and blockchain-powered pay transactions over the course of the past...
Upbit crypto exchange's blockchain sister firm raises $60M
16.12.2021
Upbit operator Dunamu plans to expand its joint NFT venture with South Korean entertainment firm HYBE
This Is How Fake Bitbuy Crypto Exchange Scammed Investors
15.12.2021
South Korean police have swooped on the operators of what they say was a scam crypto exchange that sucked in 12,000 victims – after claiming investors could use it to make compound interest gains of a whopping 0.5% every eight hours.
Per Herald Kyungjae, the firm posed as a South Korean affiliate...
Korean Officials Quit Jobs to Join Crypto Industry, Lawmaker Reveals
13.12.2021
Public officials in South Korea are increasingly choosing career opportunities in the cryptocurrency sector. Some of them come from financial authorities which raises ethical questions, according to the findings of a Korean lawmaker, quoted by local media. Former Financial Officials Hired by Major...
South Korea’s Potential Next President Calls Crypto ‘A Means of Trading & Investment’
7.12.2021
South Korea’s newly crypto-keen presidential candidate Lee Jae-myung has doubled down on his admiration for crypto: Fresh from telling the public that he was thinking of creating and issuing a national cryptoasset, the ruling Democratic Party presidential nominee has heaped more praise on crypto...
KYC Drive Causes Bithumb Disruption: Logins, Transactions Affected
3.12.2021
The South Korean crypto trading platform Bithumb has been hit by disrupted transactions, with deposits and withdrawals requests encountering “errors” – with customers rushing to complete new know-your-customer (KYC) procedures.
Bithumb users reported disruptions as the number of users trying...
Crypto Fans Build Up Their Power as S Korean Politicians Delay Crypto Tax
3.12.2021
South Korean MPs have finally overturned the government on its proposed crypto tax plans, ending a long saga that pitted lawmakers against the large crypto-skeptic administration of President Moon Jae-in....
Read More: Crypto Fans Build Up Their Power as S Korean Politicians Delay Crypto Tax
‘Time Has Come to Embrace Crypto,’ Says South Korea Stock Exchange Chief
2.12.2021
South Korea’s securities exchange operator, the Korea Exchange (KRX), is “studying” ways to “embrace cryptoassets,” its Chairman has stated.
According to Chosun and Seoul Shinmun, the KRX chief Sohn Byung-du told attendees at a financial conference that “it is time to explore how we can embrace...