South Korea

Crypto taxation: South Korea lawmakers seek extension and tax rate adjustment

TL;DR Breakdown: The People Power Party of South Korea is proposing a further delay and adjustment of the planned tax… Read More

October 11, 2021

Crypto income to be taxed in South Korea amidst crackdown

TL;DR Breakdown South Korea to tax crypto income amidst crackdown.Government divided on when to begin implementing crypto income tax policy.Only… Read More

October 3, 2021

Crypto exchanges face extinction in South Korea

TL;DR Breakdown • South Korea regulates cryptocurrencies by following China's actions.• Crypto exchanges like Gopax are canceled for not complying… Read More

September 27, 2021

New South Korean rule might oust 40 crypto exchanges this month

TL;DR Breakdown: Majority of South Korean crypto exchanges are on the brink of being shut down this month.The Korean authorities… Read More

September 13, 2021

Korea CBDC to pilot CBDC test on Samsung Galaxy phones

TL;DR Breakdown Korea test CBDC on Samsung galaxy phones.Pilot test to help ascertain possibilities of conducting payment through mobile phones.Samsung… Read More

August 15, 2021

Binance Exchange limits product offering in South Korea

TL;DR Breakdown Binance limits product offering in Korea to meet regulatory demandsExchange yet to face any regulatory pressure from Korean… Read More

August 13, 2021

South Korean banks with crypto patnerships report huge profits for Q2 2021

TL;DR Breakdown South Korean banks have made record profits this quarter when it comes to transaction profits, all thanks to… Read More

August 10, 2021

Crypto crackdown bites harder in Korea as authorities shut down 11 exchanges

TL;DR Breakdown Authorities in Korea toughen crypto regulation.FSC set to crackdown on 11 small exchange firms.Exchanges revolt against tough crypto… Read More

August 3, 2021

South Korea threatens operators of unregistered crypto exchanges with jail time

TL;DR Breakdown Authorities in Korea warns of clampdown on exchange firms again.Says unregistered crypto firm risks 5 years jail term… Read More

July 22, 2021

Crypto regulation: 578 cryptocurrencies under scrutiny by South Korean authority

TL;DR Breakdown South Koran authority analyzing 578 crypto for proper crypto regulationFSC boss notes that all crypto exchange must be… Read More

July 14, 2021

South Korean bank Woori to begin crypto custody service

TL;DR Breakdown South Korean banks show continued interest in crypto marketWoori, latest Korea bank to plan joining the crypto industryBefore… Read More

July 12, 2021

South Korea apprehends 33 crypto offenders, charges them for $1.4B fraud

TL;DR Breakdown South Korea apprehends 33 crypto offenders for siphoning $1.4 billion.The crypto offenders forged remittance records to aid their… Read More

July 7, 2021

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