South Korea’s central bank is the latest entity seeking powers to monitor crypto trading activity in the country.
A banking association in South Korea recently added weight to regulatory discussions across the country, raising concerns about the high altcoin trading volume. The Korea Federation of Banks (KFB) requested its members to audit trading volumes through their crypto exchanges’ customers’ altcoin activity. Altcoins Trading Volume Outperformed Bitcoin Last Weekend in South Korea According to […]
With crypto demand skyrocketing in South Korea, the government is looking to regulate digital assets and the local market is feeling the pressure.
South Korea’s banking body wants crypto exchanges to be wary of the risks of being overexposed to altcoins.
South Korean authorities are intensifying their monitoring of phishing activity related to cryptocurrencies. The government has identified a record number of websites trying to obtain login details from crypto exchange users. Over 30 sites have been taken down in just three months this year. Seoul Strengthens Monitoring of Crypto Phishing Scams Rising market prices have […]
A recent ban imposed by the South Korean National Police Agency will bar particular officers from purchasing additional cryptocurrencies. The announcement coincides with a report revealing a heightened domestic availability of digital coins, in comparison to the global marketplace. South Korea to Penalize National Police Agency Officers Who Fail to Disclose Crypto Holdings Officers with […]
The cryptocurrency industry in South Korea keeps facing regulatory challenges, and it seems that dust is far from settling. Now, crypto miners will be required to pay taxes, following the same path as digital assets traders. Ruling to Take Place Starting 2022 According to a report published by Donga, miners should be accountable for paying […]
Streami, the company behind the popular GOPAX exchange, has received direct funding from Digital Currency Group.
Crypto miners will be able to deduct electricity costs as business expenses when filing cryptocurrency taxes starting in 2022.
Authorities are looking to tighten their grip on the cryptocurrency industry.
Authorities in South Korea have launched a major raid against a domestic crypto exchange allegedly involved in a millionaire multi-level marketing (MLM) fraud. The police accuse V Global platform of running an illicit operation that reportedly stole hundreds of millions of dollars from investors. Masterminds Could Have Defrauded Over 40,000 People According to Yonhap, police […]
Opponents of the government’s plan to tax gains from cryptocurrency trading outnumber supporters among South Koreans in their 20s, a new survey shows. Representatives of other age groups are more open to the proposed taxation of investments in virtual assets. Nearly Half of Young Koreans Reject Tax on Crypto Profits According to the poll, a […]
South Korean political parties are now battling to catch younger votes amid the tough stance among higher government spheres toward digital currencies. As voters are disappointed by how parties are handling the issue, one of them has taken a step forward by talking about the forthcoming crypto tax. The Democratic Party’s Expectations on Cryptocurrencies According […]
More than half of the survey respondents favored the controversial crypto tax law in South Korea.
Regulators in South Korea are reportedly set to give the green light for the country’s first crypto-related investment fund.
Both Coinone and Bithumb have reopened their customer centers in the capital city in response to a surge in domestic interest in cryptocurrencies.
As the South Korean government keeps strengthening the harsh rhetoric against cryptocurrencies, citizens have become increasingly angry due to the recent words from regulatory authorities. Over the weekend, petitions started to appear on the web, seeking the removal of the head of the country’s Financial Services Commission (FSC). Over 141,000 Signatures Collected in One Petition […]
South Korea’s finance minister said that cryptocurrencies like Bitcoin will be taxed as “intangible assets.”
Korea is strengthening its crypto regulations, imposing reporting requirements on all employees of its Financial Services Commission.