South Korea Financial News

30.11 / 06:59

business Stablecoin DLT Hedera and Korea's Shinhan Bank partner on KRW stablecoin pilot

South Korea’s Shinhan Bank and Hedera Hashgraph (HBAR) have completed a proof of concept that is designed to conduct international remittances using stablecoins on the Hedera Network.

30.11 / 04:49

regulation taxation lawmakers Deal South Korean lawmakers inch closer to deal to delay crypto tax by one year

In what could be a big win for the local crypto industry, South Korean lawmakers are close to delaying taxation on digital assets for another year.

29.11 / 23:37

Digital Bitcoin South Korean legislators agree to delay taxation of cryptocurrency capital gains

Recurring regulatory hurdles over the past year have had a deep impact on South Korea’s booming cryptocurrency industry. Many exchanges and businesses have had to shut shop in the country. Another source of uncertainty had been the looming plan for taxation on cryptocurrency gains, which were set to take effect next year.

29.11 / 20:11

Ethereum ETF Google Bitcoin El Salvador Buys Bitcoin Dip Again, WisdomTree Launches 3 Crypto ETPs + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________

29.11 / 20:11

Law Ban Law Decoded: India ponders going full China on crypto, Nov. 22–29

Are big emerging economies more likely to gravitate toward blanket crypto bans? China has set a precedent, and now it appears as if India could be weighing a similar policy direction: A bill containing a proposed ban on all “private cryptocurrencies” will go in front of the nation’s parliament sometime this winter. The measure is designed to clear the way for India’s central bank to advance its digital currency agenda.

27.11 / 01:07

regulation Tax South Korean Political Parties in ‘De Facto Agreement’ over Crypto Tax Delay

The protracted political struggle over the South Korean crypto tax has entered a new – and possibly decisive chapter – with the major parties reaching a “de facto consensus” over a delay that could see traders allowed to transact tax-free until 2024.

26.11 / 23:39

Digital LocalBitcoins Bitcoin surges regulatory Despite regulatory headwinds, P2P crypto trading surges in South Korea

Despite fears of another regulatory crackdown, South Korea’s digital asset market has been growing well, and peer-to-peer Bitcoin trading is still surging, hitting all-time highs over November.

26.11 / 17:37

UPS Provident FIVE stake Amid tightening regulations in South Korea, Vidente eyes controlling stake in Bithumb

South Korea’s anti-money laundering unit recently approved Bithumb’s application to enable crypto services. Soon after, local reports claimed that the exchange’s largest shareholder is eyeing a controlling stake.

26.11 / 08:27

regulation Platform Nov South Korean regulator proposes strict new rules for token issuers

South Korea’s Financial Services Commission (FSC) has issued a report outlining its new definition of cryptocurrencies, along with proposed procedures for token issuers and punishments for non-compliance.

26.11 / 04:07

regulation Tax South Korean Parliament Tries to Push Through Crypto Tax Delay, Gov’t Fights Back

The South Korean government is on a collision course with lawmakers on both sides of the National Assembly on the issue of crypto tax.

25.11 / 16:45

Blockchain regulation Gaming South Korean Gaming Watchdog Won’t Budge on Tough Anti-NFT Stance

South Korea’s gaming regulator has reiterated its stance that games that feature tradeable non-fungible tokens (NFTs) cannot be distributed in the nation.

25.11 / 09:07

UPS Lowe's Bank of Korea Raises Rates Again With an Eye on Inflation

South Korea raised interest rates for the second time in three months, expressing confidence in the global economic recovery while giving priority to moves to curb accelerating inflation and soaring household debt.

24.11 / 14:45

Stablecoin defi regulation South Korean Draft Law Calls for Life Sentences for Crypto Market Manipulators

The South Korean government has unveiled a new draft crypto law that includes strict punishment for token market manipulation-related offenses – proposing massive fines and hefty jail sentences for offenders.

24.11 / 06:53

regulation Taxes Mixed messages on crypto tax rules create confusion in South Korea

South Korean government officials have created confusion this year with conflicting announcements regarding a possible repeal or amendment of the upcoming crypto tax set to come into effect in 2022.

24.11 / 00:44

Government Blockchain Taxes Financial South Korea financial authority rules that NFTs are taxable

South Korea’s Financial Services Commission, or FSC, announced Tuesday that nonfungible tokens, or NFTs, will be taxed starting next year. According to The Korea Herald, this tax law amendment would impose a 20% tax on income from virtual assets that exceed 2.5 million won ($2,102) as of Jan. 1, 2022.

23.11 / 12:41

Technology Money restrictions Czechs protest restrictions on unvaccinated as cases soar

Protesters marched through the Czech capital of Prague on Monday to decry the government’s restrictions on unvaccinated people as new infections soared in the European Union nation.

23.11 / 04:19

regulation exchanges Bithumb South Korean Crypto Exchange Heavyweight Bithumb Gains Operating Permit

The last of the South Korean “big four” crypto exchange platforms – Bithumb – has finally received an operating license from the nation’s financial regulator, the Financial Intelligence Unit (FIU).

22.11 / 23:34

Provident Coinone CEO Platform After approval, can Bithumb shake Upbit’s crypto monopoly in South Korea

H2: Bithumb crypto approval to compete with Upbit’s market dominance in South Korea

22.11 / 12:45

Blockchain Digital Citizens Support S. Korea's Democratic Party Backs Support for Crypto, Metaverse

Song Young-gil, leader of the ruling Democratic Party, stated that the South Korean government should stop the crackdown on the crypto sector and start nurturing it instead.

20.11 / 05:05

Blockchain cryptocurrency Crypto Policy Ruling South Korean Party Makes Pro-Crypto Policy U-Turn

The head of the ruling Democratic Party in South Korea has promised to make a dramatic U-turn on crypto policy, claiming that “the time has come” for the government to stop regulating crypto and start “fostering” the industry.

19.11 / 06:05

NFT Polygon layer2 South Korea's leading blockchain facing greater competition in NFT market

South Korea’s nonfungible token (NFT) space has rapidly expanded throughout 2021 led by the growth of crypto and NFT services offered by Kakao, but competitors are entering the fray.

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