Tag Archives: South Korea

Crypto Firms To Start Paying Tax In South Korea

The South Korean government has introduced a new tax amendment bill that will see Crypto companies based in the country start to pay taxes. Currently, the businesses enjoy income and corporate tax deductions. The government had introduced the deductions with the aim of attracting more firms in the country and helping the companies grow. However, […]

Binance To Enter The South Korean Crypto Market

Business Korea has said that Binance is planning to enter the South Korean Crypto market. This year, the company will open between three and five local corporations in the country. The Cryptocurrency exchange is considered the largest one in the world in terms of daily trading volume. The firm is entering a market that is […]

Major Crypto Regulation Changes in South Korea

Some new Cryptocurrency policies will be introduced in a major restructuring in South Korea’s top financial regulator. The country is also planning to introduce an agency that will only deal with financial innovations such as Cryptocurrencies. South Korea has also entered into an agreement with China regarding the virtual currencies and initial coin offerings. Meanwhile, […]

South Korean Government Blamed For Not Doing Enough To Control Crypto Exchange Hacks

The South Korean government is not doing enough to fight Cryptocurrency exchange hacks in the country according to some critics. Three exchanges that had already gone through the government’s inspection have so far lost almost $1 billion to hackers. Meanwhile, Upbit, one of the largest exchanges in the country has dismissed rumors that its system […]

Crypto Regulation: Weekly Roundup #26

Malta Three new crypto regulation laws Malta passes three Blockchain laws which are mainly of regulatory nature. Companies that conduct ICOs are required to publish whitepapers that outline their projects in detail. Also, they have to publish their complete financial history. The market regards this regulation as positive. While Malta hopes to attract more crypto […]

South Korean Government To Help In Investigating Crypto Hacks

The government of South Korea has launched investigations into the increased cases of Crypto hacks in the country. The country’s Crypto Exchanges have become victims of the recent hacks leading to the loss of virtual currencies worth millions of dollars. The government will also carry out security checks on the individual Crypto exchanges’ system. Government’s […]

South Korean Government Introduces New Regulatory Measures In The Wake Of Increased Crypto Exchange Hacks

In response to the multiple hack attacks on Crypto exchanges, the South Korean Government has said that it will strengthen the sector regulatory framework. Under a new bill that has already been tabled in the country’s parliament, Crypto Exchanges will have more obligations in the future. Why The New Bill Is Important Recently, cases of […]

Korean Banks Fail Crypto Exchanges In The War Against Money Laundering

Major Crypto Exchanges in South Korea are voluntarily complying with the government’s anti-money laundering (AML) oversight. However, Korean banks have been blamed for lagging behind in this war. The country is on the way to improving its Crypto-related AML measures with their American counterparts. The Banks’ Effort To Comply With AML Measures Not Enough The […]

Bitcoin Investors Continue To Record Huge Losses After A Hack In South Korea

Bitcoin prices have hit their lowest levels this year after a South Korean exchange reported a hack on its system over the weekend. The exchange reported a loss of up to a third of its coins. The attack has renewed questions about security on the various Cryptocurrency exchanges. Cryptocurrency Hack In South Korea A South […]

South Korea’s Bithumb To Restrict Its Use In 11 Countries

In the wake of an increase in money laundering through Cryptocurrency, Bithumb has announced the revision of its internal regulation to limit its use in some countries. According to a statement from the company, the decision to block the 11 members from Non-Cooperative Countries and Territories (NCCT) countries will be done with the aim of […]