Tag: korea
Transaction of own coins banned for cryptocurrency exchanges
The regulatory Financial Services Commission on Thursday said that it will add detailed measures to the legislation governing cryptocurrency exchanges in an effort to...
Crypto Exchanges in South Korea to Be Classified as Highly Risky
South Korea continues to enforce stricter rules on the cryptocurrency space with the latest legislation to classify exchanges as high-risk entities. The move comes...
Upbit, the 1st domestic crypto exchange, issued a cautionary warning for 30 coins.
The following is a notice from upbit posted on June 11th at 5:30 pm.
End of trading support on KRW pair (5 projects)
Dear Upbit...
Bank Of Korea recognizes virtual assets with clear intrinsic value
The Bank of Korea, which is negative for virtual assets such as Bitcoin, has begun to take a positive approach to some virtual assets...
Crypto transaction volume surpasses $43.11 billion, 3x bigger than volume of the country’s two...
South Korean’s frenzy for digital coins, especially alternative coins, has pushed the transaction volume for cryptocurrencies past 45 trillion won ($43.11 billion) in the...
NFT combined with metaverse tourism
‘Non-Fungible Token (NFT)’ is combined with the virtual world (Metaverse) to create a virtual tourism service.
NFT is a technology that gives ownership to digital...
[Part 2] 13 Questions and 13 Answers about virtual asset tax in Korea
7. Local income tax 10%
But actually, the 20% tax isn't everything.
Taxation at 20% does not take into account the 10% local income tax.
What is...
Korea’s Popular Blockchain Platform Klaytn Announces Integration With OpenSea NFT Marketplace
The growing popularity of NFTs is also attracting some of the legacy blockchain platforms in the market. Klaytn, the public blockchain platform by South...
Bank of Korea Chief on CBDC: Better Right Than Fast
Bank of Korea Governor Lee Ju-yeol isn’t bullish on bitcoin, but he sees potential in a central bank digital currency (CBDC), if it’s done...
South Korea’s Cryptocurrency Craze
Cryptocurrency is enjoying its second nationwide boom in South Korea since 2018. This March, users of the two largest cryptocurrency apps tripled to well...
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Ruling and Opposition Parties Agree on Two-Year Delay for Virtual Asset...
The ruling and opposition parties in South Korea have agreed to postpone the taxation on virtual asset income by two years. With the Democratic...
