News about SOUTH KOREA

News about South Korea

South Korean politician calls for Do Kwon to attend hearing on TerraUSD's collapse.

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South Korea Launches “Emergency” Inspection of Crypto Exchanges Following Terra Crash

Financial authorities in South Korea have beefed up crypto exchange inspections to boost investor protection following the recent collapse of LUNA and TerraUSD (UST) tokens Per the : “The Financial Services Commission and the Financial Superv...

South Korea Plans Crypto Legislation By 2024, Leaked Report

In a move that will see South Korea become even more crypto-friendly, President Yoon has announced his intention to establish a new regulatory framework for the crypto industry by 2024. With this new legislation in place and increasing demand for cry...

The Metaverse in South Korea: TopGoal Brings Football to Klaytn Blockchain

The metaverse isn’t merely tech jargon. It’s a whole new virtual reality, evolving rapidly to change lives and industries. Beginning as a sci-fi fantasy two decades ago, the metaverse has now become intertwined with modern life. The estimations of i...

Leaked report: South Korea to establish crypto framework by 2024

The administration of the newly-elected President of South Korea, Yoon Suk-yeol, wastes no time in his drive to maintain the country’s stature as a center for innovation, as South Korea hopes to roll out comprehensive crypto legislation in 2023 and i...

South Korea Postpones Crypto Taxations; Repeals 2017 ICO Ban

South Korea’s incumbent president Yoon Suk-yeol has decided to delay the crypto taxation by reportedly wanting to adopt a different regulatory framework. President-elect Yoon is quite firm on remaining crypto-friendly as he might lift the ban o...

Ethereum co-founder Vitalik Buterin says South Korea should remove regulations

Vitalik Buterin, programmer and co-founder of Ethereum, commented that the South Korean government should "eliminate Blockchain regulations and embrace cryptocurrencies." Vitalik, along with lawmakers from the Asian nation, asked the author...

South Korea’s president-elect announces zero tax on Crypto until consumer protection is ensured

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South Korea's new president delays crypto taxes in favor of consumer protections

South Korea’s newly-elected president Yoon Suk-yeol announced Tuesday he would push to defer taxation on crypto investment gains at least until a new set of regulations called the Digital Asset Basic Act (DABA) is enacted.South Korea’s crypto tax was...

Report: Two South Koreans Paid in Bitcoin to Spy for North Korea

South Korean law enforcement recently announced the arrest of a serving military captain and an operator of a cryptocurrency exchange on charges of spying for a North Korean hacker. In return for the acts of espionage, the two South Korean individual...

South Korea to Delay 20% Capital Gains Tax on Digital Asset Investments until Jan 2025

Choo Kyung-ho, South Korea’s incoming deputy prime minister and finance minister, announced that he would suspend taxation on stocks and cryptocurrency trading scheduled to be implemented next year for about two years. Kyung-ho made such announceme...

South Korean Music Sharing Platform Registers NFT Music Theft Prevention Patent

A South Korean music sharing platform, Koong World, recently announced the registration of a non-fungible token (NFT)-based music theft prevention patent. Using this patent, the music sharing platform aims to “solve the problem of copyrigh...

Cardano, Ripple Make Most Popular Crypto List In South Korea

At this point, it can be truthfully said that crypto has now made its way into the mainstream. Bitcoin which used to only exist on a small part of the internet is now one of the most popular investment assets. As the years have gone by, other cryptoc...

Samsung Throws In $25 Million In South Korean Metaverse Startup DoubleMe

From having their own Metaverse store coined as Samsung 837X in January 2022, Samsung now throws in $25 million in DoubleMe, a metaverse startup based in South Korea. Some of the big companies in South Korea with the likes of Coentry Investment and...

South Korea Begins to Fulfill President Elect’s Pledge to Bolster the NFT Ecosystem

An announcement by South Korea’s Ministry of Culture, Sports and Tourism appeared to fulfill incoming President Yoon Suk-yeol’s pledge to bolster the metaverse ecosystem after saying it will adopt a non-fungible token (NFT) copyright po...

Going to be living in South Korea soon wondering how I can send bitcoin to US resident

Hi, I currently use cashapp to send someone bitcoin every week. I was wondering, will I be able to do that living in South Korea? I know that Cashapp doesn’t work internationally, but when I asked in that sub they said bitcoin was different.Thanks.

South Korean Intelligence Service Informs Crypto Exchanges About Cyberthreats

The South Korean state intelligence agency is now providing crypto trading platforms with information about attempts to breach their cybersecurity. The help for the country’s digital asset exchanges comes amid growing threats, local media repo...

Why Is South Korea Leading in Crypto?

Over the last few years, the astronomical growth in cryptocurrency prices facilitated the surge of crypto and blockchain technology adoption in a few key markets. South Korea is one of them. The nation has always been a leading force and major parti...

South Korean Tech Giant Kakao Acquires Majority Stake In A Japanese Crypto Exchange

A subsidiary of South Korean internet and technology giant Kakao has acquired a majority share in a Japanese cryptocurrency exchange, paving the way for the company to integrate its web-based cartoon content with its crypto services. Kakao Piccoma, a...

South Korea’s Crypto Market Gears up to Legitimacy, With Banks Eyeing a Share of the Cake

With the incoming South Korean President, Yoon Suk-yeol, pledging the easing of crypto regulations, the market is on a solid path to being significantly legitimized, to local media outlet The Korea Herald. Local banks in the nation intend to ride...

Why NFT adoption is so high in South Korea

South Korea’s reputation as a trend-setter and leader in technological research is quickly spilling into the blockchain realm as nonfungible token (NFT) adoption has skyrocketed in the small East Asian country.As of 2020, South Korea has been among t...

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