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Asian equity markets posted broad gains on Wednesday, as investors responded to de-escalation signals in the U.S.-Israel-Iran conflict that reduced immediate threats to global oil supply. Nikkei, KOSPI, Hang Seng Rise as Iran Conflict Signals Shift Japan’s Nikkei 225 led the advance, climbing approximately 2.90% to close near 53,766 — recovering from correction territory reached … Read more
South Korea’s National Tax Service (NTS) is moving to hand off seized virtual assets to private custody providers after a recent security lapse exposed the risks of doing it in-house. Korea Tax Authority Fast-Tracks Crypto Custody Selection The agency is reportedly working to select a qualified custody firm within the first half of the year, … Read more
This week saw the artificial intelligence (AI) industry rocked by a potential Microsoft-OpenAI legal dispute over a $50 billion Amazon cloud partnership, Nvidia announcing $1 trillion in chip orders at its GTC developer conference, and new federal warnings that surging AI data center demand is destabilizing the U.S. power grid. Microsoft Eyes Legal Action Microsoft … Read more
South Korean lawmakers are once again tearing up the script on crypto taxation, this time with a proposal to scrap the levy altogether before it ever sees daylight. South Korea Crypto Policy Shift Could Remove Tax Burden Entirely According to the regional news publication Digital Asset, South Korea’s opposition party has introduced legislation to fully … Read more
The Bank of Korea has launched Phase 2 of its Project Hangang central bank digital currency pilot, expanding real-world testing of the digital won with broader banking participation and new programmable payment features. Korea Explores CBDC- Stablecoin Hybrid Model in Project Hangang Expansion The March 18 announcement marks a renewed push by the Bank of … Read more
South Korea’s Hana Financial Group has signed a strategic partnership with Standard Chartered Group to collaborate on global banking operations and emerging digital asset businesses, including stablecoins. Hana Financial–Standard Chartered MOU Targets Stablecoins, Custody and Global Markets According to the Korea Herald and several other local reports, the memorandum of understanding (MOU) was signed March … Read more
South Korean regulators have imposed a roughly $25 million fine and a six-month partial business suspension on crypto exchange Bithumb after finding millions of anti-money-laundering and identity-verification violations. Bithumb Sanctioned by South Korean FIU Over Identity Verification Failures Reports note that South Korea’s Financial Intelligence Unit (FIU), operating under the Financial Services Commission, finalized sanctions … Read more
With bitcoin trading between $65,962 and $73,669 this week, market data shows South Korea posted its deepest discount to global prices since December 2024. Rare Bitcoin Discount Hits South Korea — Only Three Such Events Since 2022 Bitcoin is trading at a discount in South Korea, as metrics collected at 7 p.m. EST Tuesday show … Read more
South Korea’s Kospi index plummeted over 12% on March 4, triggering emergency circuit breakers as Middle East tensions and artificial intelligence (AI) growth concerns sparked a historic sell-off. Circuit Breaker Activated South Korea’s stock market endured one of its worst trading days in decades on March 4 as the benchmark Kospi index plunged more than … Read more
South Korea’s National Tax Service (NTS) accidentally published a cryptocurrency wallet’s recovery phrase in a Feb. 26 press release, enabling the temporary transfer of roughly $4.8 million in seized tokens before the assets were returned hours later. NTS Press Release Leak Leads to $4.8M Token Transfer in Seoul South Korea’s NTS disclosed a cryptocurrency wallet’s … Read more