South Korea Preparing Tax System to Avoid Cryptocurrency Tax Evasion

South Korea Preparing Tax System to Avoid Cryptocurrency Tax EvasionThe National Tax Service in South Korea is preparing to launch a virtual asset tax system to help analyze the information received from cryptocurrency holders to avoid cryptocurrency tax evasion. Local sources reported that the agency had contracted the services of a third-party company to help in this task, and it is scheduled to be […]

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US Continues Efforts to Extradite Terra Founder Do Kwon

Despite Montenegro’s High Court ruling for Do Kwon’s extradition to South Korea, the U.S. is not backing down. “The United States continues to seek Kwon’s extradition in accordance with relevant international and bilateral agreements and Montenegrin law,” the Justice Department told Bloomberg, highlighting the ongoing legal tussle over the Terra founder amidst charges linked to […]

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High Court Shifts Extradition Route for Terraform Labs’ Do Kwon to South Korea

High Court Shifts Extradition Route for Terraform Labs' Do Kwon to South KoreaIn a recent legal twist, the High Court in Podgorica has ruled in favor of extraditing Terraform Labs co-founder Do Kwon to South Korea. This decision comes after the Montenegro Appeals Court overturned a previous ruling that favored his extradition to the United States, marking a pivotal moment in the ongoing legal battle surrounding the […]

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South Korea’s Bitcoin Premium Hits 2-Year High, Surpassing Global Rates by $4K 

South Korea's Bitcoin Premium Hits 2-Year High, Surpassing Global Rates by $4K The latest data reveals that the premium on bitcoin in South Korea has escalated to its highest level in more than two years. At 7:30 a.m. Eastern Time (ET) on Thursday, the weighted global average price for bitcoin hovers between $66,800 and $67,000, whereas on the South Korean exchange Upbit, bitcoin’s price stands at $71,076 […]

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Montenegro Court Halts Extradition of Terra’s Do Kwon to the US

Montenegro Court Halts Extradition of Terra’s Do Kwon to the USIn a pivotal legal reversal, Montenegro’s Court of Appeals has annulled the extradition of Terraform Labs co-founder Do Kwon to the United States, siding with his defense’s appeal and invalidating a prior High Court ruling from Feb. 20. Montenegro’s Appeal Court Blocks Do Kwon’s U.S. Extradition, Cites Legal Flaws This latest court decision underscores the […]

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Report: Election Concerns Halt South Korea’s Crypto and ETF Regulation Ease

Report: Election Strategy Halts South Korea's Crypto and ETF Regulation EaseSouth Korea has delayed its efforts to relax its crypto regulations and the prohibition on spot bitcoin exchange-traded funds (ETFs). This development follows closely behind the People Power Party’s contemplation of removing certain regulations and the ETF ban before the commencement of South Korea’s general election. South Korea Holds Back on Crypto Regulation and Reported […]

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Bitcoin’s Swift Climb Triggers Soaring Premium in South Korea During Worldwide Rally

Bitcoin's Swift Climb Triggers Soaring Premium in South Korea During Worldwide RallyOn Wednesday, bitcoin’s value ascended past the $60K threshold, peaking at a 24-hour high of $61,389 by 10:45 a.m. (ET). Concurrently, South Korea observed a pronounced premium over the international exchange rate, with local platforms such as Upbit and Bithumb displaying prices that are $2,251 higher. In a Worldwide Bitcoin Frenzy, South Korea and 30+ […]

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Major Party in South Korea Proposes to Defer Cryptocurrency Taxation

Leading Party in South Korea Proposes to Defer Cryptocurrency TaxationThe People Power Party, a major political party in South Korea, has proposed to defer cryptocurrency taxation for up to two years as part of a general election pledge. The Korean government has already postponed establishing cryptocurrency taxation until 2025 when income generated from cryptocurrencies will be taxed at 22%. South Korea to Delay Cryptocurrency […]

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