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South Korea’s Act on the Protection of Virtual Asset Users went into effect on July 19, 2024, aiming to protect users and ensure market stability. Initially revised in 2021 to mandate virtual asset service providers (VASPs) to register and adhere to anti-money laundering regulations, it became evident that further measures were necessary to combat unfair … Read more
The ruling party of South Korea is, once again, considering the postponement of the enactment of crypto-specific taxes, as this could influence public opinion towards the government. The party aims to implement these taxation rules by 2028, citing a lack of necessary regulations and institutional infrastructure as the primary reasons for this measure. South Korea … Read more
If the new proposal is approved, implementing the crypto gains tax in the country will be delayed by nearly seven years from its original schedule. Go to Source
Binance is preparing to reduce its 72.6% stake in the Gopax exchange to as low as 10%, according to local sources. Go to Source
South Korea’s Financial Supervisory Service (FSS) will introduce a continuous monitoring system on July 19 to track suspicious cryptocurrency transactions. Developed with local digital asset exchanges, this system aligns with the country’s Virtual Asset User Protection Act, which aims to regulate trade practices and protect investors. Major Korean crypto exchanges, including Upbit, Bithumb, Coinone, Korbit, … Read more
Crypto exchanges subject to a new South Korean law have implemented a system allowing authorities to receive reports on suspicious transactions. Go to Source
The investment comes after a March commitment to spend $90 billion on a chip fabrication facility near Seoul. Go to Source
Hashed Ventures said it’s in talks with other South Korean crypto firms to help bring them to Abu Dhabi. Go to Source
The details of enforcing the Protection of Virtual Asset Users Act are not contained in the bill, which comes into force July 19. Go to Source
According to a market report from Allied Research, the South Korean pop music industry will be valued at $20 billion by 2031. Go to Source
