New South Korean leadership will press for BTC ETF trading
The Democratic Party of Korea promised to allow Bitcoin exchange-traded funds and it expects to follow through, one way or another. Go to Source
South Korea
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South Korea stops short of allowing crypto in updated donation laws
Department store gift vouchers, stocks, and loyalty points from tech giants can be donated to charities, but not crypto. Go to Source
South Korean ministries look to upgrade status of crypto crime unit
The temporary unit is reportedly being transformed into a permanent department as enforcement actions rise dramatically in South Korea. Go to Source
South Korea’s Democratic Party to Introduce ETF and Digital Finance Reforms
South Korea’s Democratic Party of Korea (DPK) is eager to relax regulations on exchange-traded funds (ETFs), including those tied to spot bitcoin, despite resistance from the People Power Party (PPP). Although election concerns have temporarily halted the initiative, a crucial poll is set for April 10, and the parliament is predominantly controlled by the DPK-led … Read more
South Korea’s Crypto Market Continues to Defy Global Trends With Premium Prices
Metrics reveal that cryptocurrency premiums in South Korea consistently outpace the global average. As of now, bitcoin exchanges hands at $69,245 per piece globally, while on the South Korean platform Upbit, it’s being traded at $73,513 each. Additionally, March witnessed a notable increase in Upbit’s trade volume, skyrocketing by 172.25% from February’s data. Ethereum, Solana, … Read more
Ex-Terraform Labs CEO Do Kwon’s Extradition Case Reset
In the latest Montenegro Supreme State Prosecutor’s Office’s announcement, the legal proceedings concerning the extradition of Terraform Labs’ former CEO, Do Kwon, will revert to the first trial court. On April 3, 2024, a confidential meeting and vote resulted in the annulment of earlier judgments made by both the Podgorica Higher Court and the Court … Read more
Crypto.com Expands Into South Korean Crypto Market
Cryptocurrency trading platform Crypto.com is entering the South Korean crypto market with its app launch. “We spent significant time and resources tailoring our offering for this market and are honored to be the first and largest global cryptocurrency exchange to launch in South Korea,” said an executive of the crypto firm. ‘The First Product We … Read more
Do Kwon Out of Jail, Under House Arrest Pending Extradition Decision
Multiple sources have reported that Do Kwon, the ex-chief executive officer of Terraform Labs, was set free from jail on Saturday while the high court in Montenegro decides on two separate extradition requests submitted by South Korea and the United States. Terraform Labs’ Former CEO Do Kwon Freed According to various sources, Do Kwon has … Read more
South Korea Preparing Tax System to Avoid Cryptocurrency Tax Evasion
The 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 … Read more
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 … Read more
