South Korean Prime Minister nominee to look into controversial crypto tax law
South Korea’s crypto tax law continues to face significant opposition from cryptocurrency proponents in the county. Go to Source Powered by WPeMatico
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ConsenSys to develop private version of Kakao’s Klaytn blockchain
A private version of Klaytn is in being developed in order to take part in South Korea’s CBDC pilot, to be launched later this year. Go to Source Powered by WPeMatico
Tax Authority Seizes Cryptocurrencies Worth $25 Million From Hundreds of Crypto Investors in South Korea
The tax department of the Seoul metropolitan government in South Korea has reportedly seized cryptocurrencies worth about $25 million from hundreds of crypto investors with delinquent taxes. The cryptocurrencies, including bitcoin, were seized from three exchanges. The tax authority is now going after hundreds more taxpayers who are delinquent on paying their taxes. Crypto Seizure … Read more
Asia-Pacific’s solarized digitalization agenda in pandemic times
Amid the COVID-19 pandemic, the role of digitalization has become central to achieving sustainability and lessening climate change. Go to Source Powered by WPeMatico
Former Employees From Major South Korean Firms Quit Their Jobs After Pocketing Millions in Crypto Profits
South Korea’s crypto-sphere has been witnessing a volatile environment in terms of regulatory moves, as bitcoin prices and other altcoins are also having wild moves. Such a scenario hasn’t stopped the country’s middle class to profit from the crypto market, even with very successful stories. One of the Interviewees Risked His Life Savings in Cryptos … Read more
Seoul government seizes $22M worth of crypto from tax evaders
The City of Seoul becomes the first city in South Korea to confiscate cryptocurrencies owned by tax delinquents. Go to Source Powered by WPeMatico
South Korean Government Seeks to Regulate International Remittances Related to Crypto ‘Kimchi Premium’
The famous gap in cryptocurrency prices in South Korean crypto exchanges and overseas ones known as “kimchi premium” raises some concerns among the nation’s government. The latest reports suggest that the country is planning to regulate international remittances tied to kimchi premium-driven transactions. Remittances to Exploit Kimchi Premium Could Be Flagged as Money Laundering According … Read more
Crypto Fraud Reports in South Korea Surged Over 41% in 2020, Says Financial Watchdog
Although bitcoin prices plummeted over the weekend, the overall bull-run remains alive, as well as the crypto-related fraud cases in South Korea. The latest figures by the domestic financial watchdog show that such incidents are still on the rise. Police to Dedicate a Special Unit to Investigate Crypto Frauds According to Asia Kyungjae, the Financial … Read more
South Korea plans interagency crackdown on illegal crypto transactions
South Korea’s top financial regulator established dedicated crypto investigation teams across the country last week. Go to Source Powered by WPeMatico
South Korean City Threatens to Seize Cryptos From Tax Evaders
Crypto tax evasion is becoming a hot potato for the authorities in some Asian countries, such as Japan and South Korea. A South Korean city is now actively fighting against tax evaders who are suspiciously reporting meager earnings in their filings. 511 Individuals in the Authorities’ Eyes According to Gugkje News, the authorities of Gyeongju, … Read more