Bank of Korea wants to monitor crypto trading activity, cites monetary risks
South Korea’s central bank is the latest entity seeking powers to monitor crypto trading activity in the country. Go to Source Powered by WPeMatico
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South Korean Banking Association Concerned Over Surge of the Altcoin Trading Frenzy
A banking association in South Korea recently added weight to regulatory discussions across the country, raising concerns about the high altcoin trading volume. The Korea Federation of Banks (KFB) requested its members to audit trading volumes through their crypto exchanges’ customers’ altcoin activity. Altcoins Trading Volume Outperformed Bitcoin Last Weekend in South Korea According to … Read more
South Koreans flock to crypto amid a heavy-handed regulation approach
With crypto demand skyrocketing in South Korea, the government is looking to regulate digital assets and the local market is feeling the pressure. Go to Source Powered by WPeMatico
South Korea’s banking association alarmed by altcoin trading mania
South Korea’s banking body wants crypto exchanges to be wary of the risks of being overexposed to altcoins. Go to Source Powered by WPeMatico
South Korea to Crack Down on Phishing Websites Attacking Crypto Users
South Korean authorities are intensifying their monitoring of phishing activity related to cryptocurrencies. The government has identified a record number of websites trying to obtain login details from crypto exchange users. Over 30 sites have been taken down in just three months this year. Seoul Strengthens Monitoring of Crypto Phishing Scams Rising market prices have … Read more
South Korean Police Officers Banned From Buying Cryptocurrency
A recent ban imposed by the South Korean National Police Agency will bar particular officers from purchasing additional cryptocurrencies. The announcement coincides with a report revealing a heightened domestic availability of digital coins, in comparison to the global marketplace. South Korea to Penalize National Police Agency Officers Who Fail to Disclose Crypto Holdings Officers with … Read more
South Korea to Impose a 20% Tax on Crypto Mining Activities
The cryptocurrency industry in South Korea keeps facing regulatory challenges, and it seems that dust is far from settling. Now, crypto miners will be required to pay taxes, following the same path as digital assets traders. Ruling to Take Place Starting 2022 According to a report published by Donga, miners should be accountable for paying … Read more
Digital Currency Group backs South Korean crypto exchange operator
Streami, the company behind the popular GOPAX exchange, has received direct funding from Digital Currency Group. Go to Source Powered by WPeMatico
South Korean Bitcoin miners can deduct electricity costs from crypto tax filings
Crypto miners will be able to deduct electricity costs as business expenses when filing cryptocurrency taxes starting in 2022. Go to Source Powered by WPeMatico
South Korean regulators tell banks to open the books on cryptocurrency exchanges
Authorities are looking to tighten their grip on the cryptocurrency industry. Go to Source Powered by WPeMatico