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The CEO of the South Korean cryptocurrency exchange Bithumb has made some predictions regarding the upcoming new rules governing the national industry. In fact, the executive believes there will only be between four and seven exchanges surviving the new regulation. Smaller Companies Unlikely to Meet New Banking, Anti-Money Laundering Protocols on Time During an interview … Read more
The South Korean arm of global crypto giant Huobi has acquired an ISMS certification to comply with the upcoming Special Payment Act. Go to Source Powered by WPeMatico
A South Korean court has sentenced the former CEO of the defunct crypto exchange Coinnest to 18 months in prison. The court also fined him over $61,000, who also was charged for fraud in 2020. Prosecutors Accused Coinnest Executives of Receiving 110 BTC in Bribes According to Fn News, the Supreme Court of Korea determined … Read more
Jeju Island and blockchain company Iconloop are proceeding with a full rollout of their COVID-19 contact tracing app following successful pilots. Go to Source Powered by WPeMatico
South Korea’s Shinhan Bank has invested in a crypto custody service backed by local crypto exchange Korbit. Go to Source Powered by WPeMatico
Reports last week had claimed that Nexon was poised to acquire the exchange at an evaluated price of roughly $460 million. Go to Source Powered by WPeMatico
A major commercial bank in South Korea is entering the crypto business by allocating an equity investment in the Korea Digital Asset Trust (KDAC). Shinhan Bank is looking to offer digital asset custody services. Bank Expects to Offer Tech Capabilities to Face Defi-Related Hacking Risks According to inews24, the bank announced the investment in the … Read more
The South Korean government has issued an amendment to introduce tax on cryptocurrency trading profits. The plan is now a reality after several attempts to delay it by lawmakers. New Rules Impose 20% Tax on Crypto Profits Per Asia Today, the legislative notice details that the amendment will be enacted in February, and profits from … Read more
Nexon, the South Korean multi-billion-dollar gaming conglomerate, is reportedly planning to buy a 65% stake in troubled crypto exchange Bithumb in a deal worth about 500 billion won ($460 million). ● According to local media reports, Nexon is to buy all the shares owned by Bithumb chairman Lee Jung Hoon, including several others totaling up … Read more
After several delays, the South Korean government is going ahead with a plan to tax cryptocurrency holders. Go to Source Powered by WPeMatico
