Major South Korean Crypto Exchange Bithumb Launches R&D Center
Bithumb, a major South Korean crypto exchange, is launching its own R&D center for cryptocurrencies and blockchain technology Go to Source Powered by WPeMatico
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South Korean Presidential Committee Recommends Allowing Bitcoin Derivatives
The South Korean Presidential Committee on the Fourth Industrial Revolution has reportedly recommended the government to allow the development of crypto derivatives Go to Source Powered by WPeMatico
South Korea Drafting Legislation To Tax Individual Crypto Profits
South Korea is working on legislation to tax crypto profits Go to Source Powered by WPeMatico
Government Confirms Crypto Profits Not Taxable in South Korea
South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and the approaches of major countries to crypto taxation in an effort to amend the existing Korean tax law to include cryptocurrency. Also read: Regulatory Roundup … Read more
South Korea Imposes $69M Tax Obligation on Crypto Exchange Bithumb
The National Tax Service of South Korea (NTS) has decided to withhold income tax from Bithumb’s foreign customers. The total tax to be imposed on their transactions amounts to more than 80 billion won (over $69 million), the leading Korean cryptocurrency exchange announced. Also read: Poles Hit With Backdated Tax on Crypto Trades Bithumb to … Read more
Bithumb Crypto Exchange Reportedly Considers Litigating $68.9M Tax Bill
South Korean cryptocurrency exchange considers litigation after the local tax authority imposed a $68.9 million tax bill on it Go to Source Powered by WPeMatico
Asia’s Love Affair With Blockchain Is Blossoming
Far away from western eyes, Asian blockchain projects are thriving. A vibrant ecosystem of public and permissioned chains has sprung to life in Asia, aided by government and big business endorsement of distributed ledger technology (DLT). Many of these chains are virtually unknown outside of the region, yet enjoy high profile partnerships and endorsements in … Read more
South Korea Forms Task Force for Central Bank Digital Currency Research
The Bank of Korea will organize a task force dedicated to central bank digital currency research in 2020 Go to Source Powered by WPeMatico
Largest South Korean Telecom Company Issues Blockchain-Based Local Currency in Busan
Busan, South Korea’s second-largest city in cooperation with telecom giant KT plans to release a blockchain-based local currency by Dec. 30. Go to Source Powered by WPeMatico
South Korean Co-Working Space Operator SparkPlus Turns to Blockchain
Seoul-based SparkPlus plans to open co-working centers in properties listed on the blockchain funding platform Kasa Korea Go to Source Powered by WPeMatico