SOUTH KOREA
South Korea, officially known as the Republic of Korea, is located on the Korean Peninsula in East Asia. It is known for its advanced technology, bustling cities like Seoul, rich cultural heritage, and a robust economy driven by industries such as electronics, automotive, and shipbuilding. The country is a democratic republic with a president as head of state. South Korea's education system is highly competitive, and its cuisine, like kimchi and bulgogi, has global recognition. The country also has a strong entertainment industry, known for K-pop and Korean drama. The demilitarized zone (DMZ) separating South Korea from North Korea remains a significant geopolitical focus.
South Korean Watchdog Uncovers 14 Fake Bank Accounts Used by Crypto Exchanges
The South Korea financial regulator has uncovered 14 fake accounts used by crypto exchanges.
Woori Financial Group To Provide Cryptocurrency Custody Services
South Korean Woori Financial Group has announced that it will establish a digital asset custody joint venture with Korean blockchain developing company Coinplug.
South Korea Top Four Crypto Exchanges Launch Joint Venture To Abide By AML Regulations
The heads of Bithumb, Korbit, Coinone, and Upbit signed a memorandum to form a company with a system, which will enable them to adhere to anti-money laundering regulations.
South Korea Authorities Seize $47M in Crypto from Tax Evaders
South Korean authorities have made the largest crypto seizures in the country's history. $47 million in digital currencies have been confiscated.
Solana and ROK Capital launched a $20 Million Fund to Promote the Ecosystem Expansion in South Korea
The Solana Foundation has cooperated with ROK Capital to jointly launch a $20 million fund, aiming to further expand Solana's blockchain ecosystem in South Korea.
South Korea will Impose a 20% Tax on Capital Gains from Cryptocurrencies Next Year
The South Korean administration is not relenting on its quest to levy a 20% income tax on capital gains from crypto transactions in 2022 despite growing investor concerns for the taxation plan to be delayed.
South Korea Seeks Tech Partner to Build the Pilot Program for CBDC
South Korea's central bank on Monday said it would choose a technology supplier to build a pilot platform for a digital currency, moving a step closer to creating a central bank-backed digital currency.
One in Four South Korean College Students Has Invested in Cryptocurrencies
A study shows 23.6% of South Korean college students are investing in cryptocurrencies.
South Korea's Banking Association Cautions Against Growing Altcoin Influence
The Korea Federation of Banks wants its members to keep track of altcoins that trade on crypto exchanges.
Korea's Financial Services Commission Officials Mandated to Declare their Crypto Holdings
Korea's Financial Services Commission employees are to report their digital currency holdings by May 7, as there have been concerns about insider information.
South Korea’s Financial Watchdog to Stamp Out Illegal Crypto Activities
South Korea’s financial watchdog, the Financial Supervisory Service and the Finance Ministry, has teamed up with various financial authorities to crack down on illegal crypto activities.
South Korea to Introduce Blockchain-Powered COVID-19 “Vaccine Passports”
In order to revive cross-border travel and keep infection risks under control, the South Korean government seeks to issue blockchain-backed COVID-19 “vaccine passports” to immunized citizens.
OKEx to Shut Down Its Crypto Business Operations in South Korea by April
OKEX intends to shut down its crypto branch in South Korea. According to sources familiar with the talks, the move is attributed to new anti-money laundering regulations in the country.
South Korean Investors Making more than $2,260 from Crypto to be Slapped with a 20% Tax in 2022
The South Korean Ministry of Economy and Finance has announced that investors making at least 2.5 million won, or approximately US$2,260 from crypto trading, will be subjected to a 20% tax from 2022.
South Korea Plans to Postpone Cryptocurrency Tax Rule to January 2022
South Korea is planning to delay the implementation of its crypto income tax rules to January 2022, extending it from its previous time frame of October 2021.