south korean
South Korean Bank, KB Kookmin, Shares Blockchain Strategy
KB Kookmin, a major South Korean bank, is planning to adopt blockchain technology into its internal processes.
South Korean Police Raid Bithumb Crypto Exchange Headquarters On Fraud Allegations
South Korean Police have raided the headquarters of Bithumb cryptocurrency exchange as part of an investigation into fraud.
South Korean Tax Specialists Advocate for Lowered Crypto Taxation
Members of the Korean Tax Policy Association are calling on the government to consider applying a low-level tax on crypto transactions. The South Korean administration is contemplating taxing cryptocurrencies as part of its tax reform plan for 2021, but specialists feel it requires in-depth conceptualization.
South Korean Court Apprehends Crypto Assets of “Nth Room” Ringleader
A South Korean court has frozen 15 cryptocurrency wallets belonging to Cho Ju-bin, the orchestrator of the “Nth Rooms” scandal. It came to the limelight following a national outcry following the sexual exploitation of underage girls by Cho Ju-bin and his team who was named and paraded through the Korean streets to face the public in March.
South Korean Police Raid Bithumb Crypto Exchange For Second Time in BXA Token Fraud Case
Bithumb, the largest crypto exchange in Korea has been raided for a second time in five days by the South Korean police.
South Korean Advocates for Institutionalization of Cryptocurrencies via Bitcoin Derivatives
A South Korean commission dubbed the 4th Industrial Revolution Commission has proposed that the government ought to permit financial institutions to establish cryptocurrency-based products, such as Bitcoin derivatives as they will be instrumental in the long-term institutionalization of cryptocurrencies.
South Korean Hospitals to Usher in New Healthcare Era Using Blockchain Technology, AI and Big Data
South Korean hospitals intend to set the ball rolling in ushering in a new healthcare era using industry 4.0 technology like blockchain, artificial intelligence (AI), and big data.
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 Is Looking to Put Trade Finance on the Blockchain
The South Korean government wants all trade to be on the blockchain, Coindesk reports.
South Korean Shared Workspace Company Turns to a Blockchain-Powered Real Estate Platform
Sparkplus, a South Korean office sharing company, has announced a partnership with tech startup Kasa Korea for a blockchain-enabled real estate funding platform. Through the strategic collaboration, Sparkplus seeks to revolutionize Seoul’s sharing economy through a decentralized network that would enable people without much money to collectively and indirectly fund real estate.
Analyst Honored for Exposing South Korean Dark Web Crypto Child Pornography and Blackmail Site
Criminal analyst, Kim Reece, has been named as a finalist for the Samuel J. Heyman Service to America Medal for her role in the takedown of the South Korean ‘Nth Room’ child pornography chat rooms hosting the content of Welcome to Video blackmail sex and exploitation site.
South Korea Contemplates Imposing 20% Tax on Cryptocurrency Proceeds
The South Korean administration might consider categorizing proceeds from cryptocurrency transactions as other income that is subjected to 20% tax, such as prize-winning or lottery.
ApeCoin Experiences Sharp Price Surge on South Korean Exchange
Yuga Labs' ERC-20 token ApeCoin (APE) experienced a brief surge in price on the South Korean cryptocurrency exchange Upbit, with prices reaching $90.00 per token before a sell-off reduced most of the gains. The spike was attributed to retail frenzy and trading restrictions on the exchange.
Seoul Prosecutors Reveal Terra's Do Kwon is Hiding in Europe
South Korean prosecutors believe Do Kwon is currently residing in Europe
Binance's Market Dominance Challenged as OKX and Upbit Gain Ground
The 2023 CEX Market Report shows Binance's dominance diminishing as OKX and Upbit gain market share. Factors like on-chain data, user growth, and social media presence contribute to the evolving CEX landscape.
Terraform Labs CEO Sent $7 Billion to Law Firm Before Ecosystem Collapse
South Korean prosecutors confirmed that Terraform Labs CEO Do Kwon sent $7 billion to a top South Korean law firm, Kim & Chang, right before the collapse of the Terra ecosystem. The prosecutors believe that Kwon's decision to send the funds was a deliberate move that allegedly reaffirmed his awareness of the impending collapse and anticipated legal problems. The information is expected to help in the ongoing fraud case against Kwon and his associates.
South Korean Crypto Exchange Fraudsters Sentenced
Six V Global crypto-exchange scam executives received eight-year jail sentences in South Korea. V Global reportedly duped 50,000 investors of $1.5 billion (2 trillion won) in a Ponzi-like scheme. Three executives have not been jailed since they claim innocent and can defend themselves in court.
South Korean Court Clears Former Terraform Labs CEO of Security Violations
A South Korean court dismissed charges of security violations against former Terraform Labs CEO Hyun-seong Shin, ruling that LUNA is not a security under the country's Capital Markets Act. The court rejected the prosecution's appeal for confiscation of Shin's properties and arrest, and stated that Luna is not a financial investment product regulated by the act. However, the prosecution has appealed to the Supreme Court against the verdict of the lower district court.
South Korean Crypto Exchanges Reveal 'Compensation Reserve Funds'; Upbit Leads with KRW 20 Billion
The disclosure of 'Compensation Reserve Funds' by South Korean crypto exchanges, led by Upbit with KRW 20 billion, reflects the country's broader regulatory strides aimed at ensuring user protection, transaction transparency, and market discipline. This move aligns with the new regulatory framework set to be implemented in 2024, spotlighting the government's agenda to foster a robust infrastructure for digital assets, with the reserve fund mandate forming a cornerstone of this initiative.