A 20 percent tax would be imposed on earnings exceeding 2.5 million won. Taxing virtual assets has been postponed until 2023. Bitcoin’s momentum has been stifled since its all-time high of $67.5k. Many analysts’ predictions of Bitcoin reaching $100k by the end of the month turned out to be a
In political history, raising elections funds in digital assets and distributing non-fungible tokens (NFTs) for all the supporters is an innovative idea planned in South Korea. For the upcoming presidential election, the nominated candidate Lee Jae-Myung is campaigning about his unique initiative to his supporters. Through this, all the woo
Gyeonggi province had captured 6.1 billion won in cryptocurrencies. The regulators have organized an investigation of 29,656 companies. The frozen food company CEO had 600 million won in cryptocurrency. Gyeonggi Province is one of the most populous provinces in South Korea. In last week Gyeonggi province has announced that it
South Korea FSC has set a deadline for over 60 crypto exchanges. Crypto exchanges need to partner with south Korean local banks Only four exchanges have registered and partnered with a local bank. South Korea Financial Services Commission (FSC) has announced a deadline for more than 60 foreign and local
South Korea is one of the major countries where the majority of people are involved in the cryptocurrency industry. Many countries around the world are working hard to regulate and reform the crypto space. South Korea announced its regulations on 578 cryptocurrencies last month. Overall, many country regulators are conducting
South Korea is moving forward with its regulatory investigation of unregistered digital currency exchanges. Thus as of late, asking foreign virtual-resource service providers to enlist with them to avoid close down. Financial Services Commission (FSC), some time ago known as Financial Supervisory Commission. It was expressed in April of this
The Kentucky Fried Chicken (KFC) needs no further introduction as it is one of the world’s largest fast-food chains operating all over the world. In spite of all its fame and successful business all over the world, KFC looks forth to increase its already flourishing marketplace of South Korea even
South Korea is debating four crypto-related bills for cryptocurrency regulation. The regulators are into the research process of analyzing 578 cryptocurrencies in various methods, according to the Chairman. The Financial Services Commission (FSC), the country’s top financial regulator, is also planning to regulate the crypto industry. Chairman Eun Sung-soo stated
All the major countries all over the world are completely submerged into regulations and reforms in their cryptocurrency industry. This contagion has not spared South Korea too. Most cryptocurrency exchanges are facing tremendous hardships in order to cope up with the regulations. Gyeonggi-do’s Seizures Gyeonggi-do is South Korea’s largest and
Bithumb, the largest cryptocurrency exchange in South Korea, was reportedly raided for the third time, by Seoul Metropolitan Police Agency’s Intelligent Crime Investigation Unit. Police reportedly seized a number of shares in Bithumb Holdings. Despite this, the holdings belongs to Bithumb Korea Director Kim Byung-Geon. In contrast, the seizure action
