Sun, November 24

Fresh Investigation Into Terra (LUNA) Launched by South Korea

The prosecutors are looking into the collapse of LUNA (now LUNC) and UST (now USTC). The judgement by prosecutors would aid legislators in the next crypto legislation. Prosecutors in South Korea have initiated a fresh probe and evaluation of Terra tokens to determine whether or not they qualify as securities.

September 13, 2022 2 mins read

South Korea Reportedly Planning To Remove Crypto ICO Ban

The government of the nation had outlawed ICOs in the crypto sector.  The BOK emphasized the need for industry oversight. To achieve a balance between promoting innovation and guaranteeing proper consumer protection measures, South Korea is actively examining its regulatory movements in the crypto market. The government of the nation

August 30, 2022 2 mins read

South Korea Levies Significant Gift Tax on Crypto Air Drops

Free transfer of assets is considered a “gift” under the Inheritance and Gift Tax Act. In South Korea, a gift tax must be paid on any asset with a monetary value. A new gift tax on airdrops for crypto assets is reportedly being considered by the Ministry of Strategy and

August 22, 2022 2 mins read

South Korea Cracks Down on Numerous Exchanges Over Regulations

The organization has identified 16 service providers. Local exchanges’ offices were raided last month as part of an inquiry. More than a dozen cryptocurrency exchanges risk losing clients in South Korea as officials crack down on international companies they allege are operating illegally in the country. According to a news

August 19, 2022 2 mins read

South Korea Marks a Significant Regulatory Milestone For Crypto.com

Virtual asset service provider will enable Crypto.com to offer custody and exchange services for digital assets. Crypto.com has more than 50 million users. The world’s fastest-growing cryptocurrency platform, Crypto.com announced today that it has acquired an Electronic Financial Transaction Act and Virtual Asset Service Provider registration in South Korea. By

August 8, 2022 2 mins read

Do Kwon Is Obliged To Enter South Korea: Country’s Prosecutors Commands

South Korea’s Ministry of Justice banned the officials of Terra from leaving the country. Do Kwon is issued notice to enter the country, who now lives in Singapore. The fall of UST initiated the bearish rally of the crypto market.  Following the Crashdown of Terra(LUNA), the entire market dipped down

July 27, 2022 2 mins read

Crypto Exchanges Raided in Connection With Terra Investigation

Exchanges, including Upbit, Bithumb, and Coinone, were the targets of raids. Around 200,000 South Korean investors are thought to have invested in TerraUSD and Luna. Shocking revelations from South Korea have been pouring in after the fall of Terra-Luna. On Wednesday, Korean prosecutors raided seven cryptocurrency exchanges to see whether

July 22, 2022 2 mins read

Korean Fintech Announces $380 Million Investment in Web3 Initiatives

10,000 new web3 jobs will be created as part of the company’s $380 million investment. According to the notification, local university graduates would be given precedence. Dunamu, an asset management, and fintech company plans to invest $380 million to generate over 10,000 new web3 jobs. Dunamu is a well-known South

July 13, 2022 1 min read

South Korea and U.S. Officials Collaborate to Investigate Terra Collapse

Several regulatory authorities from across the globe launched official investigations. Know Your Customer and Anti-Money Laundering rules are demanded. Several charges were brought against Terraform Labs and its co-founder, Do Kwon, after the collapse of the Terra ecosystem in May. As a result of the scandal, several regulatory authorities from

July 6, 2022 2 mins read

Terra Founder Do Kwon Facing Investigation on Tax Fraudulent

The Do Kwon fraudulent investigation began. Kwon was discovered to have stolen revenue by avoiding 50 billion won ($39 million) in taxes. Do Kwon is being investigated for tax fraud by the Seoul Southern District Prosecutor’s Office’s Joint Financial and Securities Crime Investigation Team. The National Tax Service discovered that

June 16, 2022 1 min read