S.Korean Province Launches System to Track Crypto Tax Evaders
The Tax Justice Department of Gyeonggi province in South Korea has launched a digital monitoring system that targets cryptocurrency tax evaders, tracing their mobile phone numbers to detect their accounts on crypto exchanges. According to a February 22 Yonhap News Agency report, the Gyeonggi tax department traced “delinquents’” virtual asset exchange accounts using the resident […]
Ruling Party to Postpone Crypto tax for 2 years in South Korea
The People Power Party, the ruling party in South Korea, has initiated efforts to postpone the implementation of cryptocurrency gains tax for an additional two years as a campaign pledge in preparation for the April general election. According to the Herald Business Daily, a local news source, the political organization stated that before delving into […]
South Korea FIU To Expel ‘Unsuitable’ Crypto Exchanges in 2024
The Financial Intelligence Unit (FIU) of South Korea has announced publicly that, beginning in 2024, it will increase scrutiny over cryptocurrency exchanges and expel platforms considered “unsuitable” from the domestic market. The Korea Times reported on February 12 that the FIU additionally aims to broaden the range of screening protocols utilized in the cryptocurrency market […]
Siwon Clears His Name in Crypto Scam Allegations
Siwon, a member of the popular K-pop group Super Junior, has refuted the rumors that he was involved in a fraudulent cryptocurrency scheme by a company called Youth Pay, which is linked to the Korea Youth Committee. Siwon, a famous singer and actor who is part of the K-pop sensation Super Junior, has issued a […]
South Korea Hit by Wave of Celebrity Crypto Scandal
An alleged cryptocurrency scandal involving the promotion of a fraudulent scheme has engulfed South Korea, implicating several well-known celebrities and YouTubers. Winnerz, a South Korean blockchain sports platform that operates through various ventures, including the issuance of cryptocurrencies, has faced allegations of conducting coin fraud, as reported in the Korean Herald. Unidentified investors lodged complaints […]