Korean Finance Minister plans to fight moves delaying the crypto tax code
The South Korean ruling party is planning to attempt a postponement of the crypto tax laws but the Finance Minister Hong Nam-Ki is not having it and considers the delay unnecessary. Despite advances this week by the dominant Democratic Party to postpone the controversial crypto tax legislation to 2023, South Korea’s Minister of Strategy and […]
Delaying tax laws on crypto is an inevitable situation – South Korean lawmaker
Noh Woong-rae, a member of South Korea’s National Assembly and a member of the ruling party, is said to be planning to postpone a bill explaining cryptocurrency taxation until 2023. According to a Naver News report published on Thursday, Noh stated that the Democratic Party of Korea intends to fight the South Korean Ministry of […]
Majority of Korean crypto exchanges to cease operations this month
Failure to comply with South Korean regulators’ new requirements will likely result in the extinction of tens of cryptocurrency exchange operators. South Korean cryptocurrency exchanges face an impending deadline to comply with new compliance requirements, with all operators expected to submit applications for official licences to the Financial Services Commission (FSC) no later than Sept. […]
Bithumb bans foreigners without mobile KYC
In accordance with South Korea’s tighter Anti-Money Laundering legislation targeting overseas users of cryptocurrency exchanges, Bithumb has increased the stringency of its Know Your Customer (KYC) procedures. Foreigners who have not completed phone-based Know Your Customer (KYC) verification will be denied access to the South Korean cryptocurrency exchange Bithumb , according to reports. According to […]
KT Corp South Korean telecom firm adopts blockchain for carbon ambitions
KT Corp, a large South Korean telecommunications corporation, has announced a blockchain digital document initiative plan using electronic documentation service in order to contribute to environmental goals. Around 90 percent of the country’s fixed-line mobile networks , as well as 45 percent of broadband high-speed internet services, are provided by telecommunications company. The e-document project, […]