Bithumb Wins 130M Won Corporate Tax Lawsuit
The Seoul High Court Administration Department recently absolved Bithumb of a massive 130 million won corporate tax charge. The Seoul High Court Administration Department 1-3 has recently ruled in favor of the South Korean crypto exchange, Bithumb, regarding an appeal to eliminate specific tax charges. Presided over by Judges Lee Seung-han, Shim Jun-bo, and Kim […]
World’s 3rd Largest Pension Fund Buys $34M in MicroStrategy Shares
South Korea’s National Pension Service, the world’s third-largest public pension fund, purchased $34 million worth of MicroStrategy shares. The third-largest public pension fund in the world has recently acquired roughly $34 million in shares of MicroStrategy, a business intelligence firm that purchases Bitcoin. According to a filing with the United States Securities and Exchange Commission […]
South Korea Enacts Virtual Asset Protection Law
The new Virtual Asset User Protection Act in South Korea strengthens previous regulations by requiring VASPs to register and comply with anti-money laundering standards. This law, the Virtual Asset User Protection Act, expands upon the regulations that were implemented in March 2021. These regulations mandated that virtual asset service providers (VASPs) register with financial authorities […]
South Korea’s Crypto Crackdown To Delay Global Market Recovery
As South Korean regulators limit crypto trading and pressure exchanges to monitor unusual activities, crypto market recovery may be delayed. The South Korean regulatory crackdown on cryptocurrency has put major pressure on crypto trading and exchanges, increasing traders’ uncertainties. However, the action comes as South Korean officials work to improve regulations under the new digital […]
Fantom Triumphs as Court Reverses Lower Court Ruling
The Seoul High Court rules in favor of the Fantom Foundation against SikSin and CEO Byung-Ik Ahn, dismissing all claims and overturning previous ruling. The Seoul High Court’s Civil Division 19-3 has rendered a significant legal victory for the Fantom Foundation in its lawsuit against the Korean food technology startup SikSin and its CEO, Byung-Ik […]