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 […]
Wemade Faces Probe Over Crypto Fraud Allegations
Wemade, a South Korean Web3 game developer, is under investigation by local prosecutors for allegedly violating the rules for virtual asset service providers and issuing fraudulent tokens. Wemade, a South Korean Web3 game developer, is currently facing a probe by the Seoul Southern District Prosecutor’s Office’s first financial investigation department. According to a local media […]