South Korea Prepares To Become The Next Crypto Hub
South Korea is working on a new digital currency regulatory framework. This follows after South Korean President-elect Yoon Suk-yeol included Initial Coin Offerings (ICOs) as one of the many things the country will be approving. President-elect Yoon has big plans for cryptocurrency in South Korea The approval of the ICO is one of the 110 […]
South Korea’s New President Delays Crypto Taxes For Consumer Protection Legislation
South Korea’s newly elected president is demonstrating his crypto expertise by declaring that there will be no tax on crypto investment gains until legislation can ensure consumer protections. Yoon Seok-yeol, South Korea’s newly elected president, announced on Tuesday that he will push to postpone taxation on crypto investment gains at least until a new set […]
Just In: South Korean Crypto Exec Detained For Leaking Military Secrets To North
A crypto exchange operator and a South Korean army captain have been apprehended on suspicion of transmitting military secrets to North Korea. According to many sources, the CEO of a cryptocurrency exchange has been arrested in South Korea for allegedly passing military secrets to North Korea. According to AFP, the CEO is one of two […]
South Korean Crypto Exchanges To Comply With New Travel Rules
Compliance with the laws puts South Korea ahead of the curve in terms of virtual asset regulation, but it may be damaging the domestic industry by imposing excessive transfer restrictions between crypto exchanges. South Korean crypto exchanges have met the government’s deadline to comply with the so-called Travel Rule, but not everyone in the business […]
NFTs Will Not Be Regulated in South Korea — FSC
Nonfungible tokens (NFTs) are not classified as virtual assets by the Financial Services Commission (FSC) of South Korea, and hence will not be regulated. \ Following an assessment of the Financial Action Task Force’s new standards, the FSC decided not to regulate NFTs (FATF). According to the FATF’s Oct. 28 advice report, NFTs or other […]