South Korea
South Korean City Seizes and Sells Crypto for Unpaid Taxes
Paju City in South Korea will sell cryptocurrencies seized from local tax defaulters. The seized assets, valued at around ₩50 million ($37,000), will be liquidated…
South Korea Debates Raising Crypto Tax Exemption to $35,900
South Korea’s DPK has proposed raising crypto tax exemption levels. The opposition party proposed raising the exemption to $35,900. Currently, the crypto tax exemptions stand…
South Korea’s Crypto Tax Decision Postponed, Uncertainty Looms
South Korea delays decision on virtual asset taxation after a tax subcommittee meeting. Key issues include tax deferrals, reporting obligations, and exemption amounts. Ruling and…
South Korea’s Crypto Exchanges Gain Power to Freeze Transactions
South Korean crypto exchanges can now suspend transactions promptly without prior notice. The new amendment to the Virtual Asset User Protection Act aims to confront…
Upbit Faces Regulatory Hurdles in South Korea Over KYC
Upbit faces scrutiny as FIU finds 500,000-600,000 KYC compliance issues in license review. FIU inspections reveal potential fines up to 100 million won per KYC…
Binance’s Dominance in South Korea Sparks Anti-Monopoly Concerns
Binance has 22 times the volume of all Korean crypto exchanges combined. The price of BTC hit an all-time high on Korean exchanges at 120…
South Korea Ramps Up Crypto Oversight After US Election-Driven Volatility
South Korea’s FSC has decided to strengthen scrutiny over the crypto market. The move intends to confront the market’s increasing volatility following the US election.…
South Korea Pilots CBDC as Crypto Reshapes Job Market
South Korea is launching a pilot project to utilize CBDCs for education and welfare vouchers. The Ministry of Science and ICT, FSC, and the Bank…
Stablecoins Take Over South Korea’s Trade Sector Driven by Tether on Tron
Stablecoin use rises in Korea, with 10% of trade using USDT, mainly on Tron’s network. Tron overtakes Ethereum for USDT since 2021, driven by lower…
South Korea’s Virtual Asset Committee to Tackle Corporate Crypto Investment
South Korea’s Virtual Asset Committee will have its first meeting on November 6. The committee will focus on the second phase of the country’s virtual…
