South Korea

South Korea plans to apply a 20% tax on crypto gains starting in January 2025.   The Democratic Party proposes increasing tax exemption to $35,900 for…

South Korea’s NTS finds that cryptocurrencies are used for tax evasion and dodging tax liabilities. The NTS filed a lawsuit against an individual who illegally…

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’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 delays decision on virtual asset taxation after a tax subcommittee meeting.   Key issues include tax deferrals, reporting obligations, and exemption amounts.   Ruling and…

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 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 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’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 is launching a pilot project to utilize CBDCs for education and welfare vouchers. The Ministry of Science and ICT, FSC, and the Bank…