South Korea

South Korea sees a surge in crypto investments. The total number of virtual asset investors is now 15.59 million. This is over 30% of the population. Data from the Bank...

The South Korean government wants to amend its Foreign Exchange Transactions Act. The amendment would require virtual assets service providers (VASPs) involved in cross-border transactions to register under the new...

XRP is a top performer in South Korea’s crypto market, with its trading volume surpassing Bitcoin’s. This surge coincided with a spike in XRP’s price to $50.17 on a leading...

South Korea’s Digital Asset Protection Foundation is now accepting deposits from crypto service providers that have shut down. The foundation recently announced that it has received deposits from five operators:...

A South Korean court denied the appeal of the Hancom Group chairman’s son, upholding his prison sentence for creating slush funds using crypto. Specifically, the court had sentenced Kim’s son...

XRP’s price crash in South Korea highlights the crypto market’s sensitivity to political events. Last Tuesday, the president’s declaration of martial law triggered a flash crash across global markets, hitting...

South Korea’s National Assembly will likely approve significant tax law changes during its plenary session on December 10. The proposed amendments include abolishing the financial investment income tax and also...

South Korea’s Democratic Party of Korea (DPK) is moving to abolish the capital gains tax on financial investments, with a decision expected during the National Assembly’s final regular session on...

Cryptoquant CEO Ki Young Ju says South Korea is a region where every season is altcoin season. In a recent post on X, the crypto analyst showed that altcoins make...

Jeju, South Korea’s special self-governing province, has announced plans to implement digital payments for cross-border transactions. The province included the digital payments initiative in its “Jeju AI and Digital Transformation...

South Korea’s crypto market is seeing a surge as investors shifted 27 trillion won ($19.2 billion) from demand deposits in banks to higher-risk assets, including cryptocurrencies and stocks. Market observers...

South Korea’s proposed tax regime for crypto-related ventures met a bottleneck when the country’s National Assembly’s Strategy and Finance Committee failed to convene its plenary session. The legislators could not...

South Korea has signed the OECD agreement on crypto reporting among member nations. The country’s Ministry of Economy and Finance announced on November 27 that it had officially signed the...

The South Korean National Assembly postponed a plenary session originally scheduled for November 26 due to political conflicts over the proposed taxation of virtual assets. The Strategy and Finance Committee...

South Korea’s National Assembly will discuss the crypto taxation bill today, November 25, at 14:00 KST, during a session of the tax subcommittee. Representatives from both ruling and opposition parties...

Jin Sung-joon, Chairman of the Korean Democratic Party’s policy committee, has confirmed that crypto taxation will begin in January 2025. Addressing concerns about technical and practical challenges during an interview...

South Korea reaffirmed its plan to tax virtual currency gains starting January 1, 2025, after a series of delays that pushed back the policy from its original 2022 launch date....

South Korea is cracking down on those using cryptocurrencies to evade taxes as the country prepares to implement a new 20% tax on crypto gains. This move by the National...

Paju City, in South Korea’s Gyeonggi Province, has announced its first-ever plan to sell cryptocurrencies held by local tax defaulters. This marks a significant step for local governments nationwide, highlighting...

In South Korea, a significant development is brewing as the opposition Democratic Party of Korea (DPK) proposes raising the crypto tax exemption to 50 million won (approximately $35,900). The move...

South Korea’s parliament has decided to postpone its decision on crypto asset taxation with key issues like tax scope and exemptions. In the meeting held on Nov 19, the committee...

Under a new amendment to South Korea’s Virtual Asset User Protection Act, crypto exchanges can now immediately suspend transactions for legitimate reasons. South Korean regulators introduced this new provision to...

South Korea’s Financial Intelligence Unit (FIU) has uncovered numerous violations of customer verification procedures during its review of Upbit’s license renewal application. Reports indicate that the FIU found between 500,000...

South Korean authorities are investigating local cryptocurrency exchanges for potential anti-monopoly breaches, fueled by Binance’s overarching dominance in the market. Binance’s trading volume is 22 times that of all South...

On November 8, 2024, South Korea’s Financial Supervisory Service (FSS) Governor, Lee Bok-hyun, announced plans to tighten oversight of the crypto market following the U.S. election results. The regulator is...