South Korea

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...

South Korea is launching a CBDC pilot project with plans to use central bank digital currencies for education and welfare vouchers. This initiative is a collaboration between the Ministry of...

Stablecoin adoption in South Korea is benefiting the financial market, with Tether (USDT) transactions leading the way. Government reports indicate that roughly 10% of domestic trade transactions now involve stablecoins....

South Korea, through its Financial Services Commission (FSC), announced that the newly formed Virtual Asset Committee will hold its first meeting on November 6. As an advisory group, the committee...

Despite Bitcoin’s surge past $70,000, interest among South Korean retail investors remained tepid. The kimchi premium, which measures the difference between Bitcoin’s price in South Korea and global exchanges, is...

Bithumb, a South Korean cryptocurrency exchange, is experiencing a hitch. The exchange announced that delays from its partner companies caused the inability to process Korean Won withdrawals. While such announcements...

South Korea will soon regulate cross-border crypto transactions, with new rules taking effect in Q2 2025. These stricter regulations, which require pre-reporting of cross-border crypto transactions, aim to prevent tax...

Lee Bok-hyun, Governor of South Korea’s Financial Supervisory Service (FSS), suggested the country may adopt a free market approach to crypto. During a parliamentary audit, the governor addressed concerns about...

Coinone, a South Korean crypto exchange, has brought in local and Canadian law firms to investigate the NFPrompt (NFP) token dispute. In March, Coinone’s NFP price plummeted 70%, while prices...

The South Korean National Assembly is reportedly planning a detailed investigation into the altcoin AVAIL over price manipulation concerns. Democratic Party of Korea lawmaker Min Byeong-deok plans to call the...