South Korea
GTIC Partnership Advances South Korea’s Virtual Asset Oversight Initiative
The South Korean National Tax Service has developed a virtual asset management system to combat tax evasion and ensure compliance. Partnership with GTIC accelerates construction…
South Korea’s Bitcoin ‘Kimchi Premium’ Breaks 2-Year Record
South Korea's Bitcoin price premium hits 10%, signaling renewed retail investor interest. Retail dominance fuels Bitcoin liquidity surge in South Korea despite subdued institutional investment.…
South Korea Proposes to Delay Crypto Taxation for Another 2 Years
South Korea’s ruling People Power Party has proposed to postpone the taxation on crypto investment gains to 2027. The party envisions introducing a comprehensive regulatory…
Court Acquits Former Bithumb Chairman in Multimillion-dollar Fraud Case
Court acquits former Bithumb chairman of fraud charges. The decision marks the second acquittal for the executive in the last two years. Lee was previously…
South Korea Restricts Bitcoin ETF Brokerage in Local Markets: Report
South Korea warns against the domestic brokerage of the US-listed bitcoin ETFs. The country does not intend to lift the ban on exchange-traded funds or…
Enforcement Decree for Crypto Protection Act Underway in South Korea
South Korea moves to implement an enforcement decree for crypto user protection. The enforcement regulations specify that 80% of users’ crypto must be in cold…
South Korea Pension Fund Faces Backlash for $19.9M Investment in Coinbase
A prominent crypto figure has criticized South Korea's National Pension Scheme for investing in Coinbase. The critic argued the pension fund undertook such an investment…
South Korea Bans Short Selling Ahead of Upcoming Election
South Korea has banned short-selling until at least June 2024. Shares in South Korea rose Monday morning, with the country’s benchmark Kospi gaining 4%. The…
BitGlobal’s Abrupt Disappearance Underscores Crypto Market Risks
In August, the BitGlobal exchange disappeared with customer funds, leaving no trace. The incident showcases the inherent vulnerabilities and risks of the crypto industry. Traders…
South Korean Regulator Takes Aim At OTC Crypto Trading
South Korea’s customs agency recently highlighted crypto trading’s role in illegal forex transactions. The Financial Services Commission (FSC) has also taken note of OTC crypto…
