The central Bank of Korea (BOK) is changing its stance on the blanket ban of domestic initial coin offerings (ICO) after having instituted it in 2017. The BOK has called for the issuance of ICOs, sign...
Tag: Korea
South Korea To Impose “Gift Tax” On Crypto Airdrops ⋆ ZyCrypto
Advertisement     South Korea is looking to impose a new sort of tax on cryptocurrencies. The East Asian country has remained on the news within the crypto space of la...
Bank of Korea calls for institutional issuance of crypto ICOs, signaling an end to bans
The Bank of Korea (BOK) has signaled a change in its stance regarding the domestic issuance of new cryptocurrencies through initial coin offerings (ICO) after years of banning the initiative. In this...
Ex Korea finance minister joins research organization to promote blockchain
A top government official in South Korea, Kim Yong-beom, has joined a research organ of blockchain VC Hashed. Yong-beom is a prominent figure in South Korea during his tenure as the Vice Minister of t...
Binance signs agreement with Busan, South Korea to develop blockchain infrastructure
Global cryptocurrency exchange Binance has signed an agreement with the city of Busan, South Korea to help develop the city’s blockchain infrastructure and support its efforts to boost crypto ad...
Samsung Securities To Launch A Crypto Exchange In South Korea Next Year
Samsung is considering the launch of a crypto exchange in South Korea. The firm’s investment arm is trying to launch an exchange a second time after stopping its initial plans due to a lack of key tal...
Crypto accounts for most foreign exchange violations in South Korea
Financial crimes using cryptocurrencies are on the rise in South Korea. About 75% of violations of the country’s Foreign Exchange Transactions Act so far this year involved crypto, according to a repo...
South Korea Will Shut Down 16 Unlicensed Foreign Cryptocurrency Exchanges – crypto.news
The Financial Intelligence Unit (FIU) has informed law enforcement agencies of 16 overseas virtual currency enterprises accused of breaking the Specific Financial Information Act by conducting undiscl...
Samsung Slates Crypto Exchange Launch in South Korea for 2023: Report
Samsung’s investment arm is eyeing the launch of its own cryptocurrency platform, South Korean media reported on Monday. Samsung Securities is one of seven domestic brokerages looking to start operati...
Binance Enters South Korea To Push Adoption, But There’s A Catch
The world’s largest crypto exchange Binance’s expansion into South Korea is largely awaited by the community. While the expansion is yet not clear, Binance has signed an MOU with the South Korean city...
Korea Blockchain Week 2022 Wraps Up With Immense Optimism for the Future of Crypto
[PRESS RELEASE – Please Read Disclaimer] Over 8,700 attendees flocked to Asia’s biggest crypto conference in Seoul to gain insights into the future of Web3, DeFi, Metaverse, and more Seoul, South Kore...
South Korea to impose tax on virtual airdrops
South Korea Ministry of Strategy and Finance has made a new revelation about virtual Airdrops. The Ministry disclosed that Airdrops might also attract gift tax. This development manifested when attend...
Samsung All Set to Launch Bitcoin and Crypto Exchange in South Korea in 2023
The recent development of conventional firms thinking big in the crypto industry complies with the president’s smoothening down of regulations and mandates. In a Twitter post on the 22nd of August, Bi...
South Korea to Introduce 10%-50% Gift Tax on Crypto Airdrops
The Ministry of Strategy and Finance of South Korea announced on Monday that hard-forked tokens, staking rewards, and crypto airdrops will be subject to gift tax under the country’s Inheritance ...
Samsung Securities Plans To Open Crypto Exchange in South Korea
16 seconds ago | 2 mins read Exchange News Only two of the seven companies were uncovered by the research. Mirae Asset Securities has launched a new division under its sister firm. From rapidly sketch...
South Korea to Impose 10-50% Gift Tax on Crypto Airdrops
The Ministry of Strategy and Finance of South Korea has announced that crypto airdrops, staking rewards and hard-forked tokens will be subject to gift tax under the nation’s Inheritance and Gift Tax A...
North Korea Lashes Out at U.S. After It’s Called a Criminal Organization Seeking to Steal Crypto
North Korea isn’t too happy that it’s been called out by the United States for its repeated roles in cyberattacks designed to make off with stolen digital currency funds. The country is home to severa...
South Korea to Apply Gift Tax to Crypto Airdrops
South Korea has imposed a tax on cryptocurrency airdrops received by citizens. According to local reports, anyone who benefits from a crypto airdrop in South Korea is required to pay a specific amount...
South Korea: Crypto-airdrops might soon be subject to Gift Tax
According to a report by South Korean news agency Yonhap News, virtual asset transfers for free are subject to gift tax. This, as per the guidance of the Ministry of Strategy & Finance in the coun...
South Korea Levies Significant Gift Tax on Crypto Air Drops
16 mins ago | 2 mins read Bitcoin News Free transfer of assets is considered a “gift” under the Inheritance and Gift Tax Act. In South Korea, a gift tax must be paid on any asset with a monetary value...
South Korea mulls gift tax on airdrops, staking rewards, and hard-forked tokens
Despite postponing crypto gains tax to 2025, the South Korean Ministry of Strategy and Finance has today declared that virtual asset airdrops, hard forked tokens, and staking rewards will be subject t...
South Korea may levy up to 50% ‘gift tax’ on crypto airdrops under current law
South Korean officials have interpreted existing laws to mean crypto airdrops may be subject to “gift tax,” according to local media outlet Yonhap News Agency (YNA). Officials at the Ministry of Strat...
S. Korea mulls ‘gift tax’ for airdrops
The South Korean Ministry of Strategy and Finance on Monday cleared that virtual asset airdrops, staking rewards and hard forked tokens would be subject to a gift tax under the Inheritance and Gift Ta...
South Korea to Impose 10–50% Gift Tax on Crypto Airdrops
The South Korean government will impose a gift tax on crypto airdrops, with the tax rate ranging from 10 to 50%. Regulators will examine the airdrops on a case-by-case basis. South Korea’s government ...
South Korea Cracks Down on Numerous Exchanges Over Regulations
The organization has identified 16 service providers. Local exchanges’ offices were raided last month as part of an inquiry. More than a dozen cryptocurrency exchanges risk losing clients in South Kor...
Joo Won Shares The Major Transformations He Made For Netflix’s ‘Carter’
Joo Won films a motorcycle scene for ‘Carter.’ Son Ik-chung/Netflix In Netflix’s Carter, the ever-popular Joo Won undergoes a formidable transition from a clean-cut poster boy into a steel...
South Korea to Investigate KuCoin Alongside 15 Crypto Exchanges for Unreported Operations
The South Korean Financial Services Commission (FSC) has put some cryptocurrency exchanges up for investigation under the claim that the concerned exchange companies are operating unlawfully in the co...
16 Crypto Platforms Face Suspension in South Korea Amid Crackdown
The Korea Financial Intelligence Unit (KoFIU) said that it has alerted the investigating authority about the illegal business activities of 16 unregistered Virtual Asset Service Providers (VASPs) oper...
16 Crypto Platforms Including KuCoin Serving Illegally in South Korea: Regulator
The Korea Financial Intelligence Unit (KoFIU), a top financial regulator in South Korea, on Thursday urged its local consumers using overseas cryptocurrency exchanges to verify whether such platforms ...