News
Lawyers for Terraform Labs co-founder Do Kwon have mounted a final attempt to appeal his extradition from Montenegro.
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South Korea News
South Korea, officially the Republic of Korea, is a country in East Asia. The country is home to almost 52 million people and uses the South Korean won as its currency. Its capital city, Seoul, is geographically located in the nation’s upper region. Thanks in part to its bustling capital and the nation’s landscape, South Korea’s economy benefits from various factors, including high technological advancement. South Korea borders North Korea, also known as the Democratic People’s Republic of Korea.
South Korea has stringent crypto regulations focused on preventing illegal activities and ensuring transparency. Cryptocurrencies like Bitcoin (BTC) are regulated under precise Anti-Money Laundering and securities regulations enforced by the Financial Securities Commission (FSC) of South Korea.
Reporting guidelines for crypto service providers, including centralized and decentralized exchanges, are fundamental in South Korea. The regulatory framework is influenced by the government’s evolving policy stance on crypto assets. When sold, cryptocurrencies held as investments are subject to a 20% capital gains tax for individuals and 22% for corporations. Additionally, cryptocurrencies used for payments may incur a 10% value-added tax in South Korea.
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The central banks of Italy and South Korea announced a memorandum of understanding in the development and deployment of CBDCs.
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Financial regulators in South Korea have opened a window of time for people to come forward and report any unlicensed cryptocurrency exchanges operating in the country.
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Dunamu reported a net profit of $23 million in the third quarter of 2023, a steep drop compared to the $123 million it earned in Q3 2022.
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Participants will be restricted to using the CBDC only for payment, without an option to store, exchange or send it to other users.
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Elizabeth Warren continues pressing for tighter regulation, and Vivek Ramaswamy promises to defend crypto from the government’s overreach if elected.
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South Korea’s National Pension Service, one of the world’s largest pension funds, invested $20 million in Coinbase in Q3 of 2023.
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The disclosure will be a part of the party’s effort to show the “high moral standards” of its candidates.
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South Korean crypto exchange Bithumb hasn’t confirmed the planned IPO but told local media it recently selected an underwriter.
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The South Korean telecommunications giant aims to expand its “affiliations with customer-preferred mainnets and decentralized applications” using this tripartite agreement with the blockchain companies.
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Major social platforms, AI companies, governments and NGOs issued a joint statement pledging to combat AI-generated abusive content, such as explicit images of children.
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Daniel Shin claimed he and Do Kwon parted ways before the collapse of the Terra/Luna ecosystem was imminent and that he had nothing to do with it.
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The price of the SUI token plummeted after allegations of supply manipulation from regulatory officials in South Korea.
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The Virtual Asset Users Protection Act was passed in June without a sufficient regulatory framework, the head of South Korea’s Financial Supervisory Service said.
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The figure is more than double recorded in the first half of 2022 and a massive 1,800% increase from the same period in 2020, according to Dunamu.
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