News
South Korea’s FSS advises fund managers to limit ETF exposure to crypto firms like Coinbase, citing caution as regulatory rules are still evolving.
2218
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.
- News
After nearly a year of legal proceedings, a South Korean court acquitted former Wemade CEO Jang Hyun-guk of market manipulation charges.
12535 - News
Metaplanet CEO joins a consortium investing in South Korea’s SGA to push corporate Bitcoin adoption across Asia through M&A and digital asset treasury strategies.
3043 - News
South Korea may lift restrictions on crypto firms, allowing them venture status and access to tax breaks, funding and regulatory benefits.
7802 - News
Shares of Kakao Bank, Kookmin Bank and the Industrial Bank of Korea rose by 10% to 19% following stablecoin trademark applications.
3811 - Analysis
Bitcoin adoption grew considerably in June, with 26 firms adding it to their balance sheets; meanwhile, Bitcoin’s hashrate fell 15%.
2591 - News
The Bank of Korea reportedly suspended its central bank digital currency trials as participating banks are tempted by the government’s promise to allow stablecoins.
11927 - News
More than 25% of South Koreans aged 20 to 50 now hold crypto, and 70% plan to increase their investments as digital assets become a key part of retirement planning.
6212 - Newsletter
Corporations race to build Bitcoin treasuries as stablecoins gain momentum and landmark regulations take shape worldwide.
3792 - News
Eight major banks in South Korea are working on a stablecoin backed by the won, aiming to protect the currency from the growing US dollar dominance.
3938 - News
Bank of Korea governor Ryoo Sangdai reportedly said that banks should be the first to issue stablecoins, and they should do so slowly.
8329 - News
Parataxis will launch a Bitcoin-native treasury platform in South Korea via Bridge Bio, aiming to expand institutional access to BTC despite regulatory barriers.
15305 - News
A local expert says a growing share of South Korea’s youth is turning to cryptocurrency not out of belief in its technology, but as a last resort amid economic woes.
4946 - News
The head of South Korea’s central bank reportedly said he isn't against the issuance of a won-pegged stablecoin, but was wary of possible foreign exchange issues.
6061 - News
South Korea’s newly elected president Lee Jae-myung reportedly promised to reduce crypto trading transaction costs as part of his presidential campaign.
21133