Tag: south korea cryptocurrency regulation

May 05 2022

Here’s How South Korea Is Preparing To Become Next Crypto Hub

South Korea is working towards a new regulatory framework for digital currencies. This is coming after Yoon Suk-yeol, the South Korean President elect, made room for Initial coin offerings (ICOs), as one of the many things it will give approval to. South Korean President Elect Yoon has big plans for Crypto The ICO approval is...

Dec 29 2021

Coinone Exchange Steps Up Verification Requirements For Withdrawals, Issues Users An Ultimatum

Beginning from January 2022, Korean-based crypto exchange Coinone has announced it would no longer permit withdrawals of tokens to unverified external wallets. Coinone Issues Ultimatum For Customers To Fall In Line With New Requirements...

South Korea: Authorities approach Apple and Google to block all P2E games

Dec 29 2021 Published at Coingape under tags  block p2e ethaud ethbkrw ethbrl ethbtc

The South Korean government has continued its efforts to secure the position as the leading crypto regulator...

Dec 23 2021

Just-In: US joins South Korea in crypto phishing scam investigation

Dec 23 2021 Published at Coingape under tags  btcbrl btcbusd btcdai btceur btcgbp

In an attempt to impose crypto regulations, the South Korean government has continued to crackdown illegal activities using crypto in the nation. They are actively working towards unveiling crypto scams to further retrieve the...

Nov 27 2021

South Korea: Crypto Legislation to Induct Virtual Currencies into System Supervision

Nov 27 2021 Published at Coingape under tags  btcbrl btcbusd btcdai btceur btcgbp

The latest update in South Korea's crypto landscape saw the South Korean financial regulatory authorities propose legislative measures on virtual currencies by inducting it under system supervision like other financial industries, such as banking and insurance. Furthermore, the authorities have defined the rights and responsibilities of crypto assets, levying "undue profits" from crypto trading via The post South Korea: Crypto Legislation to Induct...

Oct 04 2021

Oct 02 2021

South Korea: Government confirms taxation on crypto income amid crackdown

Oct 02 2021 Published at Coingape under tags  btcbrl btcbusd btcdai btceur btcgbp

The recent development in the South Korean crypto crackdown saw the government confirm the timeframe to begin crypto tax regulations in the country. The cryptocurrency taxation will be implemented on January 1 next year, which will impose a 20% tax on the profits of the transactions. While the Democratic Party of Korea continued to discuss The post South Korea: Government confirms taxation on...

Sep 30 2021

South Korea: Largest Crypto Exchange to start KYC verification Amid crackdown

Sep 30 2021 Published at Coingape under tags  btcbrl btcbusd btcdai btceur btcgbp

As South Korea’s largest exchange, Upbit gets closer to acquiring its registration certification from the Financial Intelligence Unit (FIU) under the Financial Services Commission (FSC), it has announced the imposition of a stricter verification process in lieu of the updated anti-money laundering regulations. Upbit has informed its users that trade amounting to over 1 million The post South Korea: Largest Crypto Exchange to...

Sep 29 2021

South Korea Crypto: Watchdog bans VASP from trading their native tokens

Sep 29 2021 Published at Coingape under tags  btcbrl btcbusd btcdai btceur btcgbp

The latest development in the South Korean crypto crackdown saw the South Korean Financial Services Commission (FSC) ban Virtual Asset Service Providers (VASP) and their employees from trading their platforms’ Native tokens. The government has introduced this ban using the conflict-of-interest rule, followed by proposing a revision to the Enforcement Decree of the Act on The post South Korea Crypto: Watchdog bans VASP...

Sep 14 2021

South Korea Crypto Crackdown: FSC to Crackdown on $2.6 Billion “Kimchi” Market

Sep 14 2021 Published at Coingape under tags  btcbrl btcbusd btcdai btceur btcgbp

South Korea’s Financial Services Commission (FSC) has announced a potential regulatory clampdown upon firms’ failure to meet the new compliance requirements by 24th September. The FSC highlighted that the inability to meet the mentioned deadline may cause the closure of 40 out of 60 exchanges in South Korea. “Huge investor losses are expected with trading The post South Korea Crypto Crackdown: FSC to...

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