Tag: south korea

Sep 23 2022

South Korean Authorities Seized $184 Million In Crypto Against Unpaid Taxes

Despite the South Korean Government's deep interest in metaverse and web 3 technology, the country implements aggressive policies when it comes to regulations and taxation. As reported by local news outlet Yonhap News on Thursday, the South Korean Tax Authority has seized 260 billion won ($184.3 million) in crypto belonging to tax evaders. However,...

Sep 22 2022

Over $7.2B in Crypto Exchange Transacted Since June

According to the study, most of the Crypto Exchange transfers were made in U.S. dollars, and the majority of the money went to Hong Kong. According to South Korea's banking authority, there have been $7.2 billion in "abnormal" foreign Crypto Exchange transfers since June, the majority of which were made through cryptocurrency exchanges, according to […] The post...

South Korea Prosecutors Raid Bank For Crypto-Related Illegal FX Transactions

Sep 22 2022 Published at Coingape under tags  news south korea terra

South Korea's Prosecutors conducted a "search and seizure" in Woori Bank's headquarters for investigating crypto-related illegal foreign exchange transactions. South Korea's Financial Intelligence Unit (FIU) is investigating commercial banks for $3.4 billion in illegal crypto-related transactions. Terra founder Do Kwon is also under investigation for money laundering in South Korea......

Sep 15 2022

Do Kwon’s Passport Revoked

Sep 15 2022 Published at Crypto Briefing under tags  do kwon news south korea terra

South Korean authorities reportedly intend to revoke the passports of Terra leader Do Kwon and other employees. Terra Employees Face Justice Efforts to apprehend Do Kwon are intensifying. Yesterday, it...

Terra Co-Founder’s Passport To Be Invalidated By South Korea

Sep 15 2022 Published at Coinscreed under tags  news passport south korea terra

On Wednesday, arrest warrants were sent out for the CEO of Terra and five other people. The prosecutors also asked for their passports to be invalidated — except for Nicholas Platias, another Terraform Labs founder, who is not a Korean national. Local media said on Thursday that South Korea's Ministry of Foreign Affairs is trying […] The post...

Terra Co-Founder’s Passport To Be Invalidated By South Korea

Sep 15 2022 Published at Coinscreed under tags  news passport south korea terra

On Wednesday, arrest warrants were sent out for the CEO of Terra and five other people. The prosecutors also asked for their passports to be invalidated — except for Nicholas Platias, another Terraform Labs founder, who is not a Korean national. Local media said on Thursday that South Korea's Ministry of Foreign Affairs is trying […] The post...

Sep 14 2022

Terra Plummets as Do Kwon Faces Arrest in South Korea

Sep 14 2022 Published at Crypto Briefing under tags  do kwon people south korea terra

According to the prosecutors office, all six wanted individuals from Terraform Labs currently reside in Singapore. Manhunt Begins for Do Kwon The law is finally catching up with Do Kwon....

LUNA sinks 20% after South Korea issues arrest warrant for Do Kwon

Sep 14 2022 Published at CryptoSlate under tags  do kwon legal people south korea terra

Terra's LUNA declined 20% on the news that South Korea has issued an arrest warrant for its founder Do Kwon. #PeckShieldAlert...

Sep 13 2022

Breaking: South Korean Prosecutors Starts New Investigation Into Terra (LUNA)

Sep 13 2022 Published at Coingape under tags  altcoin news news south korea terra

South Korean prosecutors' team has started a new investigation and review on Terra tokens to categorize them under securities. TerraForm Labs, its founder Do Kwon, and other affiliates will also be charged with violating the Capital Market Act if Terra tokens LUNA, LUNC, and UST (now USTC) are found to... Read more

Aug 31 2022

Busan City declares partnership with FTX to create local exchange

Aug 31 2022 Published at Coinscreed under tags  busan ftx news south korea

The "Blockchain" city of Busan in South Korea keeps forging alliances to promote the development of the cryptocurrency sector. The second-largest city in South Korea, Busan, has declared a partnership with cryptocurrency trading platform FTX in order to establish a local cryptocurrency exchange and promote blockchain innovation. According to a formal announcement made on August […] The post...

Aug 29 2022

Breaking: S.Korea To Lift ICO Ban

South Korea is actively reviewing its regulatory moves in the cryptocurrency industry, as it seeks to strike a balance between fostering innovation and ensuring adequate consumer protection measures. The...

Aug 26 2022

South Korea Says 75% Of Illicit Forex Transactions In The Country Are Crypto-Related

Aug 26 2022 Published at Bitcoinist.com under tags  biitcoin bitcoin btcusd crypto crypto news

A significant number of cryptocurrency holders reside in South Korea. As the bitcoin sector becomes more mainstream, the rate of cryptocurrency acceptance in the East Asian nation has increased dramatically. Recent research, however, suggests that some of these crypto transactions may be used for unlawful operations. Bloomberg reported that the majority of unlawful foreign currency transactions in South Korea this year involved cryptocurrencies....

Just-In: Binance Enters South Korea To Push Adoption, But There’s A Catch

Aug 26 2022 Published at Coingape under tags  binance news south korea

The world's largest crypto exchange Binance's expansion into...

Aug 25 2022

75% Of Illegal Forex transactions in South Korea are Crypto-Related

Aug 25 2022 Published at Coinscreed under tags  crypto forex news south korea

According to a Bloomberg study, the adoption rate of cryptocurrencies in South Korea is on the rise and some of these cryptocurrency transactions might support illicit business. According to Bloomberg, the majority of illicit foreign exchange transactions in South Korea this year have been tied to cryptocurrencies. Additionally, the data indicates that they have so […] The post...

Breaking: South Korea Says 75% Of Illegal FX Transactions Are Crypto-Related

South Korea is home to a considerable amount of cryptocurrency owners. The East Asian...

Upbit To Prohibit Transactions To 16 Foreign-Based Crypto Exchanges

Upbit will work with the FSC to crack down on unregistered crypto platforms per the latest update from the giant exchange.,

Crypto Contributes 75% To Illegal Foreign Exchange Transactions In This Country

Aug 25 2022 Published at Coingape under tags  cryptocurrency news south korea

South Korea has become a leading crypto market in the last two years, with crypto...

Aug 23 2022

South Korea Considers a Gift Tax on Crypto Airdrops

Due to a lack of legal framework and investor protection safeguards, South Korea has repeatedly delayed the implementation of its cryptocurrency Gift Tax. Despite the suspension of the cryptocurrency gains fee until 2025, the South Korean Ministry of Strategy and Finance said on Monday that hard forked tokens, staking incentives, and airdrops of virtual assets […] The post...

Aug 22 2022

Samsung Working on South Korean Crypto Exchange

Aug 22 2022 Published at Crypto Briefing under tags  news south korea

Samsung's securities company and other traditional brokerages plan to launch a crypto exchange next year. Samsung, Others Pursue Crypto Exchange Samsung and several others could launch a crypto exchange. According...

South Korea Mulls 10-50% Crypto Tax On Token Airdrops

Airdrop receivers could pay a 10-50% crypto tax on their free tokens.

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