South Korea

CoinFlash

South Korean Government Proposes Tough New 22% Tax on Crypto Trading

Crypto trading profits could be liable to a 22% tax should the Korean National Assembly approve the newly tabled proposal.

News  ·  22 July 2020
Blockchain

South Korean Government Turns to Blockchain Tech to More Securely Store Clinical Diabetes Data

The government has asked startup Sendsquare to develop a proof-of-concept blockchain registry to help analyze, anonymize and store clinical diabetes data.

News  ·  29 June 2020
South Korea

South Korean Soccer League Tokenizes Players for Fantasy Football Game

A new licensing agreement between the South Korean soccer league and Sorare will bring on over 400 K League players on to the fantasy soccer platform.

News  ·  18 June 2020
Hacking

North Korean Hackers Ramp Up Efforts to Steal Crypto Amid Coronavirus Pandemic

Notorious hacking group Lazarus is said to be increasing its efforts to steal cryptocurrency from traders and industry professionals during the COVID-19 crisis.

News  ·  11 May 2020
CBDCs

South Korean Central Bank Accelerates Digital Currency Pilot to Keep Up With Other Nations

The Bank of Korea has historically been skeptical about CBDCs, but now it's having to keep up.

Policy & regulation  ·  6 April 2020
Crime

Alleged Mastermind of Sex Abuse Chatrooms Hid Payments With Privacy Coin Monero

The 25-year-old used the cryptocurrency monero to obfuscate payments for abusive sexual material, according to a CoinDesk Korea investigation.

Policy & regulation  ·  26 March 2020
FATF

Bithumb Taps Chainalysis for FATF-Grade Crypto Investigation Tool

The Bithumb exchange is tapping investigative tools offered by Chainalysis just a week after South Korea voted for tough new laws around the space.

News  ·  10 March 2020
FATF

South Korean Lawmakers Greenlight Strict Crypto AML Bill

South Korean lawmakers voted to place tough new requirements on cryptocurrency exchanges, adding legitimacy to the country’s sprawling crypto economy – and potentially triggering a market consolidation.

Policy & regulation  ·  5 March 2020
Bitcoin Mining

Why Bitcoin Mining Might Be the New Business Model for US Power Plants

South Korea gets legal recognition for crypto, New York power plant mines BTC and the end of the intranet era for enterprise blockchain?

People  ·  5 March 2020
ICOs

Korean ICO Project Shuts Down, Says ‘Negative Perceptions’ of Crypto Made Business Impossible

Contents Protocol will refund approximately $7.5 million worth of ether back to investors.

Business  ·  19 February 2020
Regulation

South Korea Considers 20% Crypto Income Tax

Officials from the Ministry of Economy and Finance's income tax office have reportedly been reviewing the proposal.

Policy & regulation  ·  20 January 2020
Exchanges

Bithumb Exchange Fighting Back Against ‘Groundless’ $69M Tax Bill

The South Korea-based exchange is fighting a move by the country's tax authority to withhold over $69 million in tax on foreign cryptocurrency transactions.

Policy & regulation  ·  16 January 2020
Exchanges

Binance to Launch Korean Support Center Following Investment in Local Startup

Binance has made its first direct investment in a South Korean startup as part of a deal to launch a support center in the country.

Business  ·  14 January 2020
Crime

Popular Korean Crypto YouTuber Badly Beaten After Threats From Angry Investors

A South Korean crypto YouTuber has been assaulted at his home, soon after threats to his company's staff from investors.

News  ·  10 January 2020
Exchanges

South Korean Presidential Committee Wants to Bring Crypto Into Mainstream Finance

Financial institutions should be allowed to launch cryptocurrency products, such as derivatives, according to a government advisory body.

Policy & regulation  ·  6 January 2020