Category: South Korea

South Korea fast tracks 20% tax on Bitcoin and crypto profits to 2022

February 22, 2021

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After much back and forth, South Korea appears to have finally set a hard date for the dawn of cryptocurrency taxation. 6882 Total views 38 Total shares South Korea will implement a 20% tax on Bitcoin (BTC) and cryptocurrency profits starting Jan. 1, 2022. The nation’s Ministry of Economy and Finance announced that profits made […]

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Bank of Korea: CBDCs Are Fiat Currency Not Virtual Assets

February 8, 2021

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Some legal changes would be needed before a potential central bank digital currency launch in South Korea, research indicates. Feb 8, 2021 at 3:13 p.m. UTC Bank of Korea: CBDCs Are Fiat Currency Not Virtual Assets The Bank of Korea (BOK) has published the results of research it conducted last year on the legal issues […]

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Bank of Korea publishes book on central bank digital currency’s legal issues

February 8, 2021

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South Korea’s central bank has issue a book on legal matters that would need to be addressed to ensure the smooth operations and usefulness of a future central bank digital currency. 5618 Total views 33 Total shares Last fall, the Bank of Korea announced it would be testing the distribution of a central bank digital currency […]

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South Korea’s Dunamu Launches Bitcoin ‘Fear and Greed’ Index to Guide Traders

January 19, 2021

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The tool is aimed at helpi traders make better decisions based on market sentiment. Jan 19, 2021 at 10:30 a.m. UTCUpdated Jan 19, 2021 at 3:16 p.m. UTC South Korea’s Dunamu Launches Bitcoin ‘Fear and Greed’ Index to Guide Traders South Korean fintech firm Dunamu, operator of cryptocurrency exchange Upbit, has developed a digital assets […]

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Huobi Korea scores certification from Korea Internet and Security Agency

January 18, 2021

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The South Korean arm of global crypto giant Huobi has acquired an ISMS certification to comply with the upcoming Special Payment Act. 4914 Total views 19 Total shares Huobi Korea, the South Korean arm of the world’s second-largest cryptocurrency exchange by trading volume, has been certified by a major regulator. According to an announcement on Jan. […]

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K-Pop Sensation Mamamoo to Mint Digital Collectibles on Polkadot

January 16, 2021

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The popular K-Pop girl band’s parent company RBW will be selling its singers’ digital products on the blockchain. Solar, Wheein, Moonbyul and Hwasa of Mamamoo perform during the K-Pop Night Out SXSW showcase at The Belmont on March 16, 2016 in Austin, Texas. (Daniel Boczarski/Redferns/Getty Images) Jan 16, 2021 at 12:00 a.m. UTCUpdated Jan 16, […]

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Korea’s Shinhan Bank makes strategic investment in crypto custody consortium

January 11, 2021

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South Korea’s Shinhan Bank has invested in a crypto custody service backed by local crypto exchange Korbit. 2103 Total views 20 Total shares Shinhan Bank, the oldest banking institution in South Korea, continues its efforts to introduce digital-asset custody services with a new investment. According to a Thursday report by news agency Yonhap, Shinhan Bank has […]

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South Korea to introduce a 20% tax on crypto trading profits in 2023

January 7, 2021

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After several delays, the South Korean government is going ahead with a plan to tax cryptocurrency holders. 13662 Total views 17 Total shares The South Korean government issued an amendment on Wednesday to introduce a tax on profits from cryptocurrency trading. Following a legislative notice lasting until Jan. 21, the amendment is likely to be […]

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South Korea’s 20% Crypto Tax Now Coming in 2023: Report

January 7, 2021

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Jan 7, 2021 at 12:17 p.m. UTCUpdated Jan 7, 2021 at 2:49 p.m. UTC South Korean National Assembly building(Niyazz/Shutterstock) South Korea’s 20% Crypto Tax Now Coming in 2023: Report South Korea’s government will start taxing cryptocurrency gains over a year later than originally planned. The nation’s Ministry of Economy and Finance said Wednesday it has […]

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First Mover: Bitcoin Hits Record as ‘Blue Wave’ and ‘Kimchi Premium’ Look Bullish

January 6, 2021

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Jan 6, 2021 at 2:32 p.m. UTCUpdated Jan 6, 2021 at 2:58 p.m. UTC Bitcoin prices rose above $35,000 for the first time, reaching a new all-time high. (Pixabay, modified by CoinDesk) First Mover: Bitcoin Hits Record as ‘Blue Wave’ and ‘Kimchi Premium’ Look Bullish Bitcoin (BTC) rose for a second day, surging to a […]

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