Category: South Korea

Crypto Exchange Upbit Brings In Withdrawal Delay in Bid to Tackle Fraudsters

November 27, 2020

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Nov 27, 2020 at 9:57 a.m. UTCUpdated Nov 27, 2020 at 2:30 p.m. UTC (Piotr Swat/Shutterstock) Crypto Exchange Upbit Brings In Withdrawal Delay in Bid to Tackle Fraudsters South Korea-based exchange Upbit has announced a limited cryptocurrency withdrawal delay in an effort to protect user accounts from malicious attacks. Scheduled to take effect on Nov. […]

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South Korea May Delay Implementation of 20% Crypto Tax Till 2022

November 25, 2020

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Nov 25, 2020 at 11:25 a.m. UTCUpdated Nov 25, 2020 at 2:23 p.m. UTC South Korean National Assembly building(Niyazz/Shutterstock) South Korea May Delay Implementation of 20% Crypto Tax Till 2022 South Korea’s National Assembly is pushing for a delay to the introduction of specific taxation for digital assets. According to a report Wednesday by local […]

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South Korean government to delay crypto tax rules by three months

November 25, 2020

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Following lobbying by the Korean Blockchain Association, crypto exchanges have extra time to implement a new tax infrastructure. 3983 Total views 29 Total shares The South Korean National Assembly is planning to delay the implementation of new income tax laws on cryptocurrency gains following appeals from industry bodies. According to a Nov. 25 report on […]

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Bithumb crypto exchange temporarily closes some offices due to COVID-19

November 23, 2020

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Bithumb’s offline support center in Gangnam is closing down due to COVID-19. 9232 Total views 27 Total shares Bithumb, the largest cryptocurrency exchange in South Korea, is preparing to close some of its offices due to the ongoing COVID-19 pandemic. According to an official announcement on Nov. 23, Bithumb will be temporarily suspending its offline […]

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South Korean Crypto Firms Must Disclose Users’ Identities Under Planned Law Change

November 6, 2020

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Nov 6, 2020 at 09:44 UTCUpdated Nov 6, 2020 at 15:41 UTC South Korean National Assembly building(Rillaz/Shutterstock) South Korean Crypto Firms Must Disclose Users’ Identities Under Planned Law Change South Korea’s Financial Services Commission (FSC) is seeking legal amendments that would make it mandatory for virtual asset service providers (VASPs) within the country to report […]

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Chinese Payments Giant UnionPay to Support Crypto Spending With New Virtual Card

November 4, 2020

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Nov 4, 2020 at 13:23 UTCUpdated Nov 4, 2020 at 14:09 UTC (Tung Cheung/Shutterstock) China’s UnionPay, the world’s biggest credit and debit card company, will support payments with a South Korea-developed cryptocurrency for an upcoming virtual card offering. Under a freshly inked deal, UnionPay has teamed up with Korean payments firm Danal to offer its […]

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China’s UnionPay and Korea’s Danal to launch crypto-supporting digital card

November 4, 2020

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The new card will support crypto payments using Paycoin at over 30 million UnionPay merchants. 6394 Total views 38 Total shares Major financial services corporation China UnionPay, an analog to card providers like Visa and Mastercard, has partnered with the South Korean payment provider Danal to launch a cryptocurrency-supporting digital card. Danal’s crypto wallet Paycoin […]

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Japanese messaging giant Line developing CBDC platform

October 20, 2020

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The platform would aid central banks in Asia with developing a central bank digital currency. 4785 Total views 67 Total shares Line, a Tokyo-based subsidiary of the South Korean internet search engine company Naver, is building a platform for developing central bank digital currencies, South Korean news agency the Chosun Ilbo reported on Oct. 19. […]

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