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South Korea Preparing Tax System to Avoid Cryptocurrency Tax Evasion

South Korea Preparing Tax System to Avoid Cryptocurrency Tax EvasionThe National Tax Service in South Korea is preparing to launch a virtual asset tax system to help analyze the information received from cryptocurrency holders to avoid cryptocurrency tax evasion. Local sources reported that the agency had contracted the services of a third-party company to help in this task, and it is scheduled to be […]

From Code to $100K: Why Bitcoin’s Milestone Matters to Economics

Donated or Inherited Virtual Assets to Be Taxed by South Korea’s NTS

Donated or Inherited Virtual Assets to Be Taxed by South Korea’s NTSStarting in the year 2022, donated or inherited virtual assets will be assessed and taxed accordingly, South Korea’s National Tax Service has said. Dunamu, Bithumb Korea, Korbit, and Coinone are the new virtual asset service providers (VASPs) tasked with evaluating digital assets for such tax purposes. Virtual Asset Service Providers Tasked With Evaluating Crypto Gifts […]

From Code to $100K: Why Bitcoin’s Milestone Matters to Economics

South Korea’s Financial Regulator Holds Closed-Door Meeting With 20 Crypto Exchanges

South Korea’s Financial Regulator Holds Closed-Door Meeting With 20 Crypto ExchangesRegional reports disclose South Korea’s Financial Services Commission (FSC) had a closed-door meeting with roughly 20 different cryptocurrency exchanges on June 3. The report highlights that virtual asset business operators (VASPs) that attended the meeting all had ISMS (Information Security Management System) certification. South Korean Regulator Holds a Closed-Door Meeting With 20 VASPs A report […]

From Code to $100K: Why Bitcoin’s Milestone Matters to Economics