South Korean City Threatens to Seize Cryptos From Tax Evaders

April 15, 2021 Bitcoin.com

Asia

Crypto tax evasion is becoming a hot potato for the authorities in some Asian countries, such as Japan and South Korea. A South Korean city is now actively fighting against tax evaders who are suspiciously reporting meager earnings in their filings. 511 Individuals in the Authorities’ Eyes According to Gugkje News, the authorities of Gyeongju, […]

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Former South Korean Social Media Giant in Talks ‘With Major Gaming Companies’ to Implement Its Crypto

April 15, 2021 Bitcoin.com

Asia

A former South Korean social media giant is still keeping alive its promise to relaunch its business with the help of the cryptocurrency industry. A local media outlet reported that Cyworld is in talks with “major gaming companies” that involve crypto-related ventures. Company Also Plans to Launch Its Mainnet to Compete With Kakao According to […]

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South Korean Government Announces Crackdown on Illicit Crypto-Related Transactions in an ‘Overheated Market’

April 10, 2021 Bitcoin.com

bitcoin.com

Adding to the South Korean cryptocurrency industry’s stricter regulations, the central government is focusing on the “crackdown” of illegal crypto transactions. A meeting over the week held with high-ranked politicians resulted in a campaign that will soon be deployed. Government Seeks International Help to Monitor International Crypto Exchanges According to Chosun, the South Korean Government […]

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Study Finds South Koreans Aged 20-39 Mainly Invest up to $100 in Cryptocurrencies

March 31, 2021 Bitcoin.com

Study Finds South Koreans Aged 20-39 Mainly Invest up to 0 in Cryptocurrencies

Altcoins

South Korea’s “crypto boom” is a term that the local media has widely adopted to refer to the current hype seen across the Asian nation. In fact, a recent study unveiled a rising trend in the number of South Koreans making small-scale crypto investments. New Crypto Investors Seem Unafraid of Strict Regulations According to the […]

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Major South Korean Bank BNK Busan Plans to Offer Banking Services to Domestic Crypto Exchanges

March 26, 2021 Bitcoin.com

Asia

The South Korean crypto frenzy among the banking industry remains on fire, as another major bank is treading waters to offer banking services for crypto exchanges. The BNK Busan Bank launched a program that consists of visiting competitors’ banks that already offer it. BNK Busan Is Visting Its Competitors to Conduct the Research According to […]

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South Koreans Are Required to Pay Taxes for Crypto Holdings in Overseas Exchanges, Authorities Warn

March 20, 2021 Bitcoin.com

Asia

South Korean tax authorities are unstoppable in keeping crypto holders in their eyes and making them accountable to pay taxes. The National Tax Service (NTS) has issued a warning to the crypto traders that they have to report their earnings even from tokens held in foreign exchanges. No Details on How the Agency Will Supervise […]

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