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South Korea’s tax administration has pledged to take strict measures against tax evasion through virtual assets and platforms. While the Korean government is yet to start taxing capital gains resulting from crypto investment and trading, authorities in Seoul claim cryptocurrencies have been actively used for money laundering. Korean Citizens Accused of Investing in Crypto Assets … Read more
Regional 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 … Read more
Bithumb, a major crypto exchange in South Korea, has taken the country’s tax authority to court over a “groundless” tax imposed on the exchange. Experts explain that currently there are no grounds to tax crypto transactions in South Korea and existing tax laws do not apply to crypto transactions. Also read: Regulatory Roundup: EU-Wide Crypto … Read more
The National Tax Service of South Korea (NTS) has decided to withhold income tax from Bithumb’s foreign customers. The total tax to be imposed on their transactions amounts to more than 80 billion won (over $69 million), the leading Korean cryptocurrency exchange announced. Also read: Poles Hit With Backdated Tax on Crypto Trades Bithumb to … Read more
There have been some concerns regarding the Bithumb exchange over the past few weeks. An official investigation was launched by South Korean officials regarding the firm potentially engaging in tax evasion. It now appears the company has been cleared of all charges, which means business will carry on as usual for the foreseeable future. Bithumb … Read more
• Nauticus to give away as much as 41 percent of the team’s coins to charity • Additional referral bonuses can either be kept by users or donated • Nauticus will match the amount of user coins donated It’s been a wild two weeks for Melbourne fintech company Nauticus, which is launching a new crypto … Read more
