South Korea

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Crypto Still Tax Free in Korea but Regulators Have Set Timeframe for Taxation

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Cryptocurrency transactions are still tax-free in South Korea due to a lack of tax regulations. As the law stands, citizens are able to profit millions of won from cryptocurrencies without being required to pay taxes on them. However, the regulators have set a tentative timeframe for the introduction of the crypto tax law. Also read: Japan’s … Read more

Huobi Officially Launches in South Korea with 100 Cryptocurrencies

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Huobi has officially launched in South Korea. The platform facilitates the trading of 100 cryptocurrencies and 208 markets. The exchange is also creating an investor protection fund and program to immediately compensate for any losses that are not investor error. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Huobi Korea Launched Huobi … Read more

South Korean Millennials Excited About Crypto, New Survey Shows

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South Koreans in their 20s and 30s are excited about cryptocurrencies and are eager to invest. This is according to a study carried out by the Bank of Korea, the country’s central bank. The survey was released on Tuesday and showed general support for digital currencies in the East Asian nation despite recent drastic declines in … Read more

Hacked Cryptocurrency Exchange Youbit Re-Emerges Amid Insurance Controversy

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Cryptocurrency exchange Youbit has reportedly re-emerged after a series of hacks and a bankruptcy filing, amid an insurance claim controversy and civil lawsuits. The exchange continues to operate after it was sold and renamed, local media reported. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Insurance Claim Denied DB Insurance, one of … Read more

Bithumb and Korea Pay Services Partner to Promote Retail Use of Crypto

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Bithumb has announced a new partnership with Korea Pay Services in a move meant to promote the use of cryptocurrencies for payments in retail outlets. The partnership will give Bithumb users the ability to use cryptocurrencies to make payments at offline stores. OVER 6,000 STORES TO BENEFIT Korea Pay Services is a mobile payment processor that processes … Read more

South Korean Exchange Paying Users to Report Illegal Crypto Schemes

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The Kakao-backed cryptocurrency exchange Upbit has launched a system to reward users for identifying fraudulent multi-level schemes related to cryptocurrencies. The exchange has already identified and reported 20 such schemes to the police. Also read: Japan’s DMM Bitcoin Exchange Opens for Business With 7 Cryptocurrencies Reporting Illegal Schemes South Korea’s largest cryptocurrency exchange Upbit has invited … Read more