South Korea

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No, Mainstream Media, That Country Did Not Ban Bitcoin. Again.

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Headlines roared late last night in the western hemisphere, morning in the east, as mainstream media outlets breathlessly ran with an initial report from a legacy wire service: the Republic of South Korea is to ban cryptocurrency. The truth is more subtle, and it’s fast becoming an object lesson in fear, uncertainty, and doubt (FUD). … Read more

Markets Update: Cryptos Look for Relief After South Korea Mainstream Media FUD Causes Losses

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There’s been a lot of uncertainty stemming from the mainstream media’s portrayal of South Korea’s digital asset economy, and rumors of a trading ‘ban’ has triggered some significant cryptocurrency market volatility. The price of bitcoin took a tumble downwards yesterday evening to the $12,775 USD zone around 11 pm EDT, after it came close to … Read more

Korean Regulators Launch Investigations of Bithumb and Coinone Crypto Exchanges

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The South Korean regulators have started investigating two major cryptocurrency exchanges. The country’s National Tax Service has conducted an on-site investigation of Bithumb and Coinone. In addition, Coinone is also being investigated by the Korean police for allegedly offering illegal gambling services to investors. Also read: South Korea Urges 23 Countries, EU, and IMF to Collaborate … Read more

South Korea Urges 23 Countries, EU, and IMF to Collaborate on Curbing Crypto Trading

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The South Korean government has called for financial regulators and central bankers of 23 other countries as well as 12 organizations, including the International Monetary Fund and the European Union, to collaborate on curbing cryptocurrency trading. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, Payments, and Token Sales Other Regulators Urged to Take Action … Read more

South Korea to Cooperate with China and Japan on Regulation

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South Korean regulators are seeking cooperation with counterparts from Beijing and Tokyo to address cryptocurrency speculation. Six commercial banks have been targeted by Seoul authorities inspecting crypto trading. Korean experience is to help a possible trilateral approach to regulation. Also read: Vietnam Expedites Cryptocurrency Legal Framework – Ready End of January “Trial-And-Error” to Shape the … Read more

South Korea Found a Way to Tax Cryptocurrencies Under Current Law

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The South Korean government has announced that some taxes can be applied to cryptocurrencies under the current law, which will be finalized in the first half of this year. Other taxes are also being considered but some are not easily implemented under the current tax system. Also read: Russian Regulators Draft Law to Restrict Crypto Mining, … Read more