Authorities are looking into the source of a leak that exposed South Korea government’s digital currency taxation plan.
Bank of Korea is seeking to step up its digitalization efforts with the launch of a new department that will focus on blockchain and artificial intelligence.
The proposal will be voted on September 3, 2020, and is expected to take effect on October 1, 2021—if passed.
South Korea wants to digitize its infrastructure as part of the ‘Korea New Deal’. The gov’t intends to spend over $48 billion on blockchain, AI, 5G and more.
South Korean legislators are reportedly edging closer to imposing a 20% capital gains tax on digital currencies and change them from currencies to commodities.
Andong city in South Korea has announced plans to launch a free trade zone for its recently-legalized cannabis industry which will be powered by blockchain.
Close to 1,000 investors in South Korea have lost $16 million to Futurenet, a digital currency scam with Polish links that sold ad packages and promised riches.
A consortium has come together in South Korea to employ blockchain technology in boosting the country’s medical tourism.
Pass enables verification of a user’s driver’s license and is useful in situations where a person has to prove they are of drinking age without sharing other personal details.
South Korea’s Bithumb has reportedly begun the initial public offering process, with the help of Samsung Securities as its underwriter.
Finance Minister Hong Nam-Ki told a parliamentary finance committee the government will introduce a taxation regime for digital currency.