South Korea to tax inherited and donated digital currencies starting 2022
South Korea’s tax agency will use data from the Big Four exchanges to determine the daily average price upon which it will determine the tax to impose.
Latest South Korea News
South Korea’s Coinone exchange blocks withdrawals to unverified wallets
Wallets such as MetaMask and Ledger, which don't require KYC verification, will no longer be usable on Coinone, a top analyst says it's only a matter of time before other exchanges follow suit.
South Korea man who mistakenly received 200 BTC will not be punished for keeping it
The Supreme Court ruled that since BTC isn’t a property, the man who received 200 BTC by mistake isn't guilty of misappropriation.
Digital currency VC Hashed under investigation by South Korea tax authority
While insiders at the tax agency claim the probe is related to slush funds and tax evasion, Hashed executives said it’s unlikely since tax regulations were postponed.
South Korea postpones 20% digital currency tax to 2023
The country’s National Assembly resolved to push the tax after months of fierce back and forth between the government and members of parliament.
South Korean regulator wants ICO ban reversed
The vice chair of the Financial Services Commission has asked the National Assembly in South Korea to reverse the ICO ban and instead regulate the industry to weed out scammers.
‘Know-the-sender’ rule sparks heated debate in South Korea parliament
The rule would require all businesses to verify and report the identity of any user that sends them digital currencies, which experts say will stifle growth.
South Korea will not regulate NFTs, financial watchdog says
South Korea’s Financial Services Commission is taking a cue from the Financial Action Task Force, which recently said NFTs are not virtual assets.
South Korea’s digital currency tax battle may reach presidential election
There have been some oppositions surrounding the new income tax law, with investors accusing the government of insufficient protective measures for digital currency investors.
South Korea unregulated digital currency forex transfers hit record high at $677M
In the first eight months of the year, South Korea saw forex transfers via digital currencies hit a record high as regulators warn of illicit activities.
South Korea to levy the 20% digital currency tax in 2022 despite opposition
South Korea’s Finance Minister is unflinching on the 20% tax that has become a battle ground between the government and the opposition ahead of March election.
South Korea’s Upbit exchange to limit withdrawals for unverified users
Following the withdrawal limits, Upbit has said it will go further in restricting trading services to verified users only, including all deposits and withdrawals, effective October 13.