Bithumb takes $69M crypto tax bill to South Korea court
Bithumb has filed a complaint with a court in South Korea, as it seeks to nullify a $69 million bill from the country’s tax agency.
Latest South Korea News
Bithumb invests $8M in South Korea’s regulatory sandbox
Bithumb plans to invest $8M in the country’s regulatory sandbox in the crypto-friendly city of Busan, the first time an exchange will partner local gov’t.
This week in tech: Criminals booked as IBM and Telefonica lead adoption
The week witnessed a number of legal actions against blockchain and crypto criminals, led by the DoJ. IBM, Telefonica and Spain’s CaixaBank led the adoption of blockchain.
CFTC, South Korea crack down on fraud crypto scheme
The CFTC and the South Korean gov’t are pursuing Ben Reynolds, the operator behind Control-Finance crypto scam who’s vanished since he defrauded 1,000+ clients.
Gov’t committee wants to bring crypto products into South Korea
The committee wants cryptos to be listed directly on the Korea Exchange, crypto companies to be licensed and recognized, and a national crypto custody solution.
Crypto exchange Bithumb hit with $68.9M in witholding tax
The crypto exchange’s largest shareholder learned about the taxes days ago after acquiring a majority stake in the firm, intends on seeking legal redress.
Bitcoin SV & Music: The power of two
In the middle of one of Asia’s megacities, Seoul in South Korea, lies the next big thing for music—and Bitcoin SV.
South Korea to tax capital gains on crypto transactions
The South Korean government intends to impose capital gains on crypto transactions by the first half of 2020, collecting data from crypto exchanges.
South Korea’s KT inks blockchain deal with Chinese telecom operator
KT Corporation, South Korea’s largest telecoms operator, will rely on blockchain for its roaming charges with China Mobile.
Cryptocurrency steps closer to legalization in South Korea
The South Korean National Assembly has approved legislation that would classify digital currencies as digital assets, paving the way for them to receive legal status in the country.
South Korea blockchain research gets $380M boost
The Ministry of Science and Technology of South Korea will invest KRW450 billion (~$382 million) to boost blockchain research and development.
South Korea wants criminal penalties for unregistered crypto exchanges
Cryptocurrency executives in South Korea that fail to register their exchanges with the country’s regulator could soon be facing time behind bars.