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.
The Supreme Court ruled that since BTC isn’t a property, the man who received 200 BTC by mistake isn't guilty of misappropriation.
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.
The country’s National Assembly resolved to push the tax after months of fierce back and forth between the government and members of parliament.
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.
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’s Financial Services Commission is taking a cue from the Financial Action Task Force, which recently said NFTs are not virtual assets.
There have been some oppositions surrounding the new income tax law, with investors accusing the government of insufficient protective measures for digital currency investors.
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’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.
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.
The Financial Services Commission in South Korea has issued a decree that bars staff members of any digital currency exchange from trading their own tokens.
The Democratic Party of Korea has reached a consensus to push for a delay in the implementation of the 20% digital currency taxation regime past January 2021.