South Korea authorities to do more to tackle digital currency tax evasion
The National Tax Service has identified some 2,400 suspected tax evaders relying on digital currencies to hide their assets, thought to amount to over KRW36.6 billion.
Latest South Korea News
South Korea’s Shinhan Bank trials new digital currency platform
Shinhan Bank is hoping to collaborate with the central bank with the blockchain-powered platform, in order to assist with the development and rollout of a central bank digital currency in South Korea.
South Korea digital currency exchanges to face penalties for anti-money laundering breaches
The Financial Services Commission has brought forward a new structure of penalties for exchanges that fail to properly implement anti-money laundering measures.
Bithumb ramps up anti-money laundering protections
The new measures include enhanced Know-Your-Customer verification processes, as well as the introduction of new specialized blockchain intelligence technologies.
South Korea’s K Bank aims for digital currency-fueled IPO in 2022
The South Korean startup bank is said to be experiencing rapid growth from its services, which senior executives think could see the bank turning a profit in 2022.
South Korea back on track to roll out 20% digital currency tax by 2022: report
South Korea is reportedly bringing forward—yet again—plans for a tax on digital currency profits, which will see gains liable to a 20% tax.
Bitcoin SV joins Bithumb’s ‘7th Anniversary Airdrop Party’
Bithumb, considered to be one of the top digital currency exchanges in South Korea, is giving away free Bitcoin SV as part of its 7th anniversary celebrations.
South Korean giant Hanwha takes minority stake in Upbit
In a deal reported to be worth $52 million, Hanwha has invested through its brokerage arm, which will acquire 2.06 million shares. The deal is expected to close on February 22.
Huobi Korea secures KISA certification ahead of upcoming Special Payments Act
Digital currency exchange Huobi has secured the backing of regulators in South Korea, following the decision to award Huobi Korea an ISMS certification.
South Korea digital currency tax on track for 2022
Qualifying transactions will be subject to a tax rate of 20%, according to the Ministry of Economy and Finance, which drew up an amendment following a change in the rules in 2020.
Coinbit: South Korea exchange execs charged over wash trading
Authorities in South Korea have brought on market manipulation charges against the executives of Coinbit digital currency exchange.
PlusToken scam: China seizes $4.2B in digital currencies
Court documents from the Jiangsu Yancheng Intermediate People's Court revealed that Chinese police had seized over $4.2 billion in digital currencies at today’s prices.