South Korean cryptocurrency traders can breathe a little easier after the Ministry of Strategy and Finance has denied rumors that crypto traders would soon have to begin paying capital gains taxes on cryptocurrency profits.
Not only did the hack drag down the trading value of BTC, it also spiked up average transaction fees on the BTC chain.
The partnership will result in the exchange of blockchain information and technical expertise in order to create a blockchain platform and distributed applications (Dapp) that would be permitted under the Islamic law.
South Korean exchange Bithumb, the sixth largest in the world, has reportedly been hacked with damages amounting to $30 million in cryptocurrencies.
Coinrail tweeted this past Monday that they will resume service before July 15, a statement which hasn't been received well by a number of traders.
South Korean financial firm Keypair has started offering a pocket-size NFC cryptocurrency wallet resembling a standard credit card.
South Korea is planning to launch regulations for the cryptocurrency industry similar to those recently implemented by Japan.
Following the intrusion, Coinrail shut down the platform to prevent more damage, but not before losing a significant amount of NPXS, ATC and NPER tokens.
Authorities in South Korea are preparing to charge cryptocurrency exchange Coinone over its margin trading services, which investigators said is used to provide illegal gambling services.
The Supreme Court of South Korea has ruled that cryptocurrencies are eligible for confiscation in enforcement action against criminals, paving the way for the seizure of some $1.4 million in a high-profile child pornography case.
Members of South Korea’s National Assembly have made the official recommendation that the laws banning initial coin offerings should be lifted.
Cryptocurrency traders who still haven’t converted to real-name accounts on Bithumb will face reduced withdrawal limits starting June 4.
