South Korea

South Korea to shut down 11 local digital currency exchanges: report
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7 August, 2021

South Korea to shut down 11 local digital currency exchanges: report

The Financial Services Commission reportedly plans on denying 11 local exchanges approval to serve the South Korean market as it...
Here’s how Bank of Korea’s CBDC pilot is taking shape, as explained by blockchain exec
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6 August, 2021

Here’s how Bank of Korea’s CBDC pilot is taking shape, as explained by blockchain exec

The pilot is to take part over two stages, with the initial basic testing phase set to conclude by December...
South Korea to seize digital currencies from tax dodgers in proposed law
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28 July, 2021

South Korea to seize digital currencies from tax dodgers in proposed law

To help share the burden of taking care of its aging population, the South Korean government has been hiking taxes...
South Korea warns foreign exchanges to register by Sept 24 or risk being shut down
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27 July, 2021

South Korea warns foreign exchanges to register by Sept 24 or risk being shut down

Under the Specific Financial Information Act, any exchange operator that continues to operate past the deadline without registering is liable...
South Korean internet companies vie for digital currency pilot
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17 July, 2021

South Korean internet companies vie for digital currency pilot

Subsidiaries of Naver and Kakao are reported to have submitted proposals to run the 10-month blockchain pilot program, which will...
South Korea FSC: Overseas exchanges must register with AML body
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16 July, 2021

South Korea FSC: Overseas exchanges must register with AML body

The head of the Financial Services Commission said that these exchanges must comply with the revised laws that requires exchanges...
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