South Korea stresses the need to uphold fair taxation principles as it busted digital asset investors who failed to settle taxes, with authorities netting nearly $200 million from the operations.
To foster innovation and speed up the adoption of the metaverse, South Korea looks to apply new laws to the virtual reality gaming space, intensifying its bid to become a powerhouse in the industry.
Top guns in South Korea’s finance market are backing President Yoon Suk-yeol's digital assets campaign with a plan to launch a new wave of exchanges in line with the booming blockchain industry.
The coronavirus pandemic has led to the adoption of a new method that allows South Korean police to collect digital assets as traffic fines settlement.
President-elect Yoon Suk-yeol promised to lift the P2E ban as part of his campaign to open up South Korea to blockchain innovation, but the promise has not been kept.
A document titled the 'National Task Implementation Plan' confirmed that South Korean President Yoon Suk-yeol is looking to introduce the Digital Asset Basic Act (DABA) in 2023.
Newly-elected president Yoon Suk-yeol announced that his government would push back the tax scheduled for 2023 in favor of consumer protections.