Tag: South Korea

Jeong Eun-bo, chairman of the South Korea Exchange, has emphasized the growing importance of the virtual currency market, which he believes has become too significant for traditional markets to ignore.  In an interview with South Korea's Maeil Kyungjae, Eun-bo emphasized the need to institutionalize the cryptocurrency market, much like traditional ...

South Korea’s Digital Asset Protection Foundation has officially commenced operations to protect cryptocurrency users impacted by the closure of several exchanges in the country. According to local reports, the Foundation is working to complete the transfer of assets from up to eight closed crypto companies by the end of the ...

South Korea's leading cryptocurrency exchange, Upbit, has officially announced the listing of MOCA, the native token of the metaverse project, Mocaverse, with trading set to commence on December 16, 2024, at 2:00 PM Koeran time.  MOCA will be available for trading in three pairs: Korean Won (KRW), Bitcoin (BTC), and ...

South Korea's Financial Supervisory Service (FSS) has begun investigating the cryptocurrency exchange Coinone due to significant price fluctuations in the MOVE token. According to a report from the local news outlet MTN, the investigation seeks to identify any potential cases of unfair trading. The investigation stems from a dramatic price ...

Crypto Man, a highly anticipated South Korean film, is set to hit theatres on January 15, 2025. The movie, inspired by real events surrounding a $34.9 billion cryptocurrency market collapse, explores the societal and financial fallout of the crisis. According to South Korean media outlet JTBC, the movie's director, Hyun ...

South Korea has delayed the implementation of its controversial 20% cryptocurrency tax for the third time, extending the deadline to 2027. Democratic Party (DP) floor leader Park Chan-dae announced a postponement of cryptocurrency tax enforcement, citing the need for more institutional preparation and a comprehensive overhaul of existing frameworks. This ...

South Korea’s Financial Services Commission (FSC) is taking a cautious stance on digital assets amid growing calls to establish a national Bitcoin reserve.  Speaking to Newsprime on November 24, FSC Chairman Kim Byung-hwan described the idea of a Bitcoin reserve as “a distant story at the moment.” Kim acknowledged the ...

South Korean authorities have identified North Korean hacker groups Lazarus and Andariel as responsible for the $50 million Upbit cryptocurrency hack in 2019. The stolen Ethereum, initially worth 58 billion won, has surged to around 1.47 trillion won due to rising crypto prices. On November 21, the National Investigation Headquarters ...

South Korea's ruling Democratic Party of Korea (DPK) was pushing in late 2024 to introduce long-delayed cryptocurrency tax rules in January 2025. The proposal faced opposition from investors and industry participants, who had already called for another delay. Seoul Shinmun reported at the time that lawmakers were considering changes to ...

Authorities in Paju, a city in South Korea's Gyeonggi Province, are ramping up efforts to collect unpaid taxes by targeting residents who use cryptocurrency to evade payment. Local officials have issued warnings to 17 individuals with outstanding tax debts amounting to 124 million Korean won (approximately $88,600).   According to ...