The South Korean government has announced a 20% tax rate for income generated from cryptocurrency trading. Following a Tax Development Review Committee meeting on July 22, the Ministry of Economy and Finance published its revised tax code detailing the new rules. In a section headed, “Taxation on Virtual Asset Transaction Income,” the Read more…
South Korean authorities are investigating a complaint filed by 950 investors who claim to be victims of a crypto-related ponzi scheme. According to TV Chosun, police are looking into reports that over 160 individuals are believed to have operated the alleged scam, known as Futurenet. The Futurenet team is also suspected Read more…
South Korean police investigating the Telegram Nth room sex exploitation and rape video case have arrested a man on suspicion of handling criminal funds – and believe he took cryptocurrencies from chief suspect Cho Joo-bin in exchange for cash. Per YTN, the man has only been identified by his surname – Read more…
The South Korean central bank, the Bank of Korea (BOK) is “one step closer” to launching a pilot for a central bank digital currency (CBDC) and could start piloting a token as early as December this year – in line with central banks in other regions, which are also thought to be on Read more…
South Korean tech giant Samsung has just signed a memorandum of understanding with Israeli fintech startup Credorex, The Korea Herald reports. According to the agreement, both companies will cooperate to develop a solution for bank and merchants based on blockchain technology. The solution will use Samsung SDS’ Nexledger Universal blockchain Read more…