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The Bank of Korea has successfully completed the first phase of its central bank digital currency mock testing started in August 2021. The South Korean central bank said that the first phase of its CBDC mock testing was completed in December while the second phase is currently underway, reported YNA news.
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The leading presidential candidate of the opposition in South Korea has promised voters to ease the tax burden on crypto-related profits through exemptions. In a recent statement, Yoon Suk-yeol indicated that crypto investors will be treated like those who put money into stocks. Presidential Candidate Looks to Attract Young Voters With
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Lee Jae-myung, nominated by the ruling party in South Korea for the upcoming presidential elections this spring, is preparing to raise funds in cryptocurrencies and issue non-fungible tokens for supporters. His campaign hopes that the initiative will woo young and tech-savvy Korean voters whose interest in digital assets is growing. Ruling
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While South Korea’s plan to tax income from virtual assets has been postponed until 2023, users will be required to pay a levy on inherited or donated crypto assets.Dec 31, 2021 at 12:50 p.m. UTCUpdated Dec 31, 2021 at 12:50 p.m. UTCSeoul, South Korea. (Ciaran O'Brien/Unsplash) Original Source
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Stocks investors would only pay taxes for gains over KRW 50 million (US$42,450), whereas crypto investors would have to start paying when they reach $2,122 in capital gains, Kim said. In addition, investors could carry over stock losses for five years but could not carry over crypto losses at all.
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Ethan Lou is a journalist turned Bitcoin miner turned two-time author whose latest book, Once a Bitcoin Miner: Scandal and Turmoil in the Cryptocurrency Wild West, is a modern western recount a gloomy millennial’s rebirth in the wild west of crypto — complete with scammers, party drugs and a North
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Located in the city of Daejeon in the center of South Korea, KAIST was the country’s first public science-focused research institution when it was founded in the 1970s. It is now considered the country’s top university in that field. The city of Daejeon is itself a center of technological research
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South Korean government officials have created confusion this year with conflicting announcements regarding a possible repeal or amendment of the upcoming crypto tax set to come into effect in 2022.Throughout 2021, debate has increased in intensity in the National Assembly, South Korea’s legislature, about whether, or how, to amend the
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South Korea’s Financial Services Commission, or FSC, announced Tuesday that nonfungible tokens, or NFTs, will be taxed starting next year. According to The Korea Herald, this tax law amendment would impose a 20% tax on income from virtual assets that exceed 2.5 million won ($2,102) as of Jan. 1, 2022. The
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A new data report shows there were about 55,000 blockchain-relate patents applications filed by 7,800 companies from 47 countries and regions during the period between the beginning of 2015 to June 2021, and China has seen the largest share of these applications, as the country has been boosting the development
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