Cryptocurrency Analysis and News Portal
In South Korea, an anonymous crypto investor once wrote to the finance minister that the country’s strict regulations on the virtual asset industry will “destroy the market.” Indeed, South Korean authorities have been keen on getting control of the fast-growing blockchain and crypto sector in the country. Yet, the strict
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South Korea’s opposition People Power Party is preparing a proposal to delay the implementation of the country’s crypto tax legislation, as well as adjust the level at which taxes would kick in, according to a report in the Korea Herald.The bill would delay the legislation coming into effect from the
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Author profile Danny is a journalist at Forkast.News. Originally from South Korea, Danny has produced content for media companies in Korea, Hong Kong and China. He holds a Bachelor of Journalism and Business Marketing from the University of Hong Kong. Author's profile on Twitter @ParkKunwoong Author's profile on LinkedIn Danny Park Source
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The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies
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South Korea banned virtual asset services providers (VASPs) and their staff from trading tokens they issue, the country’s Financial Services Comission (FSC) said in a Wednesday statement.Crypto services providers must set up internal processes for the conflict of interest rules within a month. Those who don’t will be facing suspension
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The deadline for crypto exchanges and service providers in South Korea to meet requirements to stay open under the new regulation has passed. Twenty-nine cryptocurrency exchanges met the deadline to continue operations but only four of them can offer trading in Korean won. New South Korean Crypto Regulation in Effect The Act
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The leader in news and information on cryptocurrency, digital assets and the future of money, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies
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The deadline for cryptocurrency exchanges and wallet operators to comply with the new regulatory requirements to stay open in South Korea is this week. So far, only one crypto exchange has been licensed to continue operations. About 60 crypto exchanges are expected to either shut down or reduce services. 60 Crypto
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Bybit, one of the world’s top cryptocurrency derivatives exchanges, will halt some of its services to South Korean users ahead of a licensing deadline.The exchange officially announced on Friday that it will discontinue Korean language support from its platforms as well as its official South Korean community on social media. The
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A new regulatory overhaul could put 40 out of 60 exchanges out of business in South Korea after the firms are expected to fail to meet the conditions that are being proposed by the Financial Services Commission (FSC). This action might also affect holders of locally used “kimchi” coins, that
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