Cryptocurrency Analysis and News Portal
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
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South Korean private sector members recently discussed a crypto-related taxation bill meant to establish capital gains tax for cryptocurrencies. During these discussions on July 13, members indicated crypto gains taxes could rise as high as 20%.Cryptocurrencies could be considered as “goods”Proposed amendments to existing laws also plan to classify cryptocurrencies
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The government of South Korea is trying its best to adopt blockchain technology in various industries. The country’s central bank is reviewing the use of a central bank digital currency, and various government ministries want to adopt decentralized identification features within their current systems. Hospitals, pharmaceutical companies and research centers
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In Busan, a private-public consortium in South Korea announced their intention to build a blockchain-powered medical tourism platform. No deadline for launch is currently set.According to Gyeongnam Ilbo, the initiative will be led by Busan Bank. They are looking to establish the platform within the second largest city of the
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Top ShelfView From the BanksIn an investor note, JPMorgan Chase & Co. analysts noted bitcoin’s success in outperforming traditional assets in March on a volatility-adjusted basis, and also found liquidity on major bitcoin exchanges was more resilient than for traditional assets such as equities and gold. Meanwhile, Mason Privatbank Liechtenstein AG
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South Korea will start taxing profits from bitcoin (BTC) and other cryptocurrencies next year, according to local media reports.The taxation will also apply to bitcoin mining operations and income from initial coin offerings, should it be approved by Parliament.South Korea’s Ministry of Economy and Finance proposed the amendments to
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The government of South Korea’s planned city Sejong — which is the country’s testing ground for major smart city solutions — announced Friday that it will be establishing a blockchain-based platform for storing and verifying the digital identities of self-driving vehicles.An Asian news outlet, Aju Business Daily, reported that South
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New York-based blockchain intelligence firm Chainalysis has launched a new initiative to shed more light on the scope of its latest cryptocurrency crime analyses. Published on May 4, three installments of the firm’s new Crypto Crime Intelligence Briefs provide insights into the mechanisms and routes being used for illicit transactions in
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Huobi Korea announced on April 8 that they would be ending support for Monero (XMR) trading starting on April 9, 2020. They stated that this was due to "low trading volumes and anonymity functions". They did not, however, reference the recent Nth room case, in which South Korean media
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Blockchain forensics firm CipherTrace has published a detailed analysis of how two Chinese nationals. associated with North Korea. laundered tens of millions of dollars worth of stolen cryptocurrency.The pair are believed to be associated with the shadowy Lazarus Group, which was behind the Sony breach in 2014, the WannaCry
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