Cryptocurrency Analysis and News Portal
Starting in the year 2022, donated or inherited virtual assets will be assessed and taxed accordingly, South Korea’s National Tax Service has said. Dunamu, Bithumb Korea, Korbit, and Coinone are the new virtual asset service providers (VASPs) tasked with evaluating digital assets for such tax purposes. Virtual Asset Service Providers
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South Korea’s Shinhan Bank and Hedera Hashgraph (HBAR) have completed a proof of concept that is designed to conduct international remittances using stablecoins on the Hedera Network.The new proof of concept by South Korea's Shinhan Bank for remittances can send money internationally within seconds for a fraction of a cent
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Gamevil, the South Korean mobile game software developer, has acquired blockchain technology company Zenaad with plans to grow as a platform for blockchain-based games. Fast facts Gamevil revealed yesterday that it has entered the final stage of constructing its blockchain ecosystem with the acquisition of Zenaad. The tech force at Zenaad has
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South Korea’s nonfungible token (NFT) space has rapidly expanded throughout 2021 led by the growth of crypto and NFT services offered by Kakao, but competitors are entering the fray.The NFT market in South Korea could be on a path for even more expansion following the Nov. 5 government ruling that NFT
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The Financial Services Commission (FSC) in South Korea reaffirmed in a public statement today that nonfungible tokens (NFT) are not virtual assets, and will not be regulated.The confirmation of the decision to keep NFTs unregulated came after a review of the Financial Action Task Force’s (FATF) updated guidelines. The October
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South Korean Finance Minister and Deputy Prime Minister Hong Nam-ki said his country is moving ahead with its plan to tax gains on cryptocurrency trading starting in 2022, according to a report in The Korea Times.The policy, which will levy a 20% tax on crypto gains of over 2.5 million
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Due to their anonymity or pseudonymity, digital assets are perceived as entailing the risks of money laundering and financing terrorism. In October 2018, the Financial Action Task Force (FATF) adopted changes to its recommendations on financial activities involving digital assets, adding the definitions “virtual asset” (VA) and “virtual asset service
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The tool is aimed to help traders make better decisions based on market sentiment. Source
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Following China's lead, the Bank of Korea is to run circulation trials of a central bank digital currency with assistance from banks. Source
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A group of hackers associated with the North Korean regime have kept their crypto extortion efforts alive in 2020.A group of North Korean hackers operating under the name “Lazarus” targeted several crypto exchanges last year, according to a report published by Chainalysis.One of the attacks involved the creation of a
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