Cryptocurrency Analysis and News Portal
The number of coronavirus cases in South Korea reached 156 on Friday. Soldiers at the Navy, Army and Air Force have been diagnosed with COVID-19. With 52 new confirmed cases, South Korea has the highest number of coronavirus infections outside China. According to Yonhap News Agency, a government-funded mainstream
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More than 30 people in city of Daegu were confirmed with coronavirus in the past 2 days. The mayor considers the virus to be a level 4 contagious disease, the highest level possible. Local officials are preparing for worse to come. Over 30 confirmed cases of coronavirus have emerged
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The Bank of Korea (BOK) is looking at developing a new blockchain system for the Korean bond market, one of the largest such markets in Asia. Korean financial news site Yonhap Infomax confirmed Tuesday the Korean central bank was looking for a company that can build a new blockchain system
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Bithumb, one of the world’s largest cryptocurrency exchanges, could invest more than $8 million into South Korea’s regulatory sandbox. Via its daughter company GCX Alliance, Bithumb has shown intent to put 10 billion won ($8 million) into South Korea’s “regulatory free zone” in Busan, according to reporting from Seoul on
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South Korea’s Presidential Committee on the Fourth Industrial Revolution (PCFIR) is advocating that the Korean government makes cryptocurrencies mainstream by introducing friendly regulations that will help to integrate distributed ledger technology (DLT) powered digital assets into the traditional financial world, according to an Ibtimes report. PCFIR Push to Make Cryptocurrency Mainstream Per
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South Korean cryptocurrency exchange Bithumb has established its own research and development (R&D) center.According to an announcement on Jan. 6, the initiative makes Bithumb the first company with a blockchain and cryptocurrency research center in South Korea. Bithumb expressed high hopes for the research center’s impact on the company:“Bithumb
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Financial institutions should be allowed to offer cryptocurrency products, such as derivatives, according to a government advisory body in South Korea.In a new report, the Presidential Committee on the Fourth Industrial Revolution (PCFIR) proposed that the government could move to bring cryptocurrencies into the mainstream of finance through a number
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Cryptocurrency and taxation laws are creating a great deal of confusion in South Korea.On Dec. 30, South Korea’s government stated that under current law, it cannot impose income taxes on individuals’ profits from transactions of cryptocurrency. This, however, contrasts with the National Tax Service’s recent imposition of an 80
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In a shocking turn of events, South Korea’s National Tax Service (NTS) is planning to withhold tax from Bithumb, the largest crypto exchange in the country, on income from foreign clients.This is the first time that the NTS has moved to withhold tax on income obtained from cryptocurrency transactions. There
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South Korea’s central bank is organizing a task force to research central bank digital currencies (CDBCs). Announced in a Dec. 26 report titled "Monetary Policy for 2020,” the Bank of Korea will hire experts to study the effects of distributed ledgers, cryptocurrencies and CBDCs on financial settlements and security. The group
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