Last updated: March 11, 2024 19:30 EDT | 1 min read A South Korean law firm operator was jailed in Busan on March 11 after being found guilty of stealing clients’ money to spend on crypto investments. The media outlet Newsis reported that the case was heard at the Criminal Division of the Busan District […]
South Korean Law Firm Chief Jailed for Stealing Customer Money to Invest in Crypto Read More »
Last updated: March 5, 2024 18:30 EST | 2 min read Jeju Island, a subtropical province off the South Korean mainland’s south coast, says it wants to use non-fungible tokens (NFTs) to transform its economy. According to CNB News, the island – which has its own legal and administrative status – wants to use NFTs
Jeju Island, South Korea, Eyes NFT-powered Growth Read More »
In 2023, Gyeonggi Province, the most populous province in South Korea, collected millions of dollars from tax evaders by tracking their crypto assets on several centralized exchanges. According to a report by local media Yonhap News Agency, the Gyeonggi Tax Justice Department accrued 6.2 billion won ($4.67 million) in undeclared taxes from evaders by using
South Korea With a Clever Way to Collect Crypto Taxes: And It’s Paying Off Read More »
Last updated: February 21, 2024 18:30 EST | 2 min read South Korean crypto scammers are targeting chat app users on trading- and investment-themed channels, police warned on February 21. Per News1 and Daejon Ilbo, the Sejong South Police Station announced it was investigating multiple cases. The agency said that it had “received about 20
South Korean Crypto Chat App Channel Scams on the Rise, Warn Police Read More »
South Korea’s ruling People Power Party is reportedly advocating for a further two-year taxation postponement on cryptocurrency investment gains, which appears to be part of the party’s campaign for the general election coming in April. Notably, the program was scheduled earlier for 2023 and rescheduled to January 2025, and the current People Power Party request
South Korea Reportedly Pushes for 2-Year Postponement on Crypto Taxation Read More »
South Korea has witnessed a surge in crypto trading, particularly following a market recovery. Correspondingly, authorities in the country received almost 49% more alerts of potentially suspicious transactions from crypto service providers in 2023 compared to the previous year. A paper from the Financial Intelligence Unit (FIU) revealed that South Korea logged 16,076 instances of
South Korean Crypto Exchanges Report Nearly 50% Surge in Suspicious Transactions in 2023 Read More »
Following its initial hostile outlook on the spot Bitcoin exchange-traded fund (ETF), the South Korean government may be giving a second thought to its stance on the financial product. This movement is driven by comments from Sung Tae-yoon, the recently appointed South Korean Presidential Chief of Staff, and an analysis from the Industrial Bank of
South Korean Government May Soon Rethink the Hostility of Bitcoin ETFs: Report Read More »
Source: spaxiax/Adobe South Korean police have arrested a man they suspect of stealing cash as part of a bogus over-the-counter (OTC) crypto exchange. Per the broadcaster KBS, police officers in the town of Icheon, Gyeonggi Province, said they had arrested a man “in his 20s” on theft-related charges. Officers said that the man “lured” a
South Korean Police Arrest Suspected OTC Crypto Thief Read More »
Source: Zerbor/Adobe The South Korean gaming firm WeMade has been hit with a $41 million tax bill for its crypto-related activities. Yonhap reported that the National Tax Service (NTS) issued the bill following an investigation into the firm’s historic crypto business operations. The NTS said it had issued the bill “as a result of the
South Korean Gaming Giant WeMade Must Pay $41M ‘Crypto Tax’ Bill Read More »
Source: Paweł Michałowski/Adobe The South Korean crypto exchange Bithumb says it wants to find the “dormant” owners of $206 million worth of coins, including Bitcoin (BTC), Ethereum (ETH), and XRP. Per Chosun Ilbo, Bithumb said it was launching a “campaign” to help remind users with seizable crypto holdings that their coins remain on the platform.
South Korean Exchange Searches for ‘Lost’ Owners of $206M Worth of Crypto Read More »
