News about SOUTH KOREA

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New Virtual Asset Protection Act Takes Effect in South Korea - Bitcoin.com News

New Virtual Asset Protection Act Takes Effect in South Korea& & Bitcoin.com News

New Virtual Asset Protection Act Takes Effect in South Korea

South Korea’s Act on the Protection of Virtual Asset Users went into effect on July 19, 2024, aiming to protect users and ensure market stability. Initially revised in 2021 to mandate virtual asset service providers (VASPs) to register and adhe...

South Korea’s new regulations enhance user protection in the cryptocurrency industry. Virtual asset service providers must keep 80% of user crypto deposits in cold storage.

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South Korea’s New Crypto Investor Protection Law Goes Into Effect

This Friday, the first South Korean crypto regulatory framework has gone into effect after the one-year preparation period. The new law requires firms in the country to comply with stricter requirements to protect investors and their assets. South K...

South Korea's strict laws on crypto exchanges come into force

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South Korea Enacts First Crypto Investor Protection Law, Bolstering Existing Rules

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XRP Dominates South Korean Crypto Market With 31% Surge, Bitcoin Left Behind! - Coinpedia Fintech News

XRP Dominates South Korean Crypto Market With 31% Surge, Bitcoin Left Behind!& & Coinpedia Fintech News

South Korea Considers Deferring Crypto Taxation Until 2028

The ruling party of South Korea is, once again, considering the postponement of the enactment of crypto-specific taxes, as this could influence public opinion towards the government. The party aims to implement these taxation rules by 2028, citing a...

Why Is South Korea Postponing Crypto Taxation?

In a strategic move influenced by upcoming general elections, South Korea has decided to delay the implementation of taxes on cryptocurrency gains until 2028. Initially, the government planned to impose a 20% tax on profits from crypto investments ex...

South Korea Could Delay Crypto Taxation Until 2028 Due To Investors Concerns

A recent report revealed that the South Korean government is considering delaying the crypto gains taxation for a third time. Seemingly, investors in the country are growing concerned due to a lack of system and “market confusion.” Crypto Taxation C...

South Korea Delays Crypto Tax to 2028, What Investors Need to Know

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Binance Seeks to Reduce Stake in Operator of South Korean Crypto Exchange Gopax to 10%

Binance is reportedly seeking to reduce its stake in the South Korean crypto exchange Gopax’s parent company, Streami, to approximately 10%. Binance’s mooted sale of the stake to Megazone comes just over a year after Binance acquired the contro...

Spouse Of Terraform Labs’ Do Kwon Scores Major Victory In South Korean Court

While the extradition of Do Kwon has not yet been decided in Montenegro, the spouse of Terraform Labs founder, Ms. Lee scored a major legal victory against the South Korean state. The court ruled that certain real estate shares and officetel subscrip...

South Korea Launches Continuous Monitoring for Crypto Transactions

South Korea’s Financial Supervisory Service (FSS) will introduce a continuous monitoring system on July 19 to track suspicious cryptocurrency transactions. Developed with local digital asset exchanges, this system aligns with the country’...

Crypto Watchdog Alert: South Korea Unveils Round-the-Clock Monitoring to Combat Fraud

According to a recent report, South Korea has taken a significant stride towards “enhancing the security and “integrity” of its cryptocurrency market. On July 4, the nation’s financial watchdog, the Financial Supervisory Servi...

New Findings Warn Against Crypto ETFs in South Korea: Economic Threat Looms

South Korea appears to have found itself at a crossroads, engaging with the potential impacts of introducing spot crypto exchange-traded funds (ETFs) into its financial ecosystem. The Korea Institute of Finance (KIF) recently released a report voicin...

New South Korean Crypto Law To Review 600 Listed Assets

South Korea will implement its first crypto act on user protection on July 19. As a result, the South Korean financial authority has notified nearly 30 registered exchanges to review the over 600 cryptocurrencies they listed on them. Under the new la...

South Korean Regulator Excludes Certain NFTs From Crypto Regulations

South Korea’s top financial regulator has issued guidelines clarifying when non-fungible tokens (NFTs) are considered virtual assets. This distinction aims to minimize the risk of widespread user harm. The guidelines will be part of the Virtual...

South Korean Regulator Excludes Certain NFTs From Crypto Regulations – Regulation Bitcoin News - Bitcoin.com News

South Korean Regulator Excludes Certain NFTs From Crypto Regulations – Regulation Bitcoin News& & Bitcoin.com News

South Korea Takes Aim: NFTs Now Subject To Regulation

South Korea’s Financial Services Commission (FSC) has unveiled a new regulatory framework for non-fungible tokens (NFTs). The guidelines, issued ahead of the upcoming Virtual Asset User Protection Act taking effect on July 19th, 2024, aim to br...

South Korea issues guidelines for classifying NFTs as virtual assets

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Bitcoin Premium in South Korea Increases, Reflecting Strong Local Demand

After falling below $70,000, bitcoin has stabilized above the $69,000 mark. In contrast, South Korea has seen a notable rise in the premium for bitcoin. South Korea’s Bitcoin Premium Rebounds After Hitting Recent Low Recently, bitcoin (BTC) sa...

Bitcoin Premium in South Korea Increases, Reflecting Strong Local Demand – Markets and Prices Bitcoin News - Bitcoin.com News

Bitcoin Premium in South Korea Increases, Reflecting Strong Local Demand – Markets and Prices Bitcoin News& & Bitcoin.com News

South Korean Universities Face Banking Hurdles in Converting Crypto Donations to Cash

South Korea’s regulations prohibiting corporations from opening virtual asset exchange accounts are making it impossible for local universities to liquidate their large cryptocurrency donations. Financial authorities cite money laundering concerns as...

The cooling of US inflation has boosted Bitcoin's surge, and South Korea's crypto market activity has reached a record high

Bitcoin prices performed strongly amid a stock market rally on Wednesday after the U.S. Consumer Price Index (CPI) for April showed inflation slowing from the previous month. Bitcoin prices jumped more than 7% to $66,124.59, marking their best day si...

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