Tags : Korean

Regulation

Korean crypto exchanges could face harsh laws if new proposal

The ruling party of South Korea has proposed a new bill that aims to limit crypto-related companies’ ability to trade digital assets and increase their liability in case of a hack, local news outlet Naver reported today. The enactment, dubbed “Virtual Assets Act” and presented by the Democratic Party lawmaker Lee Yong-woo, will prohibit crypto […]Read More

Bitcoin

Korean tax officers seize $22M in crypto directly from exchange

South Korea’s Seoul metropolitan government has seized 25 billion won ($22 million) worth of crypto from tax evaders—directly out of their exchange accounts, local news outlet Yonhap reported yesterday. Per the publication, tax officers discovered digital assets belonging to 1,566 individuals and heads of various companies—referred to as “top tax delinquents”—across three cryptocurrency exchanges. The […]Read More

Regulation

Korean minister says all 200 crypto exchanges in the country

Eun Seong-soo, chairman of the Finance Committee in South Korea, said this morning that over 200 cryptocurrency exchanges at the risk of being closed down in September this year if they fail to follow the relevant regulations, as per a report on leading local outlet Chosun. He added officials were further planning to impose taxes […]Read More