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“# Bybit crypto exchange suspends services in South Korea ” Bybit, one of the world’s top cryptocurrency derivatives exchanges, will halt some of its services to South Korean users ahead of a licensing deadline. The exchange officially announced on Friday that it will discontinue Korean language support from its platforms as well as its official South…
“# DCG-backed Korean exchange faces closure if it can’t find banking partner ” South Korean crypto exchange Gopax, which is backed by Digital Currency Group, is facing potential closure ahead of the country’s fast-approaching deadline for platforms to submit their requests for an official operating license. To be eligible for a license, all crypto exchanges…
“# Korean Finance Minister vows to fight moves to delay the crypto tax code ” South Korea’s Minister of Strategy and Finance, Hong Nam-Ki has vowed that the controversial crypto tax code will come into effect on January 1st, 2022 despite moves this week by the majority Democratic Party to postpone it to 2023. The…
“# South Korean lawmaker: Delaying tax laws on crypto is ‘inevitable’ ” Noh Woong-rae, a member of South Korea’s National Assembly and a representative of the country’s ruling party, reportedly plans to postpone a bill clarifying the taxation of crypto until 2023. According to a Thursday report from Naver News, Noh said the Democratic Party…
“# Majority of Korean crypto exchanges to shut down this month, insiders say ” The deadline for South Korean crypto exchanges to meet new compliance requirements is looming fast, with all operators expected to submit requests for an official license with the Financial Services Commission (FSC) no later than Sept. 24. Industry actors and representatives…
“# Korean crypto ‘Jedi Master’ plans to launch second VC blockchain fund ” One of South Korea’s leading blockchain evangelists is embarking on another huge blockchain fundraise following the success of his first. Simon Seojoon Kim is planning to raise $173 million for a second blockchain fund following the success of the initial one which…
“# Bithumb crypto exchange reportedly bans foreigners without mobile KYC ” South Korean crypto exchange Bithumb has reportedly announced a ban on foreigners who have not completed phone-based Know Your Customer (KYC) verification. According to local coverage by Pulse, non-Koreans using the Bithumb crypto exchange will be subject to mandatory mobile verification. While the rule…
“# Leading South Korean telecom firm adopts blockchain for carbon ambitions ” A major South Korean telecommunication company, KT Corp, has outlined plans to create a fully electronic documentation service, utilizing blockchain technology to contribute to environmentally conscious ambitions. The telecommunications firm currently provides around 90% of the nation’s fixed-line mobile networks, as well as…
“#South Korean lawmakers mandate cameras in operating rooms after surgery deaths” SEOUL, Aug 31 – South Korean lawmakers voted on Tuesday to require hospitals to place surveillance cameras in operating rooms after a series of medical accidents involving unqualified staff who stood in for surgeons. With the bill’s passage, South Korea will be the first…
“#Apple, Google to lose lucrative payment fees under new law” Apple and Google will be forced to allow app developers to use alternative payment systems under a new law passed by South Korea’s parliament Tuesday, threatening the companies’ lucrative commissions that are facing antitrust scrutiny around the world — including in the US. TheSouth Korean…