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“# South Korean Bitcoin miners can deduct electricity costs from crypto tax filings ” Crypto investors involved in cryptocurrency mining may enjoy a significant tax break when the country’s virtual currency tax regime commences in 2022. According to a report by Pulse News, South Korea’s Ministry of Economy and Finance on Wednesday announced additional details…
“# South Korean regulators tell banks to open the books on cryptocurrency exchanges ” Financial regulators in South Korea have asked banks to provide information on their dealings with cryptocurrency firms, a local outlet reported on Wednesday, as authorities seek to determine how many cryptocurrency exchanges operate within the country’s borders. An unnamed regulatory body…
“# Survey shows South Koreans support crypto tax law ” An opinion poll conducted by South Korean television station YTN has shown significant support for the planned cryptocurrency tax regime in the country. According to a report by The Korea Herald, 53.7% of the 500 participants polled by South Korea survey firm Realmeter expressed support…
“#Activist says he flew 500K leaflets across Koreas’ border” A South Korean activist said Friday he launched 500,000 propaganda leaflets by balloon into North Korea this week in defiance of a contentious new law that criminalizes such actions. If confirmed, Park Sang-hak’s action would be the first known violation of the law that punishes anti-Pyongyang…
“# South Korea reportedly set to approve cryptocurrency-focused fund ” The Naver News service in South Korea has reported that the country’s Financial Supervisory Service is set to approve a crypto-related fund application by Hanwha Asset Management — a subsidiary of South Korea’s insurance giant Hanwha Life Insurance. Quoting an official of the Korean Financial…
“# Top Korean crypto exchanges reopen brick-and-mortar customer centers ” Coinone, one of South Korea’s top four cryptocurrency exchanges, has reopened its offline customer center in Seoul. According to a report from The Korea Herald on Thursday, the center was initially opened back in September 2017 but had since been closed due to a company…
“# Crypto tax in South Korea is ‘inevitable’ in 2022, says minister ” Amid the growing opposition against the new cryptocurrency tax regime in South Korea, finance minister Hong Nam-ki confirmed that the government will start taxing capital gains from crypto trading starting next year. “It’s inevitable, we will need to impose taxes on gains from…
“# Employees of Korea’s financial regulator ordered to report crypto holdings ” Korean Financial Services Commission (FSC) Chairman Eun Sung-soo has ordered FSC officials who hold crypto to file reports on their investments by May 7. The FSC employees subject to reporting are those who manage virtual currency tech developments, those responsible for drafting and…
“# South Korean Prime Minister nominee to look into controversial crypto tax law ” Kim Boo-kyum, recently nominated as Prime Minister by South Korea’s President Moon Jae-in, has said he will look into the country’s crypto tax law. According to a report by KBS World, the Prime Minister nominee is keen to ensure that there…
“# ConsenSys to develop private version of Kakao’s Klaytn blockchain ” Ethereum software company ConsenSys has formed a technical partnership with Kakao’s Klaytn blockchain, with a view to developing a private platform for the issuance of a South Korean CBDC. Klaytn is a public blockchain developed by Ground X, a blockchain affiliate of the South Korean…