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“# Bullish Bitcoin trading in Korea provides tailwinds for Kakao share price ” With crypto trading reportedly reaching feverish proportions in South Korea, internet giant Kakao might be set for an upward share price advance. Quoting comments from analysts Mirae Asset Daewoo — a South Korean brokerage outfit — The Korea Herald has reported that…
“# Report all crypto transactions or face 5-year jail term in South Korea ” South Korea’s cryptocurrency regulatory space is set to become even more tightly regulated with the incoming laws on financial reporting for crypto businesses in the country. According to Korea JoongAng Daily, South Korea’s Financial Services Commission has amended its financial reporting…
“# South Korea deepens probe on tax evasion via cryptocurrencies ” The National Tax Service of South Korea is increasing its efforts to combat tax evasion and is now focusing on the use of cryptocurrencies for such illicit activities. According to The Korea Herald, the tax agency has identified more than 2,400 tax evaders who…
“# Reported volume of top South Korean crypto exchanges surpasses that of the country’s stock market ” The volume of transactions in the South Korean digital currency market briefly exceeded the daily average transaction amount of the country’s stock market on Sunday. According to data from CoinMarketCap, the combined 24-hour volume of major South Korea-based…
“# Bitcoin flippens South Korean won, closes in on Google ” The market capitalization of Bitcoin recently rose above $1 trillion once again. Now the asset has surpassed the total market cap of the South Korean won. According to data from AssetDash, the Bitcoin (BTC) market cap is $1.057 trillion at time of publication. This…
“#Coupang, South Korea’s Amazon, raises $4.6B in American IPO” Coupang — a South Korean e-commerce giant that has been likened to Amazon — raised nearly $4.6 billion in the US’ largest initial public offering so far this year. The Seoul-based startup said it sold 130 million shares at $35 apiece in the IPO, giving it…
“# South Korean Shinhan Bank pilots digital currency platform with LG CNS ” Major South Korean commercial bank Shinhan Bank is looking to collaborate with the country’s central bank on developing a national digital currency. Shinhan Bank has developed a blockchain-based pilot platform for a central bank digital currency, or CBDC, in partnership with LG…
“# Korean crypto exchanges could soon face fines for gaps in due diligence measures ” South Korean crypto exchanges that don’t take extensive data collection and identity verification measures could soon be subject to heavy fines. According to an official announcement Wednesday, South Korea’s Financial Services Commission has come up with a revised proposal for…
“# Korean crypto exchange Bithumb toughens up its Anti-Money Laundering measures ” South Korean cryptocurrency exchange Bithumb is toughening its approach to Anti-Money Laundering enforcement with a series of new measures that include trading restrictions, stronger Know Your Customer checks, and specialized blockchain intelligence solutions. The popular exchange, which has an estimated average of 1…
“# ICON (ICX) unaffected by South Korean tax investigation into ICONLOOP, says chairman ” The ICON Foundation, creator of the ICON (ICX) project, has issued an official response to the news that South Korean tax authorities are investigating its technical partner, ICONLOOP. In a statement published on Monday, the chairman of the ICON Foundation, Min…