February 26, 2020 South Korea’s Bithumb Launches Zero Fee Transfers to Global Platform Bithumb, South Korea’s largest crypto exchange, has taken another step towards global expansion by strengthening integration with its international arm. South Korea’s largest cryptocurrency exchange, Bithumb, has announced it will take another step towards global expansion by strengthening integration with its international arm.On…
February 25, 2020 South Korean Tax Policy Association Proposes Two-Step Tax on Cryptocurrencies In South Korea, tax experts gathered and proposed a transaction tax on cryptocurrency before leaping straight to an official income tax. South Korean tax experts have advised the Korean government to apply a low-level trading tax on cryptocurrency profits before subjecting citizens to a transfer income tax, according to a Business Korea report.…
February 20, 2020 Tax and KYC Issues Plague Upbit’s Foreign Withdrawals, Exchange Says South Korean crypto exchange Upbit has announced the continuous ban for its foreign users from withdrawing their funds due to tax and KYC issues. A Jinse report said that many Chinese Upbit users are finding it difficult to withdraw Korean Won ever since December.…
February 19, 2020 Korean ICO Contents Protocol Shuts Down, Will Return $7.5M to Holders The South Korean ICO Contents Protocol has decided to fold after business failed to take off, returning a significant portion of its initial funding to the holders of the CPT token. The South Korean initial coin offering project Contents Protocol will return 26,877 Ether (ETH) ($7.5…
February 18, 2020 Bank of Korea Seeks to Deploy Blockchain in Bond Market: Report The Bank of Korea has started a project on building a blockchain-based bond system to enable distribution of bond records. Global central banks are increasingly looking at blockchain technology as a tool to make interbanking processes more efficient and transparent.Following…
February 17, 2020 Bithumb to Get Wall Street-Level Fintech Expertise via New Partnership Bithumb has partnered with Singaporean crypto trading platform BitMax to jointly develop new services and products. As not a day goes by without another cryptocurrency partnership, one of the biggest crypto exchanges in South Korea has begun new cooperation.Major…
February 13, 2020 South Korea Commits $16M to Training Future Digital Finance Experts The South Korean government is going to invest $16 million in training more digital finance experts in the coming four years. The Korean financial services commission and the Seoul metropolitan government have announced plans to invest $16 million in training digital finance experts for four years on Feb.…
February 10, 2020 Huobi Joins Multinational Alliance Klaytn Governance Council Huobi joins Binance and LG Electronics as a member of the Klaytn Governance Council, a part of Kakao’s public blockchain project. Huobi is the latest firm to join the Klaytn Governance Council, a part of Kakao’s public blockchain project which runs its distributed network under the shared governance. The…
January 31, 2020 Is the Future of Blockchain Tech Innovation in the East? The U.S. could lose its position as the innovation leader as the Asian tech market has grown on the global stage. Since the end of World War II, the United States has been an undisputed global leader in innovation.…
January 20, 2020 South Korea Considers Imposing a 20% Income Tax on Cryptocurrencies South Korea’s finance ministry is considering imposing a 20% income tax on cryptocurrency transactions. South Korea’s Ministry of Economy and Finance is considering imposing a 20% tax on income from cryptocurrency transactions.According…
January 15, 2020 Crypto Exchange Upbit Finishes Security Update in Response to 2019 Hack Crypto exchange Upbit recently completed a security overhaul in response to a hack the platform suffered in late 2019. Strengthening its walls after a hack in late 2019, South Korean crypto exchange Upbit has finished a security upgrade for the wallets on its exchange platform, restoring functionality once again.Upbit…
January 15, 2020 Prepare for Liftoff — South Korea’s Crypto Regulation Ignites in 2019 South Korea is at last seeing some progress in crypto regulation, and the government is benchmarking other major markets to oversee the local market. South Korea remains the third-largest crypto exchange market by volume, just behind the United States and Japan.…
