Category: South Korea
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South Korea’s tourist hotspot launches DLT-based app tracing COVID-19
Jeju Island and blockchain company Iconloop are proceeding with a full rollout of their COVID-19 contact tracing app following successful pilots.
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Korea’s Shinhan Bank makes strategic investment in crypto custody consortium
South Korea’s Shinhan Bank has invested in a crypto custody service backed by local crypto exchange Korbit.
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South Korean gaming conglomerate Nexon denies plans to acquire Bithumb
Reports last week had claimed that Nexon was poised to acquire the exchange at an evaluated price of roughly $460 million.
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Major South Korean Bank Shinhan Is Set to Offer Crypto Custody-Related Services
A major commercial bank in South Korea is entering the crypto business by allocating an equity investment in the Korea Digital Asset Trust (KDAC). Shinhan Bank is looking to offer digital asset custody services. Bank Expects to Offer Tech Capabilities to Face Defi-Related Hacking Risks According to inews24, the bank announced the investment in the…
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South Korean Government to Start Taxing Crypto Trading Profits in 2022
The South Korean government has issued an amendment to introduce tax on cryptocurrency trading profits. The plan is now a reality after several attempts to delay it by lawmakers. New Rules Impose 20% Tax on Crypto Profits Per Asia Today, the legislative notice details that the amendment will be enacted in February, and profits from…
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South Korean Gaming Giant Planning to Buy Crypto Exchange Bithumb for $460 Million
Nexon, the South Korean multi-billion-dollar gaming conglomerate, is reportedly planning to buy a 65% stake in troubled crypto exchange Bithumb in a deal worth about 500 billion won ($460 million). ● According to local media reports, Nexon is to buy all the shares owned by Bithumb chairman Lee Jung Hoon, including several others totaling up…
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South Korea to introduce a 20% tax on crypto trading profits in 2023
After several delays, the South Korean government is going ahead with a plan to tax cryptocurrency holders.
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Report: Major gaming conglomerate Nixon prepares to acquire Bithumb
South Korean media has reported that Nexon, a multi-billion dollar conglomerate led by CEO Kim Seong-Ju, plans to acquire the country’s largest cryptocurrency exchange.
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South Korean Politicians Won’t Be Required to Disclose Their Crypto Holdings After Proposals Failed to Pass the National Assembly
South Korean politicians won’t be required to disclose their crypto holdings or crypto-related earnings as no fewer than three cryptocurrency-related bills failed to pass the National Assembly. Proposal Submitted in November 2020 According to the Electronic Times, the bills aimed to require lawmakers and senior public servants to report all their cryptocurrency holdings and their…