An $8 million ICO project is shutting down, citing regulatory uncertainty and difficulties in onboarding new users. Content-sharing platform Contents Protocol announced Wednesday that following numerous attempts to turn its…
The South Korean initial coin offering project Contents Protocol will return 26,877 Ether (ETH) ($7.5 million at press time) to holders of its CPT token. Both legal obstacles and business…
Global central banks are increasingly looking at blockchain technology as a tool to make interbanking processes more efficient and transparent. Following the World Bank’s exemplary experience of blockchain bond transactions,…
As not a day goes by without another cryptocurrency partnership, one of the biggest crypto exchanges in South Korea has begun new cooperation. Major South Korean cryptocurrency exchange Bithumb has…
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. 12. The application…
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 council grows …
The Seoul Southern District Court has acquitted senior executives at Upbit crypto exchange of fraud charges. Insufficient Evidence Against Upbit Chiefs Delivering judgment on the matter, Deputy Judge Oh Sang-yong…
Popular South Korean crypto wallet, Bitberry, is closing down soon. The CEO of Bitberry’s parent company cited “market deterioration and uncertainty in the blockchain industry” as the reason for discontinuing…
Since the end of World War II, the United States has been an undisputed global leader in innovation. From putting a man on the moon to the “Traitorous Eight” of…
The South Korean military’s Military Manpower Administration has partnered with Raonsecure, one of S. Korea’s leading ICT security software companies, to provide a blockchain-based biometric ID and authentication solution for…
The South Korean government is said to be considering imposing a 20 percent tax on all cryptocurrency transactions. South Korea‘s Yonhap News Agency reported Monday that officials from the Ministry…
South Korea’s Ministry of Economy and Finance is considering imposing a 20% tax on income from cryptocurrency transactions. According to a report published by local English-language news outlet The Korea…
Bitcoin Cash has been added to Mecon Cash’s M.Pay platform which is integrated with over 13,000 ATMs in South Korea. By making bitcoin cash usable for withdrawing won across the…
Bithumb, a major crypto exchange in South Korea, has taken the country’s tax authority to court over a “groundless” tax imposed on the exchange. Experts explain that currently there are…
The South Korean crypto ban placed back in 2017 was a breach of fundamental rights, holds the arguments in a recent public plea. South Korean Government Placed Multiple Restrictions on…
Bithumb, a major crypto exchange in South Korea, has taken the country’s tax authority to court over a “groundless” tax imposed on the exchange. Experts explain that currently there are…
South Korea-based exchange Bithumb is fighting a move by the country’s tax authority to withhold over $69 million in tax on foreign cryptocurrency transactions. Confirmed by the company in December,…
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.…
South Korea remains the third-largest crypto exchange market by volume, just behind the United States and Japan. Despite that, throughout the past three years, the government of South Korea has…
Cryptocurrency exchange Binance has made its first direct investment in a South Korean startup. According to an exclusive report by CoinDesk Korea, Binance has taken a 500 million won ($432,000)…
In this roundup, we cover EU-wide crypto regulations and individual countries’ new digital asset rules including Austria and the U.K. We also cover numerous crypto regulatory developments in the U.S.,…
South Korean cryptocurrency exchange Bithumb has pledged to invest roughly $8 million into the Busan blockchain zone. The region was recently declared “regulation-free” by the national government and modeled after…
A South Korean crypto YouTuber was assaulted at his home, with some suggesting the attackers may have been by upset investors. Kyu-hoon “Spunky” Hwang was beaten in an elevator in…
Bithumb, one of the world’s largest cryptocurrency exchanges, could invest more than $8 million into South Korea’s regulatory sandbox. Via its daughter company GCX Alliance, Bithumb has shown intent to…
The Korean Upbit Exchange plans to reopen deposit wallets for its leading assets, including XRP, EOS and Litecoin (LTC). Upbit Wallets Reopen for XRP, EOS, LTC, and ETH Upbit, which…
A South Korean committee directly under the president has recommended several measures to the government that will make cryptocurrency mainstream. Emphasizing that “it is no longer possible to stop crypto…
In this roundup, we cover several crypto-related actions by the U.S. Securities and Exchange Commission (SEC) and the New York regulator’s crypto job posting. We also cover new Chinese laws,…
In this roundup, we cover several crypto-related actions by the U.S. Securities and Exchange Commission (SEC) and the New York regulator’s crypto job posting. We also cover new Chinese laws,…
South Korean cryptocurrency exchange Bithumb has established its own research and development (R&D) center. According to an announcement on Jan. 6, the initiative makes Bithumb the first company with a…
Financial institutions should be allowed to offer cryptocurrency products, such as derivatives, according to a government advisory body in South Korea. In a new report, the Presidential Committee on the…
The South Korean Presidential Committee on the Fourth Industrial Revolution (PCFIR) has recommended the government to allow financial institutions to launch cryptocurrency-based financial products. Local English-language news outlet BusinessKorea reported…
Cryptocurrency and taxation laws are creating a great deal of confusion in South Korea. On Dec. 30, South Korea’s government stated that under current law, it cannot impose income taxes…
South Korea has confirmed that income tax cannot be levied on individual investors’ profits from crypto transactions under the current tax law. The government, however, is reviewing international trends and…
The National Tax Service of South Korea (NTS) has decided to withhold income tax from Bithumb’s foreign customers. The total tax to be imposed on their transactions amounts to more…
South Korea‘s National Tax Service (NTS) will withhold tax worth 80.3 billion won, or $70 million, from the country’s largest crypto exchange Bithumb. CoinDesk Korea reported on Sunday that Vidente,…
Major South Korean cryptocurrency exchange Bithumb is reportedly looking to undertake administrative litigation over an $68.9 million (80 billion won) tax bill. English-language local news outlet KoreaHerald reported on Dec.…
Far away from western eyes, Asian blockchain projects are thriving. A vibrant ecosystem of public and permissioned chains has sprung to life in Asia, aided by government and big business…
South Korea’s central bank is organizing a task force to research central bank digital currencies (CDBCs). Announced in a Dec. 26 report titled “Monetary Policy for 2020,” the Bank of…
South Korea’s central bank, the Bank of Korea (BOK), plans to organize a task force dedicated to central bank digital currency (CBDC) research in the new year. In its “Monetary…
South Korea’s biggest telecom company, KT, just announced the launch of a local blockchain-based currency for one of the country’s largest cities, which will reportedly go live on Dec. 30. …
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