Ex-South Korean Lawmaker Sentenced to Six Months for Concealing Cryptocurrency Assets
A former South Korean legislator from the Democratic Party received a six-month prison term for deliberately withholding significant cryptocurrency holdings from his mandatory financial disclosures, in a case that has drawn fresh scrutiny to the transparency standards for public officials in one of Asia’s major economies.
South Korea Markets Tumble During Martial Law Crisis
South Korean President Yoon Suk Yeol declared emergency martial law, citing threats from "communist forces" and "anti-state elements" within the country. This unprecedented move, the first since South Korea's democratization in 1987, has sent shockwaves through both the political landscape and financial markets.
South Korea to Delay Crypto Tax
South Korea’s cryptocurrency tax policy is once again in the spotlight, following a series of delays that have become emblematic of the challenges faced by regulators worldwide. Initially planned for 2022, the tax, which would impose a 20% levy on annual crypto gains exceeding 2.5 million won (around $1,800), was postponed several times.
Bitcoin now legal in South Korea, India, and “at par” with fiat in France
Against a grim macro outlook, there was some good regulatory news last month. A French court ruled that bitcoin is a legally recognized currency. The Indian Supreme Court overturned India’s crypto banking ban, and South Korea has now fully legalized crypto assets within its borders.
Samsung takes the lead in the new blockchain smartphone market
Samsung's crypto-friendly version of its flagship Galaxy Note 10 is the first of a new wave of blockchain handsets to hit the market.
Kimchi premium returns as Asian traders stack Bitcoin
When South Korean investors piled into Bitcoin in late 2017, its price in Korean won soared even higher than the dollar, with Korean traders paying up to fifty percent more than westerners. With this 'kimchi premium', as it came to be known, returning to the market, what are the implications for Asian traders and for Bitcoin?
South Korea puts exchanges on the hook for losses
Emerging from the wake of the 2008 financial crash, Bitcoin promised an alternative to bailing out central banks. But all too often, Bitcoiners have found themselves paying for the mistakes of crypto exchanges, which continue to get hacked.
South Korean banks spearhead blockchain adoption
South Korea is a global crypto hot spot and its citizens are some of the most enthusiastic crypto traders in the world. The technology-focused country continues to adopt blockchain solutions with South Korea’s largest bank Kookin the latest to announce a new crypto initiative.
Why South Korea still matters to crypto
With China to its west and Japan to its east, South Korea is surrounded by economic giants, but nonetheless remains a pivotal influence on the global cryptocurrency markets — for reasons that are not immediately apparent to most external observers
Fourth largest Bitcoin exchange. Bithumb, hacked for billions of Won
The largest bitcoin and Ether exchange in South Korea by volume, Bithumb, was recently hacked. Monetary losses from compromised accounts have started to surface, and are quickly reaching into the Billions of won.
South Korea plans national digital currency using a Blockchain
At Monday’s 12th annual FinTech Demo Day in Seoul, the chairman of South Korea’s Financial Services Commission (FSC), Yim Jong-yong, announced that his department will, “Lay the systemic groundwork for the spread of digital currency.”
