In a significant move to recover local tax arrears, North Gyeongsang Province in South Korea has seized cryptoassets valued at approximately $890,000 from residents who have failed to pay their taxes.
Read MoreIn a significant move to recover local tax arrears, North Gyeongsang Province in South Korea has seized cryptoassets valued at approximately $890,000 from residents who have failed to pay their taxes.
Read MoreA new regulatory body in South Korea, tentatively named the Virtual Assets Committee, is poised to launch this month, with Bitcoin ETF approval being a key focus.
Read MoreSouth Korea, once a bastion of crypto regulation, is showing signs of softening its stance on spot crypto ETFs. The recent formation of a new crypto committee within the Financial Services Commission (FSC) has sparked renewed discussions about lifting the existing ban on these financial products.
Read MoreThe Financial Services Commission (FSC) of South Korea is set to reevaluate its long-standing ban on local spot exchange-traded funds (ETFs) and institutional accounts on cryptocurrency exchanges.
Read MoreAs the cryptocurrency market continues to evolve, certain countries are emerging as prime destinations for crypto businesses in 2024. A recent report by Social Capital Markets identifies Dubai, Switzerland, and South Korea as the top three countries, thanks to their legal clarity, favorable tax regimes, and growing acceptance of cryptocurrency payments.
Read MoreThe South Korean government is set to introduce stringent regulations on dollar-pegged stablecoins, emphasizing the importance of cross-border transactions in the evolving digital asset landscape.
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