Search Results for "south korean"
South Korea Proposes 20% Capital Gains Tax on Cryptocurrency Commodities
South Korea’s parliament has put forward a bill that could see crypto profits taxed by up to 20% as members argue that cryptocurrencies are commodities.
Embattled Korean Crypto Exchange Bithumb May Be Acquired by Huobi
As interest mounts up toward the acquisition of Bithumb, Huobi Global is named as one of the favorite candidates to take up ownership of the exchange.
Blockchain-Based Driving Licenses in South Korea Hit One Million Drivers
Blockchain-powered driving licenses were made available as an option in South Korea in May.
South Korea’s Financial Services Commission to Ban Privacy Coins from Exchanges
South Korea’s Financial Services Commission (FSC) will ban privacy-centric digital assets or “dark coins” from exchanges as they present a high money laundering risk.
South Korea Passes Comprehensive Law Officially Legalizing Cryptocurrency Trading And Holding
A day after India’s Supreme Court lifted the ban on cryptocurrencies, South Korea has followed in their footsteps as the nation’s National Assembly has amended the Act on Reporting and Use of Specific Financial Information. This move fully legalizes cryptocurrencies in South Korea.
South Korea Plans to Postpone Cryptocurrency Tax Rule to January 2022
South Korea is planning to delay the implementation of its crypto income tax rules to January 2022, extending it from its previous time frame of October 2021.
Kookmin Bank, South Korea’s Largest Bank Will Offer Cryptocurrency Custody
Kookmin Bank, the largest commercial bank in South Korea, will start offering Bitcoin custody services through a new partnership with crypto trading firm Cumberland Korea and blockchain venture fund Hashed.
South Korea’s Jeju Island Leverages Blockchain to Curb Depleted Electric Vehicle Batteries
Jeju Island’s government representatives have revealed that a blockchain-powered electric vehicle waste-battery distribution management system has been implemented based on a multi-year support. It will track the history of receipts of waste-batteries acquired at the Jeju Technopark Electric Vehicle Battery Industrialization Center that opened in June 2019.
South Korea to Pump In a Whopping $12.8 Million into Blockchain Industry
The adoption of blockchain technology is set to reach unprecedented levels in major countries, as recently announced by China’s President Xi Jinping. South Korea intends to follow suit based on the revelation made by the Ministry of Science and ICT that USD 12.8 million will be channeled to blockchain projects in 2020.
South Korean Tax Specialists Advocate for Lowered Crypto Taxation
Members of the Korean Tax Policy Association are calling on the government to consider applying a low-level tax on crypto transactions. The South Korean administration is contemplating taxing cryptocurrencies as part of its tax reform plan for 2021, but specialists feel it requires in-depth conceptualization.
South Korean Shared Workspace Company Turns to a Blockchain-Powered Real Estate Platform
Sparkplus, a South Korean office sharing company, has announced a partnership with tech startup Kasa Korea for a blockchain-enabled real estate funding platform. Through the strategic collaboration, Sparkplus seeks to revolutionize Seoul’s sharing economy through a decentralized network that would enable people without much money to collectively and indirectly fund real estate.
The Story Behind Kakao and Klaytn's Blockchain Dominance in Korea
During Hong Kong Fintech Week 2019 held on Nov. 4-8, Zachary Keats, the Director of Corporate Development at Klaytn and Ground X, shared his insights on blockchain adoption initiatives in Korea. Kakao, a South Korean internet company offering a platform of services including messaging, cab-hailing, and payments, has developed Klaytn, the blockchain business arm of the company.