Its Period For South Korea To Embrace Bitcoin, States KRX Chairman
it’s South

Its Period For South Korea To Embrace Bitcoin, States KRX Chairman

It’s time to explore ways to embrace Bitcoin and digital assets, Korea Exchange (KRX) Chairman Son Byung-doo said, according to a report by local outlet Chosun. Byung-doo drew parallels between Bitcoin and the traditional capital markets, calling for investor protection and transaction stability measures.“We need to study ways to embrace virtual assets as ‘know-how’ in…

South Korean regulator wants ICO ban reversed
Korean South

South Korean regulator wants ICO ban reversed

In September 2017, at the height of the initial coin offering (ICO) mania, South Korea’s financial regulator banned all token sales in the country, taking after neighboring China. Now, the watchdog wants this ban reversed and is calling for regulation in the sector. A local outlet Money Today report reveals that the Financial Services Commission (FSC) may…

South Recreation area Predicts Bitcoin Can Dominate Our Future
predicts South

South Recreation area Predicts Bitcoin Can Dominate Our Future

Source: Screenshot, Bitcoin Only (South Park Post Covid), Eric Young VFX, YouTubeThe South Park: Post Covid animated movie flick makes a number of bitter predictions on where we are headed, placing the series’ characters in the year 2061. However, it presents a future in which bitcoin (BTC) and other cryptocurrencies are a dominant payment method. Forty…

Southern Korean Political Parties inside De Facto Agreement more than Crypto Tax Delay
Korean South

Southern Korean Political Parties inside De Facto Agreement more than Crypto Tax Delay

Source: Adobe/o_du_vanThe protracted political struggle over the South Korean crypto tax has entered a new – and possibly decisive chapter – with the major parties reaching a “de facto consensus” over a delay that could see traders allowed to transact tax-free until 2024.As reported, both major parties have pledged to dump their hardline stance on…

South Korean Parliament Tries to Push Through Crypto Tax Delay, Govt Fights Back
Korean South

South Korean Parliament Tries to Push Through Crypto Tax Delay, Govt Fights Back

Source: AdobeStock / sanderstockThe South Korean government is on a collision course with lawmakers on both sides of the National Assembly on the issue of crypto tax.The matter has become a political hot potato – or perhaps more accurately, a political hot mess – in recent months. The ruling Democratic Party has already U-turned on its hardline…

South Korean regulator proposes tight new guidelines for token issuers
Korean South

South Korean regulator proposes tight new guidelines for token issuers

The FSC wishes to establish a system that would recover illegally gained funds, dole out criminal punishments, and protect investors from future malfeasance…

South Korea Expands Ban On NFT Video games & Laos Regulates Crypto
Cryptocurrency Korea South

South Korea Expands Ban On NFT Video games & Laos Regulates Crypto

The week started off with unpleasant news for developers and gamers in the crypto community (and likewise for those who plan to jump in), specifically in South Korea. South Korea’s Game Rating and Administration Committee has no intention to lift the ban on NFT games.According to the chairman of the committee Kim Gyu-cheol, the Game…

Ruling South Korean Get together Makes Pro-Crypto Policy U-Turn
Ruling South

Ruling South Korean Get together Makes Pro-Crypto Policy U-Turn

Source: AdobeStock/FiledIMAGEThe head of the ruling Democratic Party in South Korea has promised to make a dramatic U-turn on crypto policy, claiming that “the time has come” for the government to stop regulating crypto and start “fostering” the industry.As previously reported, the party is hoping to cling to power in next year’s general elections, and…

South Koreas Prospective New President Mulls Offering the Crypto to all or any Citizens
Korea's South

South Koreas Prospective New President Mulls Offering the Crypto to all or any Citizens

Source: Adobe/tawatchai1990Crypto has become a key issue in the run-up to the South Korean presidential election – with shots firing in all directions as politicians hunt for votes.As previously reported, the ruling Democratic Party nominee Lee Jae-myung has already pledged to unpick crypto tax law to delay the imposition of a controversial 20% levy on…

South Korea won’t regulate NFTs, financial watchdog states
Korea South

South Korea won’t regulate NFTs, financial watchdog states

South Korea’s financial watchdog will not venture into the non-fungible tokens (NFTs) space. The Financial Services Commission (FSC) will refrain from regulating NFTs as they don’t qualify as virtual assets, the watchdog recently revealed. Regulators globally are keeping an eye on NFTs as their values and market skyrocket. According to CryptoSlam, $13.4 billion worth of NFTs have…