SEOUL, Jan. 22 (Korea Bizwire) — With cryptocurrency valuations having plummeted since reaching record highs only weeks ago, online communities for investors have degenerated from optimism and high spirits to, evidenced by uploaded photos of cracked monitors and ruined doors, bitterness and destructive behavior. Whether the damage wrought in these photos was truly caused by [...]
SEOUL, Jan. 22 (Korea Bizwire) — The government said Monday it will collect up to 24.2 percent of corporate and local income taxes from South Korea’s cryptocurrency exchanges this year. The Seoul government has been striving to rein in the virtual currency frenzy in Asia’s fourth-largest economy while contemplating a bill to ban cryptocurrency exchanges. [...]
SEOUL, Jan. 15 (Korea Bizwire) – The Financial Supervisory Service (FSC) has crafted a rewards-and-penalties system to persuade cryptocurrency investors to provide identification information prior to conducting transactions. An individual at one of South Korea’s financial regulatory agencies said, “Since banning cryptocurrency transactions outright will take a considerable amount of time, [the FSC] will look [...]
SEJONG, Jan. 12 (Korea Bizwire) — Finance Minister Kim Dong-yeon said Friday that relevant ministries need to hold more consultations over the justice ministry’s plan to ban cryptocurrency exchanges, but the government will continue to take actions against speculative investment in virtual coins. The remarks by Kim came a day after Justice Minister Park Sang-ki [...]
SEOUL, Jan. 11 (Korea Bizwire) – In what could be the first domino to fall in a sweeping investigation into all things cryptocurrency, Coinone, one of the top three exchanges in the country, is currently the subject of a police investigation. With fellow exchange Bithumb also falling under the crosshairs of the National Tax Service, [...]