SEOUL, April 23 (Korea Bizwire) — The Seoul metropolitan government said Friday it has seized the cryptocurrencies of hundreds of top tax delinquents who hid their assets in digital form, becoming the country’s first local government to do so. The city government said its tax collection department found the cryptocurrencies of 1,566 individuals and heads [...]
SEOUL, April 23 (Korea Bizwire) – South Korea’s financial authorities are moving to impose an income tax on cryptocurrency trading from next year, but investors in digital tokens have raised a nagging question about the proposed taxation. A growing number of cryptocurrency investors have cried foul over whether the government will collect a tax on [...]
SEOUL, April 20 (Korea Bizwire) – Amid woes over a bubble in cryptocurrencies and their rollercoaster moves, authorities here are taking steps to curb people from making ‘irrational’ investments, and trading platforms may face restructuring as banks are expected to seek tighter screening measures for the opening of real-name bank accounts. Wary of missing out, [...]
SEOUL, April 19 (Korea Bizwire) — South Korea said Monday it plans to crack down on any illegality involving cryptocurrencies, such as money laundering, until June amid skyrocketing prices of virtual money. The interagency crackdown comes as the latest frenzied buying of bitcoin and other cryptocurrencies raises concerns about speculative investments and potential illegal activities, [...]
SEOUL, April 16 (Korea Bizwire) – The cryptocurrency turnover in South Korea has more than doubled over the past month, a market tracker said Friday, as retail investors scramble to the virtual currency amid the fallout of the coronavirus pandemic. The combined turnover of 14 cryptocurrency exchanges in Asia’s fourth-largest economy came to US$21.63 billion [...]
SEOUL, April 15 (Korea Bizwire) — A recent surge in international cash transfers to gain profits from arbitrage between Bitcoin prices overseas and in South Korea, where the so-called ‘kimchi premium’ is added to boost the price of Bitcoin, has South Korean banks on alert. Ffive major banks — KB Kookmin, Shinhan, Hana, Woori and [...]
SINGAPORE, March 10 (Korea Bizwire) — Cryptocurrency derivatives exchange Bybit today announced the appointment of Daniel Lim as general counsel. Lim, a veteran of the banking and finance sector with more than 20 years of experience, will assume responsibility for global compliance matters and oversee the company’s legal team. Lim joins Bybit from an international [...]
LAS VEGAS, March 2 (Korea Bizwire) — via InvestorWire — ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a diversified portfolio comprised of essential business lines that serve consumer product demands in decentralized markets, is pleased to announce that, following the signing of hosting agreements with Bit5ive LLC, based in Miami, Florida, and [...]
SEOUL, Jan. 7 (Korea Bizwire) – Bitcoin topped 40 million won (US$36,800) per unit for the first time in South Korea on Thursday, a local cryptocurrency exchange said. Bitcoin was trading at 40.9 million won as of 8:58 a.m., up 6.94 percent from the previous day, according to local cryptocurrency exchange Bithumb. It just took [...]
VICTORIA, Seychelles, Dec. 30 (Korea Bizwire) – OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is thrilled to announce the launch of OKExChain mainnet. Unlike other exchange chains, OKEx wanted to embody blockchain’s core qualities of openness and decentralization in OKExChain. After more than 10 iterations on the testnet and exhaustive ongoing development, this vision has [...]