SEOUL, May 16 (Korea Bizwire) – The value of South Korea’s virtual asset market expanded over 50 percent from six months earlier in the second half of last year, on rising prices of cryptocurrencies, data showed Thursday. The market capitalization of the virtual asset market had come to 43.6 trillion won (US$31.8 billion) as of end-2023, [...]
SUWON, Dec. 30 (Korea Bizwire) — Gyeonggi Province said Thursday it will introduce an electronic delinquency tax management system that automatically tracks and confiscates the virtual assets of delinquent taxpayers to save time spent on processing tax payment failures. The provincial office began developing the system in January of this year, reaching completion in September. [...]
SEOUL, Sept. 27 (Korea Bizwire) — The implosion of the TerraUSD and Luna cryptocurrencies, coupled with the stagnating economy, has resulted in the market for virtual assets shrinking significantly this year. The Financial Services Commission conducted a survey of 35 virtual asset businesses this year. The market cap was 23 trillion won (US$16.1 billion), down [...]
VICTORIA, Seychelles, July 14 (Korea Bizwire) – OKX, the world-leading crypto trading app, today announced that it has been granted a provisional virtual assets (VA) license to provide services to qualified investors in the UAE. Granted by the Dubai Virtual Assets Regulatory Authority (VARA), OKX’s provisional license for Dubai allows it to extend certain exchange products and services [...]
SEOUL, June 13 (Korea Bizwire) — The ruling People Power Party (PPP) is considering enacting a law on blockchain-based platforms to better regulate cryptocurrencies and protect investors, the party’s chief policymaker said Monday. “We are thinking of making a law on blockchain-based platforms,” Rep. Sung Il-jong of the PPP said during a party-government consultative meeting [...]
SEOUL, Dec. 30 (Korea Bizwire) — A ruling party lawmaker plans to accept political donations in cryptocurrencies, his office said Thursday, amid rising interest in virtual assets in the country. Rep. Lee Kwang-jae of the ruling Democratic Party is trying to get campaign contributions in virtual currencies and issue non-fungible tokens (NFTs) as a receipt [...]