south korea cryptocurrency

South Korean Banking Association Concerned Over Surge of the Altcoin Trading Frenzy

<div class=”featured_image_container”> </div> <strong>A banking association in South Korea recently added weight to regulatory discussions across the country, raising concerns about the high altcoin trading volume. The Korea Federation of Banks (KFB) requested its members to audit trading volumes through their crypto exchanges’ customers’ altcoin activity.</strong> Altcoins Trading Volume Outperformed Bitcoin Last Weekend in South …

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South Korean Police Raid Crypto Exchange Allegedly Involved in a $214M Multi-Level Marketing Fraud

<div class=”featured_image_container”> </div> <strong>Authorities in South Korea have launched a major raid against a domestic crypto exchange allegedly involved in a millionaire multi-level marketing (MLM) fraud. The police accuse V Global platform of running an illicit operation that reportedly stole hundreds of millions of dollars from investors.</strong> Masterminds Could Have Defrauded Over 40,000 People According …

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South Korean Ruling Party Contemplates Postponing Crypto Tax in a Bid to Regain Younger Votes

<div class=”featured_image_container”> </div> <strong>South Korean political parties are now battling to catch younger votes amid the tough stance among higher government spheres toward digital currencies. As voters are disappointed by how parties are handling the issue, one of them has taken a step forward by talking about the forthcoming crypto tax.</strong> The Democratic Party’s Expectations …

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Former Employees From Major South Korean Firms Quit Their Jobs After Pocketing Millions in Crypto Profits

<div class=”featured_image_container”> </div> <strong>South Korea’s crypto-sphere has been witnessing a volatile environment in terms of regulatory moves, as bitcoin prices and other altcoins are also having wild moves. Such a scenario hasn’t stopped the country’s middle class to profit from the crypto market, even with very successful stories.</strong> One of the Interviewees Risked His Life …

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South Korean Government Seeks to Regulate International Remittances Related to Crypto ‘Kimchi Premium’

<div class=”featured_image_container”> </div> <strong>The famous gap in cryptocurrency prices in South Korean crypto exchanges and overseas ones known as “kimchi premium” raises some concerns among the nation’s government. The latest reports suggest that the country is planning to regulate international remittances tied to kimchi premium-driven transactions.</strong> Remittances to Exploit Kimchi Premium Could Be Flagged as …

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Crypto Fraud Reports in South Korea Surged Over 41% in 2020, Says Financial Watchdog

<div class=”featured_image_container”> </div> <strong>Although bitcoin prices plummeted over the weekend, the overall bull-run remains alive, as well as the crypto-related fraud cases in South Korea. The latest figures by the domestic financial watchdog show that such incidents are still on the rise.</strong> Police to Dedicate a Special Unit to Investigate Crypto Frauds According to Asia …

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South Korean City Threatens to Seize Cryptos From Tax Evaders

<div class=”featured_image_container”> </div> <strong>Crypto tax evasion is becoming a hot potato for the authorities in some Asian countries, such as Japan and South Korea. A South Korean city is now actively fighting against tax evaders who are suspiciously reporting meager earnings in their filings.</strong> 511 Individuals in the Authorities’ Eyes According to Gugkje News, the …

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Former South Korean Social Media Giant in Talks ‘With Major Gaming Companies’ to Implement Its Crypto

<div class=”featured_image_container”> </div> <strong>A former South Korean social media giant is still keeping alive its promise to relaunch its business with the help of the cryptocurrency industry. A local media outlet reported that Cyworld is in talks with “major gaming companies” that involve crypto-related ventures.</strong> Company Also Plans to Launch Its Mainnet to Compete With …

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South Korean Government Announces Crackdown on Illicit Crypto-Related Transactions in an ‘Overheated Market’

<div class=”featured_image_container”> </div> <strong>Adding to the South Korean cryptocurrency industry’s stricter regulations, the central government is focusing on the “crackdown” of illegal crypto transactions. A meeting over the week held with high-ranked politicians resulted in a campaign that will soon be deployed.</strong> Government Seeks International Help to Monitor International Crypto Exchanges According to Chosun, the …

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Study Finds South Koreans Aged 20-39 Mainly Invest up to $100 in Cryptocurrencies

<div class=”featured_image_container”> </div> <strong>South Korea’s “crypto boom” is a term that the local media has widely adopted to refer to the current hype seen across the Asian nation. In fact, a recent study unveiled a rising trend in the number of South Koreans making small-scale crypto investments.</strong> New Crypto Investors Seem Unafraid of Strict Regulations …

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