South Korea

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 Korea to Crack Down on Phishing Websites Attacking Crypto Users

<div class=”featured_image_container”> </div> <strong>South Korean authorities are intensifying their monitoring of phishing activity related to cryptocurrencies. The government has identified a record number of websites trying to obtain login details from crypto exchange users. Over 30 sites have been taken down in just three months this year. </strong> Seoul Strengthens Monitoring of Crypto Phishing Scams …

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South Korean Police Officers Banned From Buying Cryptocurrency

<div class=”featured_image_container”> </div> <strong>A recent ban imposed by the South Korean National Police Agency will bar particular officers from purchasing additional cryptocurrencies. The announcement coincides with a report revealing a heightened domestic availability of digital coins, in comparison to the global marketplace. </strong> South Korea to Penalize National Police Agency Officers Who Fail to Disclose …

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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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Young Koreans Less Keen on Crypto Taxation Than Older Generations, Poll Finds

<div class=”featured_image_container”> </div> <strong>Opponents of the government’s plan to tax gains from cryptocurrency trading outnumber supporters among South Koreans in their 20s, a new survey shows. Representatives of other age groups are more open to the proposed taxation of investments in virtual assets.</strong> Nearly Half of Young Koreans Reject Tax on Crypto Profits According to …

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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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South Koreans File Online Petitions Seeking to Remove a Chief Regulator After Harsh Crypto Comments

<div class=”featured_image_container”> </div> <strong>As the South Korean government keeps strengthening the harsh rhetoric against cryptocurrencies, citizens have become increasingly angry due to the recent words from regulatory authorities. Over the weekend, petitions started to appear on the web, seeking the removal of the head of the country’s Financial Services Commission (FSC).</strong> Over 141,000 Signatures Collected …

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All 200 Cryptocurrency Exchanges Could Be Shut Down Under New Regulation in South Korea, Regulator Warns

<div class=”featured_image_container”> </div> <strong>The chairman of South Korea’s top financial regulator, the Financial Services Commission (FSC), Eun Sung-soo, has warned that all of the cryptocurrency exchanges in the country could be shut down. South Korea currently has about 200 cryptocurrency exchanges, he said.</strong> All Crypto Exchanges Could Be Shut Down in South Korea At the …

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South Korea’s Bitcoin ‘Kimchi Premium’ Reappears, Korbit and Bithumb Exchange Volumes Spike

<div class=”featured_image_container”> </div> <strong>During the first week of April, South Korea’s ‘kimchi premium’ on domestic cryptocurrency exchanges had jumped over 18%, but then leveled off, equalizing with global exchange rates over the last two weeks. On Monday, as bitcoin prices spiked 8% higher surpassing the $54k zone, in South Korea, the premium on bitcoin climbed …

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Tax Authority Seizes Cryptocurrencies Worth $25 Million From Hundreds of Crypto Investors in South Korea

<div class=”featured_image_container”> </div> <strong>The tax department of the Seoul metropolitan government in South Korea has reportedly seized cryptocurrencies worth about $25 million from hundreds of crypto investors with delinquent taxes. The cryptocurrencies, including bitcoin, were seized from three exchanges. The tax authority is now going after hundreds more taxpayers who are delinquent on paying their …

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