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South Korea News and Articles

South Korea crypto tax

South Korea can introduce a 20% tax for crypto-traders


The capital gains tax on operations with cryptocurrencies in South Korea can be up to 20%. This was the opinion of representatives of the private sector during the discussion on legislative initiatives of the country's authorities, writes Cointelegraph with reference to local media. Proposed...


Busan provides access to public services via blockchain app


Busan, the second-largest South Korean city, will provide residents with access to public services through a blockchain identification application from Coinplug. Korean startup Coinplug is still working within the framework of the so-called regulatory sandbox, organized by local authorities. The...


East Asia is most prepared to implement FATF principles


CoolBitX founder Michael Ou says Asian countries are leading the way in introducing a “travel rule” for the FATF, which should be offered no later than June 2020. CoolBitX itself has developed a solution to implement the travel rule called Sygna Bridge. It allows exchanges to communicate with...

South Korea

South Korea starts testing a cryptocurrency pilot program


The business regulator of South Korea will determine the technical and legal grounds for the creation and issue of the digital currency of the central bank (CBDC) from March to December of next year. The technical aspect focuses on the design and functioning of the CBDC. A separate question to be...

Busan invest Bithumb

Bithumb will invest $8.6 million in a free blockchain zone


South Korea's leading crypto exchange Bithumb intends to invest 10 billion won (about $8.6 million) in the “regulatory-free zone” of Busan to develop the blockchain technology. This was reported by The Block, citing a statement by the local ministry of small and medium-sized businesses and...

blockchain regulation in South Korea

Non-regulated zone for blockchain development in South Korea


The South Korean government has declared Busan (the second-largest city in South Korea) a “non-regulatory zone” for blockchain technologies' development. In particular, following the example of the Swiss Zug, Busan will open for a number of initiatives in the field of finance, public security,...

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