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South Korea
South Korean watchdog reportedly fines Terraform Labs $78M for tax evasion
According to South Korean corporate tax laws, foreign-registered companies are treated as domestic if the decision-making process and operations are carried out from the country. 690 Total views 9 Total shares Terraform Labs and…
Do Kwon summoned to parliamentary hearing following UST and LUNA crash
Rep. Yoon Chang-Hyeon noted that Korean exchanges each reacted differently to the crash and he wanted to invite both Do Kwon and the exchanges involved to learn more details. 1821 Total views 5 Total shares The dramatic fall of Terra…
This week’s Law Decoded: Is depegging a real threat to financial stability?
This week will be remembered as the one when the stablecoins showed an unexpected ability to depeg. Terra’s TerraUSD (UST) dropped to a shocking $0.29 following the general meltdown of both crypto and financial markets, but it was also the…
Leaked report: South Korea to establish crypto framework by 2024
The effort will include issuing guidance for NFTs and ICOs, expanding infrastructure and supporting CBDC research. 380 Total views 3 Total shares The administration of the newly-elected President of South Korea, Yoon Suk-yeol, wastes…
Law Decoded: US as an anatomical theater of crypto regulation, Sept. 13–20
Gary Gensler gets grilled on Capitol Hill as crypto looms large on national political agendas from Cuba to South Korea. 1013 Total views 4 Total shares Fall is traditionally the open season for United States financial regulators. The…
Bybit crypto exchange suspends services in South Korea
Amid the looming regulatory deadline in South Korea, a major crypto exchange is closing up shop in the country. 214 Total views 5 Total shares Bybit, one of the world’s top cryptocurrency derivatives exchanges, will halt some of its…
DCG-backed Korean exchange faces closure if it can’t find banking partner
South Korean crypto exchange Gopax has told users if it can't resolve its banking difficulties before a looming regulatory deadline it will need to shut down. 313 Total views 8 Total shares South Korean crypto exchange Gopax, which is…
Korean Finance Minister vows to fight moves to delay the crypto tax code
South Korea’s Minister of Strategy and Finance, Hong Nam-Ki has vowed that the controversial crypto tax code will come into effect on January 1st, 2022 despite moves this week by the majority Democratic Party to postpone it to 2023.The tax…
South Korean lawmaker: Delaying tax laws on crypto is ‘inevitable’
“In a situation where the relevant taxation infrastructure is not sufficiently established, the deferral of taxation on virtual assets is not an option, but an inevitable situation,” said Noh Woong-rae. 319 Total views 6 Total shares…
Majority of Korean crypto exchanges to shut down this month, insiders say
Failure to meet South Korean regulators' new requirements is expected to wipe out tens of crypto exchange operators. 2781 Total views 6 Total shares The deadline for South Korean crypto exchanges to meet new compliance requirements is…
