Tag: Korean

Korean blockchain experts seek the government’s help for digital asset market

[ad_1] The Korea Digital Asset Industry Committee comprising of leading Blockchain experts in South Korea has called for the formation of a government committee dedicated to helping and advancing digital asset businesses in the country. The group of experts gathered on Thursday to discuss various ways in which Korea could become a leading digital asset market and what role the should government play to achieve that. The experts believed that blockchain and cryptocurrencies would become pivotal tools for the fourth industrial revolution. The blockchain experts called upon the government to…

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Korean Regulator to Shut Down 11 Cryptocurrency Exchanges Ahead of Regulatory Deadline – Regulation Bitcoin News

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[ad_1] South Korea’s top financial regulator will shut down 11 cryptocurrency exchanges allegedly engaged in fraudulent bank account schemes, local media reported. Meanwhile, the deadline for all crypto exchanges to comply with the country’s regulation is drawing near and most of them have not been able to meet the requirements. 11 Crypto Exchanges Could Be Shut Down South Korea’s top financial regulator, the Financial Services Commission (FSC), will reportedly shut down 11 cryptocurrency exchanges, The Korea Herald reported Monday, citing unnamed industry sources. The 11 crypto exchanges allegedly used fraudulent…

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South Korean regulators parley with 20 crypto exchanges

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[ad_1] Small and medium-sized exchanges in South Korea had a chance to express some of their grievances with the government during a recent meeting with financial regulators. According to a report by South Korean news outlet D.Street, the Financial Services Commission (FSC) convened a closed-door meeting with 20 crypto exchanges on Thursday. Inside sources quoted by D.Street say the closed-door session was a parley between the FSC’s Financial Intelligence Unit (FIU) and the 20 crypto exchanges where the former expressed the government’s desire to implement its virtual asset service provider…

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South Korean City Threatens to Seize Cryptos From Tax Evaders – Regulation Bitcoin News

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[ad_1] 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. 511 Individuals in the Authorities’ Eyes According to Gugkje News, the authorities of Gyeongju, in North Gyeongsang Province, are aware of several possible cases of crypto tax evasion where individuals are reportedly hiding money into cryptocurrencies without reporting them before the tax authorities. As the new “Specific Financial…

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