South Korea’s National Tax Service (NTS) will withhold tax worth 80.3 billion won, or $70 million, from the country’s largest crypto exchange Bithumb. CoinDesk Korea reported Sunday that Vidente, the largest shareholder of Bithumb Holdings, which runs Bithumb Korea, confirmed the withheld amount in a notice and said the tax will be imposed on its […]
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South Korea’s central bank is organizing a task force to research central bank digital currencies (CBDCs). Announced in a Dec. 26 report titled “Monetary Policy for 2020,” the Bank of Korea will hire experts to study the effects of distributed ledgers, cryptocurrencies and CBDCs on financial settlements and security. The group will also “keep an […]
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South Korea’s biggest cryptocurrency exchanges has revealed a sizable hack. 342,000 ETH (approximately $50 million in value) were stolen from the exchange. All lost funds will be covered, according to the head of the firm. Upbit, South Korea’s largest cryptocurrency exchange by market-share and trading, has been hacked. At the moment, all trading activities, deposits, […]
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North Korea’s state press has hit back at a UN report accusing Kim Jong Un’s regime of stealing billions from banks and crypto exchanges to fund its nuclear program. | Source: Shutterstock By CCN Markets: North Korea (DPRK) is sniffing out angry flames after getting accused of siphoning $2 billion from banks and bitcoin exchanges. […]
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South Korea’s top financial regulator has said it will not lift the ban on domestic initial coin offerings (ICOs) after finding that some projects have been violating rules. As ICO investment is a “high risk” activity, the Financial Services Commission (FSC) said, calling on the public to exercise caution when investing in token projects, according […]
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The chairman of Korea’s National Policy Committee has called for the legalization of initial coin offerings (ICOs), provided that a regulatory framework is put in place. According to a report from CoinDesk Korea on Tuesday, Min Byung-Doo, who is a member of the country’s governing Democratic party, said that, with token sales becoming a global […]
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The chairman of Korea’s National Policy Committee has called for the legalization of initial coin offerings (ICOs), providing that a regulatory framework is put in place. According to a report from CoinDesk Korea on Tuesday, Min Byung-Doo, who is a member of the country’s governing Democratic party, said that, with token sales becoming a global […]
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The governor of South Korea’s Jeju island is maintaining his push to turn the autonomous region into a blockchain and initial coin offering (ICO) free zone. On Thursday, South Korean provincial governors hosted a meeting with President Moon Jae-in to discuss job creation in the country. In his remarks, Governor Won Hee-ryong of the Jeju province […]
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