South Korea: Only Certified Crypto Mining Chips Can Be Imported
Cryptocurrency mining chips have "high electricity consumption and high heat discharge" which increases the likelihood of fire, as reported by South Korea's news outlet Kyunghyang.
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South Korea
South Korean Government: Ban on ICOs to Be lifted but ‘Certain Conditions’ Must Be Met
The ban on ICOs in South Korea could be lifted in the coming months, but new conditions must be met.
Cryptocurrency Exchange Bithumb Prepares to Launch Kiosks in South Korea
Bithumb, one of South Korea's largest cryptocurrency exchanges, is launching the "Touch B" brand for installing kiosks in cafes, restaurants and other small eateries.
Public officials in South Korea Banned From Trading and Holding Cryptocurrencies
For government officials in South Korea, any activity or involvement in the crypto space will come at a high price or even in terms of disciplinary measures, as the government reportedly…
Cryptocurrency Gets the Green Light From South Korea’s Financial Regulator
South Korea will allow and encourage banks to make normal transactions with cryptocurrency exchanges, using a real-name trading system.
South Korean Exchanges Made $648 Million in 2017; Now it’s Time to Pay the Taxman!
Figures reported by Yonhap news today, indicated that crypto exchanges in South Korea generated a staggering revenue of $648 million in 2017. Not only does this show the power of South Korea…
Exchange in South Korea Halts Crypto Trading Over KYC Concerns
Coinpian, an exchange in South Korea, recently suspended trading and depositing because of fears over the new KYC regulations. The exchange fears it may not be able to implement all the…
South Korean Authorities Uncover $600 Million in Illegal Cryptocurrency Forex Trading
The Korea Customs Service has revealed that it uncovered illicit Forex trading practices worth over $600 million in cryptocurrency. The investigations revealed that traders using…
South Korea Cracks the Whip on Cryptocurrency Exchanges
Just a day after announcing widespread reforms in the South Korean cryptocurrency market, the South Korea Communications Commission (KCSC) has cracked the whip on 8 of the main players in…
South Korea’s Crypto Exchanges to Pay 24.2 Percent Tax by April 30th
Reportedly, the South Korean government will impose a 24.2 percent corporate and local income tax on revenue made by the country’s cryptocurrency exchanges, starting on April 30th 2018. The…
South Korean Anonymous Trading Accounts to Be Banned as of January 30th
While South Korean Regulators gave the go-ahead to the ban on anonymous crypto trading accounts, local banks prepare to rollout new transparent accounts in a move pushed forward by the…
Exchanges in South Korea Will Begin Sharing Data With Banks
The government of South Korea recently announced that six major banks would now be able to offer their services to digital exchanges. Under this new system, the banks and exchanges will have…
South Korea Update: Fair Trade Chief Claims Government Lack the Authority to Shut Down Crypto…
The Chairman of South Korea's Fair Trade Commission, Kim Sang-Joo, has said on a radio interview that it isn't possible for the government to shut down crypto exchanges in South Korea. He…
South Korea May Shut Down all Cryptocurrency Exchanges in the Country
It seems like South Korea is not letting up on virtual currencies. The government’s top financial regulator has said they are considering whether to shut down all exchanges, or just the ones…
Over 215,000 Sign Petition Opposing the Crackdown on Cryptocoins in South Korea
A petition by South Koreans condemning the extreme crackdown on cryptocurrencies in the country, has attracted more than 200,000 signatures. When this happens, the government is obliged to…