South Korea reaches a tentative agreement to delay a pending tax on virtual assets. Crypto investors in next-door Japan already face taxation up to 55%.
Every morning at Upbit, the nation’s largest cryptocurrency exchange, a brief and odd surge in random altcoin prices takes place. Which crypto will it be tomorrow?
South Korean financial companies bring investors results a month after their metaverse exchange-traded funds were listed, with one fund gathering nearly $170M in net asset value.
Despite movement from both the ruling Democratic Party and the conservative party to delay the 20% virtual asset gains tax, South Korean finance minister still thinks it should start as planned for Jan. 1, 2022.
The country will follow global crypto guidelines in excluding non-fungible tokens (NFTs) from its categorization of virtual assets — meaning income from NFTs may remain untaxed in Korea.
Information Technology (IT) firms in South Korea set up shop in the realm of the metaverse, with their first step being non-fungible token (NFT) platforms.
It’s a red light for those who bought the controversial token inspired by the Netflix mega-series Squid Game, as its developers appear to have cashed out their investments, leaving SQUID’s price to plunge 99.99%.
The wild popularity of South Korean Netflix TV series Squid Game and K-pop boy band BTS prompt parody tokens in the crypto space under circumstances that are being called into question.
South Korean mobile game developer Netmarble to create a virtual K-pop idol group under partnership with internet giant Kakao group using meta-human technologies.
Kazakhstan blames its newly settled crypto miners for power shortages as South Korea’s largest exchange is accused of listing faulty tokens for profits.
A lawmaker claims Upbit earned hundreds of millions by listing sketchy cryptocurrencies, while the exchange rebuts that it follows fair and strict standards.
The country sees a rise in the amount of illegal currency transactions across the border while the use of virtual assets makes it almost impossible to track down.