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Singapore FinTech Association Enabling the Shift Towards Innovation & Entrepreneurship in Southeast Asia

The Singapore FinTech Association (SFA) was founded in November 2016 by President Chia Hock Lai and a group of industry and community leaders. The association is a cross-industry nonprofit initiative, aiming to facilitate collaboration in the ecosystem between market participants and stakeholders in the FinTech industry. Blockchain.News interviewed Chia Hock Lai to find out more about the leading … Continue reading Singapore FinTech Association Enabling the Shift Towards Innovation & Entrepreneurship in Southeast Asia

South Korean Advocates for Institutionalization of Cryptocurrencies via Bitcoin Derivatives

A South Korean commission dubbed the Fourth Industrial Revolution Commission has proposed that the government ought to permit financial institutions to establish cryptocurrency-based products, such as Bitcoin derivatives. As reported by Business Korea on Jan. 6, the presence of Bitcoin derivatives will be instrumental in the long-term institutionalization of cryptocurrencies.  The Growth of Digital Finance … Continue reading South Korean Advocates for Institutionalization of Cryptocurrencies via Bitcoin Derivatives

South Korea’s Jeju Island Leverages Blockchain to Curb Depleted Electric Vehicle Batteries

Jeju Island’s government representatives have revealed that a blockchain-powered electric vehicle waste-battery distribution management system has been implemented based on multi-year support. The island is categorized under South Korea’s special self-governing zones. The blockchain-based management system will track the history of receipts of waste-batteries acquired at the Jeju Technopark Electric Vehicle Battery Industrialization Center opened … Continue reading South Korea’s Jeju Island Leverages Blockchain to Curb Depleted Electric Vehicle Batteries

South Korea Contemplates Imposing 20% Tax on Cryptocurrency Proceeds

The South Korean administration might consider categorizing proceeds from cryptocurrency transactions as other income that is subjected to 20% tax, such as prize-winning or lottery. As reported by the Korea Times, the income tax department under the Ministry of Economy and Finance recently started reviewing taxation plans for gains from cryptocurrency transactions.  This role was previously … Continue reading South Korea Contemplates Imposing 20% Tax on Cryptocurrency Proceeds

How to Buy Bitcoin Cash in South Korea: Bitcoin.com and Mecon Cash Will Enable BCH Withdrawals at ATMs

A strategic partnership between Bitcoin.com and Mecon Cash made it possible for Bitcoin Cash to be added to Mecon Cash’s M.Pay platform which has over 13,000 ATMs in South Korea, thereby making the withdrawal of BCH to South Korea nationals easy especially in places that are yet to integrate peer-to-peer electronic cash transactions. Bitcoin.com Executive … Continue reading How to Buy Bitcoin Cash in South Korea: Bitcoin.com and Mecon Cash Will Enable BCH Withdrawals at ATMs

South Korean Tax Specialists Advocate for Lowered Crypto Taxation

Members of the Korean Tax Policy Association are calling on the government to consider applying a low-level tax on crypto transactions. The South Korean administration is contemplating taxing cryptocurrencies as part of its tax reform plan for 2021, but specialists feel it requires in-depth conceptualization. The perplexing issue of crypto taxation  The tax experts aired … Continue reading South Korean Tax Specialists Advocate for Lowered Crypto Taxation

South Korea Passes Comprehensive Law Officially Legalizing Cryptocurrency Trading And Holding

A day after India’s Supreme Court lifted the ban on cryptocurrencies, South Korea’s National Assembly followed suit and has amended the Act on Reporting and Use of Specific Financial Information. As reported on March 5, this move fully legalizes cryptocurrencies in South Korea. Momentous amendment Following the passage of the amendment by the South Korean … Continue reading South Korea Passes Comprehensive Law Officially Legalizing Cryptocurrency Trading And Holding

South Korea’s Leading Crypto Exchanges Aid Police in Hunting "Nth Rooms" Blackmail Porn Members

The four primary crypto exchanges in South Korea, namely Coinone, Korbit, Bithumb, and Upbit, have reportedly offered to help police investigate the sexual exploitation of underage girls in the “Nth Rooms” scandal that has sparked a national outcry.  Crypto exchanges table vital information The sexual exploitation of underage school-going girls in South Korea has been … Continue reading South Korea’s Leading Crypto Exchanges Aid Police in Hunting "Nth Rooms" Blackmail Porn Members

South Korea’s Largest Bank Reveals Crypto Custody Service Filing and Potentially Even More Crypto Services to Come

The largest bank in South Korea, KB Kookmin Bank has revealed its filing of a trademark application for KB Digital Asset Custody (KBDAC), its crypto custody service. The crypto custody service will be made available for assets including Bitcoin (BTC) and Ether (ETH). The trademark application was filed with the Korean Intellectual Property Office, as … Continue reading South Korea’s Largest Bank Reveals Crypto Custody Service Filing and Potentially Even More Crypto Services to Come

South Korea’s Central Bank Launches Central Bank Digital Currency Pilot Program in Case of Future Necessity

South Korea’s central bank recently announced that it has launched a pilot program assessing the issuance of a central bank digital currency (CBDC). The Bank of Korea has stated that there are no immediate plans to launch a CBDC, however, the pilot program will allow the central bank to be prepared in the future if … Continue reading South Korea’s Central Bank Launches Central Bank Digital Currency Pilot Program in Case of Future Necessity

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