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Witnessing the digital breakthrough
South Korea Prepares Amendments to Income Tax Act for Crypto Industry
Legislation   |   27.05.20  |  

Ministry of Economy and Finance of South Korea is preparing amendments to Income Tax Act to impose tax for profits from crypto business The South Korean Ministry of Economy and Finance is preparing amendments for the existing Income Tax Act. The amendment will affect the taxation of ...

ICON Launches Smart Contract Supporting Algorithm
Cryptocurrencies   |   10.04.20  |  

South Korean blockchain project ICON (ICX) launches new LFT 2.0 algorithm, which is a revolutionary version of PBFT The South Korean blockchain project ICON (ICX), which focuses on the interaction between independent blockchains, has launched a new ...

KT Corporation Launches Blockchain Platform to Store Contracts
Innovations   |   31.03.20  |  

A telecommunications company in South Korea launches a blockchain platform to store contracts. The platform allows users to create, distribute and store electronic contracts South Korea's largest telecommunications company, KT Corporation, is launching a blockchain platform to store ...

Crypto Exchanges Are At Risk Due To Regulation In South Korea
Legislation   |   13.03.20  |  

In South Korea, crypto exchanges will have to comply with strict banking rules, due to amendments to the current law on financial transactions. As a result, the number of exchanges can be reduced to 10 In South Korea, due to amendments to the current law ...

Bithumb Launches Blockchain R&D Center, First in South Korea
Exchanges   |   08.01.20  |  

... about 30 people, and it will begin its activities this month. Bithumb cryptocurrency exchange has created its own research and development center. This initiative makes Bithumb the first company with a blockchain and cryptocurrency research center in South Korea. About 30 people will be employed in the new R&D center, and it will start its activities this month. The Bithumb research group will study the design of the system architecture, analyze blockchains to isolate cryptocurrency trading transactions ...

Korean Stablecoin Terra Gains Popularity amid Partnership with CU Retailer
Cryptocurrencies   |   25.12.19  |  

The popularity of the cryptocurrency, acting as a payment system for the CU retail network, may indicate growing recognition Korean stablecoin Terra showed a sharp spike in volume, an increase of 280%. The popularity of the cryptocurrency, acting as a payment system, may indicate growing recognition. Winter is here and ecommerce volumes are through the roof. @terra_money saw 11 BILLION KRT (korean won pegged stablecoin), roughly valued at 10M USD yesterday. 17.4% annualized staking return from...

South Korea Prepared a New Bill to Regulate Digital Assets
Legislation   |   27.11.19  |  

South Korea's National Policy Committee passed a bill according to which cryptocurrencies are classified as digital assets The South Korean National Policy Committee, which is a department of the National Assembly of the country, passed a bill according ...

Samsung SDS to Launch Blockchain Insurance Network in South Korea
Innovations   |   17.10.19  |  

Samsung SDS, an IT solutions developer, partly owned by a South Korean conglomerate, plans to deploy a blockchain-based claims processing system Samsung SDS, an IT solutions developer, partly owned by a South Korean conglomerate, plans to deploy a blockchain-based claims processing system. Samsung SDS Vice ...

South Korean Bank KB Kookmin Introduces Blockchain in Internal Operations
Innovations   |   08.10.19  |  

The bank stated that blockchain offers many advantages for the financial industry, including the issuance of digital tokens, financing, custodial services and trading Major South Korean Bank KB Kookmin plans to integrate blockchain technology into its internal processes, according to a local news agency Korea JoongAng Daily. The bank said the blockchain offers many benefits to the financial industry, including the issuance ...

Crypto Turmoil In South Korea: Exchanges Struggle To Survive
South-korea   |   26.08.19  |  

A research paper recently revealed that 97% of the crypto exchanges located inside the country are on the brink of collapsing and spiraling into bankruptcy Cryptocurrencies in South Korea are in a kind of dismay. A research paper recently revealed that 97% of the crypto exchanges located inside the country are on the brink of collapsing and spiraling into bankruptcy. The paper blames low trading volume for these indicators,...


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