Bitcoin ATM Hits Seoul, South Korea
In a Seoul shopping mall, a brand-new bitcoin ATM inside the Coffee Sedona establishment is making a splash. Why? Because it's the first two-way bitcoin ATM in South Korea. Quite simply, the machine allows users to insert fiat currency for bitcoin, and vice-versa. The machine is a joint venture between the Coinplug bitcoin exchange and Nautilus Kyosung, a company that manufactures traditional fiat ATMs (in fact, the most popular ATM manufacturer in the country). For users, this machine doesn't collect any identifying information (compared to the Robocoin ATM offering). Each transaction....
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Courtesy: blog.robocoinkiosk.com. A Robocoin bitcoin ATM is slated to hit the streets of Seoul, South Korea in the next few days. Operated by venture company BitcoinAsia, the machine is expected to arrive in the country by Friday, if things go according to plan. The ATM will bill undergo a government regulation certification process before it can officially be launched for public use. "We are excited to introduce the Bitcoin ATM to the most tech-savvy market in the world. Bitcoin is attracting public attention in Korea, and we want to take the Bitcoin awareness in Korea to the next level....
The government in South Korea has seized cryptocurrency worth around $184 million in two years due to tax arrears, according to local media. The authorities in Seoul started confiscating virtual assets from people accused of tax evasion in 2021.
Almost 260 Billion Won in Crypto Seized for Tax Evasion in South Korea
The amount of crypto assets seized from South Koreans accused of dodging taxation has reached almost 260 billion Korean won (close to $184 million at current exchange rates), the online editions Yonhap News and Maekyung unveiled on Thursday.
The reports....
Indonesia and South Korea are thinking about joining forces in an attempt to boost the FinTech industry to help the burgeoning sector in both countries, reports The Jakarta Post. Last month South Korea announced that it is going to introduce bitcoin regulations in 2017 as digital currencies continue to grow in the country. According to the report, bitcoin adoption has increased significantly in South Korea, amounting to 1.5 trillion won in transactions. It was recently reported that the South Korean government was pushing ahead with the system expansion of digital currency to promote the....
The Inside Fintech Conference and Expo is coming to Seoul, South Korea December 8-9, bringing an agenda filled with blockchain technology, cryptocurrencies, and financial technology. Inside Fintech Seoul, South Korea December 8-9. Rising Media, Inc. and 3DR Holdings have announced the Inside Fintech conference at the Korea International Exhibition Center....
The City of Seoul becomes the first city in South Korea to confiscate cryptocurrencies owned by tax delinquents. The city government of South Korea’s capital Seoul has announced the seizure of cryptocurrencies worth 25 billion won ($22 million) from individuals and company heads.According to a report by The Korea Times, the confiscated crypto came from people identified as tax delinquents by the city’s tax collection agency.As part of the investigation, the Seoul office of the National Tax Service identified 1,566 individuals and company heads with overdue taxes. The NTS office in Seoul....