South Korea Set To Unveil New Stablecoins Framework In October
South Korea’s financial authority is expected to release the long-awaited regulatory framework next quarter, offering clear guidelines for the issuance and distribution of won-pegged stablecoins. Related Reading: Crypto Clampdown: South Korea’s Jeju City Goes After Suspected Tax Evaders Stablecoin Guidelines By October On Monday, local news media outlets reported that South Korea’s financial regulator, the […]
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In early 2022, South Africa will have a new regulatory framework that covers cryptocurrencies, a commissioner with a regulatory body has said.
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South Africa’s financial sector regulator, the Financial Sector Conduct Authority (FSCA) is set to unveil a new regulatory framework that covers cryptocurrency in early 2022.
According to Unathi Kamlana, a commissioner with FSCA, the new framework will determine how the trading of crypto coins like bitcoin (BTC) should be conducted. In his remarks during an interview, Kamlana suggested his....
The postponement follows a successful lobbying campaign by local crypto advocates. The South Korean government has officially postponed a new tax regime on cryptocurrency gains until 2022.According to Yonhap on Dec. 1, the planning and finance committee of South Korea’s national assembly passed amendments to the country’s tax laws wherein a new cryptocurrency tax regime will come into effect in January 2022.On Nov. 25, the legislature suggested delaying the adoption of a cryptocurrency income tax rule to Jan. 1, 2022 instead of October 2021.The decision will provide local crypto businesses....
The South Korean Democratic Party has called for the formation of a Bitcoin reserve in their country as a response to Trump’s announcement of a US Bitcoin reserve. With nations racing to hoard Bitcoin, the price of $BTC can only rally. If you want to get in on that action, it could be worth checking out a meme coin designed to ride on Bitcoin’s coattails, BTC Bull Token ($BTCBULL). South Korea Takes Cue from the US Just two days back, Trump signed an executive order to set up a Bitcoin reserve in the US, calling it the ‘digital Fort Knox for digital gold.’ He also laid....
A Korean translation of the EU regulatory framework gave the Bank of Korea food for thought, and it shared its views on ICOs, stablecoins and protecting innovation. The South Korean central bank has indicated that initial coin offerings (ICOs) will be allowed under the Digital Assets Framework Act, according to a local news report. That comprehensive legislation is expected to be introduced in 2023 and implemented the following year. The Bank of Korea (BOK) discussed ICOs in comments to a Korean translation of the European Union’s Markets in Crypto-Assets (MiCA) legislation released....
In a move that will see South Korea become even more crypto-friendly, President Yoon has announced his intention to establish a new regulatory framework for the crypto industry by 2024. With this new legislation in place and increasing demand for cryptocurrency services across all areas of commerce, it seems likely they can pull off another […]