South Korea’s KB Financial Completes Stablecoin Pilot As Lawmakers Press For ...
South Korea’s KB Financial has completed a Proof-of-Concept (PoC) for won-denominated stablecoin as lawmakers and experts push to advance the country’s digital asset framework. Related Reading: Hacker Drains $11.58 Million From Verus-Ethereum Bridge KB Stablecoin Pilot Cuts Fees, Speeds Transfers On Sunday, KB Financial Group, the parent company of South Korea’s largest bank, announced that […]
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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 […]
Visa has announced an expansion for its stablecoin pilot, with the payments processing giant adding Arc, Polygon, and three other blockchains. Visa Has Added Five New Blockchains To Its Stablecoin Pilot As revealed in a press release, Visa has expanded its global stablecoin settlement pilot with five new blockchains. The pilot enables issuers and acquirers […]
In an announcement today, South Korea’s Financial Services Commission (FSC) – the country’s primary financial regulatory and authority – has revealed its plan to launch a blockchain-powered pilot project for financial services this year. While details are scarce, a report by local publication Korea Herald points to implementing blockchain technology as the core infrastructure for a sweeping financial services platform. The announcement comes just over a month after the formation of South Korea’s first blockchain consortium. A group of 21 financial investment companies and five blockchain....
South Korea is kicking off a pilot that will replace government expense credit cards with blockchain‑based deposit tokens. Blockchain Goes TradFi? The Ministry of Finance and Economy announced on an official press release that the pilot project for the execution of national treasury funds using blockchain‑based digital currency has been approved. This new official venture […]
Opposition lawmakers are seeking a one-year delay in the enactment of the law as well as a lowering of the tax burden on crypto traders. Lawmakers belonging to South Korea’s opposition People Power Party have prepared a fresh challenge to the planned crypto tax law.According to The Korea Herald, opposition lawmakers are advocating for a one-year extension to the start of crypto taxation in the country.As previously reported by Cointelegraph, South Korea’s crypto tax regime that will see the imposition of a 20% levy on cryptocurrency gains above 2.5 million Korean won ($2,100) will come....