South Korean Lawmaker Calls For Stronger Oversight As Suspicious Crypto Repor...
As the number of South Korean crypto investors surpasses the 10 million milestone, a lawmaker from the country’s ruling party has requested countermeasures to address the rising number of suspicious transaction reports (STRs) involving digital assets. Related Reading: Data Leak? Crypto.com Fires Back At ‘Unfounded’ Allegations Suspicious Activity Reports Hit Record High On Monday, Jin […]
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Lee Kwang-jae, a South Korean lawmaker, recently stated that he will be accepting cryptocurrency donations starting mid-January 2022. According to the politician, this plan represents his attempt to raise awareness about cryptocurrencies and non-fungible tokens among South Koreans.
Donations to Be Converted Into Korean Won
A Korean lawmaker, Lee Kwang-jae, has said he will start accepting cryptocurrency donations sometime in mid-January of 2022. According to the lawmaker, anyone that wishes to sponsor his campaign will be able to do so by directly transferring funds to his....
Public officials in South Korea are increasingly choosing career opportunities in the cryptocurrency sector. Some of them come from financial authorities which raises ethical questions, according to the findings of a Korean lawmaker, quoted by local media.
Former Financial Officials Hired by Major Korean Exchanges
A growing number of officials in Seoul are vacating their government posts and moving to the crypto industry, according to Roh Woong-rae, member of the Korean parliament from the ruling Democratic Party. On Sunday, he called for the introduction of stricter rules....
The executive power and the ruling party in South Korea have urged the cryptocurrency industry for what officials describe as voluntary regulatory measures, a Korean media report revealed. The call was issued during a consultative meeting devoted to crypto assets. Government Asks South Korean Crypto Sector for Regulatory Proposals Representatives of the South Korean government and the ruling People Power Party met on Monday to discuss issues related to the crypto space. The consultations were held in the aftermath of last month’s collapse of the terrausd (UST) algorithmic stablecoin....
“In a situation where the relevant taxation infrastructure is not sufficiently established, the deferral of taxation on virtual assets is not an option, but an inevitable situation,” said Noh Woong-rae. Noh Woong-rae, a member of South Korea’s National Assembly and a representative of the country’s ruling party, reportedly plans to postpone a bill clarifying the taxation of crypto until 2023.According to a Thursday report from Naver News, Noh said the Democratic Party of Korea plans to push back against the intention of South Korea’s Ministry of Finance to tax virtual assets starting in....
On Thursday, Nov. 3, 2022, local reports from South Korea disclosed that Korean prosecutors have allegedly discovered evidence that shows Do Kwon and an associate manipulated the price of LUNA, Terra’s native crypto token. The report further says South Korean prosecutors believe Kwon is hiding out in Europe. Local Report Claims South Korean Prosecutors Have Evidence of Do Kwon Ordering an Associate to Manipulate LUNA’s Price A report published by the local KBS News claims the co-creator of the Terra blockchain project, Do Kwon, is currently located in Europe. The news was discovered....