South Korean Government Announces Crackdown on Illicit Crypto-Related Transac...

South Korean Government Announces Crackdown on Illicit Crypto-Related Transac...

Adding to the South Korean cryptocurrency industry’s stricter regulations, the central government is focusing on the “crackdown” of illegal crypto transactions. A meeting over the week held with high-ranked politicians resulted in a campaign that will soon be deployed. Government Seeks International Help to Monitor International Crypto Exchanges According to Chosun, the South Korean Government met with politicians, law enforcement, and financial watchdog authorities to take down illicit transactions from what they named an “overheated market.” The meeting was....


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Production of $2.7 Million-per-Episode: South Korean Crypto-Related TV Drama ...

A major South Korean TV series with crypto and blockchain-related topics is set to launch its production stage at the beginning of 2021, directed by Gemstone Film, in collaboration with firms in China and the United States. South Korean Crypto-Related TV Drama Series ‘Pumping Time’ Is Set to Start in 2021 According to Financial News, “Pumping Time,” the tentative name for the drama series, is planned for a total of 10 seasons with 20 episodes per each one. The producers estimate that each episode will have a duration of 30 minutes. Gemstone Film will allocate an....

South Korean Ministries ‘Do Not Want’ to Take Charge of Crypto-Related Regula...

The crypto regulation crisis is on fire in South Korea, as politicians have struggled to reach agreements with top government officials to ease rulings. A local media outlet reveals that South Korean ministries “do not want” to take charge of the country’s digital assets’ regulation, after several meetings held in the last few days. Prime Minister Took Part of the ‘Crypto Summit’ According to SBS, lawmakers held some meetings over the weekend at Prime Minister Kim Bu-gyeom’s office as part of “crypto summits” to address regulatory....

South Korean Financial Regulator Confirms Privacy Coin Delistings- Adds New G...

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South Korean Government Seeks to Regulate International Remittances Related t...

The famous gap in cryptocurrency prices in South Korean crypto exchanges and overseas ones known as “kimchi premium” raises some concerns among the nation’s government. The latest reports suggest that the country is planning to regulate international remittances tied to kimchi premium-driven transactions. Remittances to Exploit Kimchi Premium Could Be Flagged as Money Laundering According to Maeil Kyungjae, South Korea’s government has found that some domestic investors actively send their fiat abroad to buy crypto from sellers in China. The maneuver allows these....

South Korean Politicians Won’t Be Required to Disclose Their Crypto Holdings ...

South Korean politicians won’t be required to disclose their crypto holdings or crypto-related earnings as no fewer than three cryptocurrency-related bills failed to pass the National Assembly. Proposal Submitted in November 2020 According to the Electronic Times, the bills aimed to require lawmakers and senior public servants to report all their cryptocurrency holdings and their trading profits, which raised controversy amongst the political sphere. The proposal was submitted in November 2020 by Min Hyung-bae, a lawmaker of the ruling Democratic Party of Korea and a parliamentary....