South Korea To Review Seized Crypto Custody Practices After Recovery Phase Le...
South Korean financial authorities have pledged to revise their crypto custody practices following public scrutiny over multiple incidents that led to the loss of nearly $30 million in seized digital assets over the past few months. Related Reading: War With Iran May Spark Federal Reserve Intervention, Arthur Hayes Says Authorities Move To Enhance Crypto Custody […]
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Sanae Token, a Solana based token, has crashed roughly 75% from its peak after Japan’s Prime Minister Sanae Takaichi’s denied her involvement with it. Related Reading: South Korea To Review Seized Crypto Custody Practices After Recovery Phase Leak Incident Another Politician Under The Memecoin Fenzy On a post made through the X social network on […]
Kraken, the US’s second-largest crypto exchange, has reportedly secured access to the Federal Reserve’s (Fed) core payment systems, marking a significant milestone as the first crypto firm to operate on the same infrastructure utilized by thousands of banks and credit unions. Related Reading: South Korea To Review Seized Crypto Custody Practices After Recovery Phase Leak […]
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....
South Korean regulators have announced an inspection of local crypto exchanges and improved measures to address regulatory “blind spots” following Bithumb’s $40 billion Bitcoin (BTC) payment error. Related Reading: Crypto Alert: 2 Victims Lose Over $60M In Address Poisoning Scam New Task Force To Review Crypto Exchanges’ Practices On Monday, South Korean financial authorities announced […]
The South Korean central bank is on track with its CBDC pilot program, but still insists it has no current plans to launch. The South Korean central bank announced on Oct. 7 that it will begin the distribution phase of its central bank digital currency, or CBDC, pilot scheme next year.This will see the digital won enter circulation, with financial institutions getting involved in the distribution and transactions being recorded to the blockchain, according to an article in local media outlet The Korea Herald.As Cointelegraph reported, Bank of Korea's 22-month CBDC pilot scheme launched in....