South Korean prosecutors have requested the death penalty for four suspects in a crypto murder-kidnap case that saw a woman abducted and murdered for her crypto holdings. The incident took place in the affluent Gangnam District in Seoul in March this year. The woman is believed to have worked at a crypto-related firm and held…
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Data from a new South Korean tax report has revealed details of hundreds of crypto whales with millions of USD worth of coins on overseas crypto exchanges. New tax rules that came into force this year require crypto holders to declare their holdings on foreign crypto platforms…. Read More: Tax Report Unveils Hundreds of South…
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A convicted South Korean crypto fraudster has been sentenced to seven years in prison. Per Newsis and Segye Ilbo, a division of the Suwon District Court sentenced an unnamed individual in their 30s to jail after hearing how they defrauded victims of some $2.2 million. The court heard that the individual, identified only as “A”…
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South Korea’s virtual asset market has experienced a significant surge during the first half of 2023, reaching a total market cap of $21.1 billion. The Financial Services Commission (FSC) of South Korea revealed that the country’s crypto market cap witnessed a 46% increase compared to the previous half-year term, local media outlets reported. … Read More:…
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South Korean debt collectors are now seizing crypto in insolvency cases – and may soon be granted even more power to confiscate coins. Per Hanguk Kyungjae, the Korea Deposit Insurance Corporation (KDIC), a firm that operates under the Financial Services Commission (FSC), has begun “seizing cryptoassets for the first time” this year. The KDIC typically…
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South Korea’s central bank, the Bank of Korea (BoK), is set to embark on a wholesale central bank digital currency (CBDC) test in collaboration with the Bank for International Settlements (BIS) and other key institutions, the BOK announced on Wednesday. The pilot project aims to assess the feasibility of building a future monetary system for…
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The South Korean central bank has set a date for its “real-world” CBDC pilot, with the first citizens slated to use the coin in the fourth quarter of FY2024. Per the broadcaster KBS, the Bank of Korea (BOK) will team up with the country’s top financial regulators – the Financial Services Commission (FSC) and the…
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The South Korean video games giant Netmarble has made a blockchain gaming breakthrough with its subsidiary’s coin set to be listed on the Japanese crypto exchange Zaif. Per Yonhap, the coin, MarbleX’s MBX, will be listed on the platform on October 11. MarbleX is Netmarble’s blockchain gaming arm. The coin will become the first token…
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The pilot will include private banks and public institutions, while the Bank for International Settlements (BIS) will provide expert technical support. South Korea joins a growing number of nations launching central bank digital currency (CBDC) pilot programs. The country’s central bank, the Bank of Korea (BOK), will launch the pilot project to explore the technical…
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Japan is aiming to become a crypto and Web3 “powerhouse,” South Korean analysts and experts believe – but some think Seoul still has what it takes to surpass Tokyo. Per Chosun Ilbo, South Korea’s biggest newspaper, Seoul-based crypto firms are concerned by the Japanese government’s proactive Web3-fostering policies…. Read More: Japan May Become ‘Crypto El…
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