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South Korea

Blockchain-based COVID-19 vaccine passports coming to South Korea
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10 April, 2021

Blockchain-based COVID-19 vaccine passports coming to South Korea

Prime Minister Chung Sye-kyung said the vaccine passport is built on blockchain technology to ensure security from possible identity theft.
South Korea new AML rules for digital currency comes into effect
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26 March, 2021

South Korea new AML rules for digital currency comes into effect

Senior officials in South Korea have approved measures that will introduce a raft of new anti-money laundering provisions for digital...
Naver joins Morgan Stanley, Visa and JPMorgan in eyeing Bithumb stake: report
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25 March, 2021

Naver joins Morgan Stanley, Visa and JPMorgan in eyeing Bithumb stake: report

South Korea’s biggest internet company Naver has joined the race to acquire a stake in Bithumb digital currency exchange.
OKEx Korea to shut down on April 7, cites new AML rules
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24 March, 2021

OKEx Korea to shut down on April 7, cites new AML rules

The revised Financial Transactions Reports Act prohibits order book sharing, stating, “Cryptoasset providers may not allow customers to trade with...
South Korea authorities to do more to tackle digital currency tax evasion
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18 March, 2021

South Korea authorities to do more to tackle digital currency tax evasion

The National Tax Service has identified some 2,400 suspected tax evaders relying on digital currencies to hide their assets, thought...
South Korea’s Shinhan Bank trials new digital currency platform
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15 March, 2021

South Korea’s Shinhan Bank trials new digital currency platform

Shinhan Bank is hoping to collaborate with the central bank with the blockchain-powered platform, in order to assist with the...
South Korea digital currency exchanges to face penalties for anti-money laundering breaches
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14 March, 2021

South Korea digital currency exchanges to face penalties for anti-money laundering breaches

The Financial Services Commission has brought forward a new structure of penalties for exchanges that fail to properly implement anti-money...
Bithumb ramps up anti-money laundering protections
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12 March, 2021

Bithumb ramps up anti-money laundering protections

The new measures include enhanced Know-Your-Customer verification processes, as well as the introduction of new specialized blockchain intelligence technologies.
South Korea’s K Bank aims for digital currency-fueled IPO in 2022
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7 March, 2021

South Korea’s K Bank aims for digital currency-fueled IPO in 2022

The South Korean startup bank is said to be experiencing rapid growth from its services, which senior executives think could...
South Korea back on track to roll out 20% digital currency tax by 2022: report
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26 February, 2021

South Korea back on track to roll out 20% digital currency tax by 2022: report

South Korea is reportedly bringing forward—yet again—plans for a tax on digital currency profits, which will see gains liable to...
Bitcoin SV joins Bithumb’s ‘7th Anniversary Airdrop Party’
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22 February, 2021

Bitcoin SV joins Bithumb’s ‘7th Anniversary Airdrop Party’

Bithumb, considered to be one of the top digital currency exchanges in South Korea, is giving away free Bitcoin SV...
South Korean giant Hanwha takes minority stake in Upbit
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9 February, 2021

South Korean giant Hanwha takes minority stake in Upbit

In a deal reported to be worth $52 million, Hanwha has invested through its brokerage arm, which will acquire 2.06...