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south korea is planning to amend current tax legislation in order to boost blockchain startups
**The government of south korea announced its plans to amend current tax rules in the part that concerns innovative companies – including, but not limited to, blockchain and crypto startups.** During a meeting of ministers from government agencies, a decision was made to expand tax benefits for companies that focus their research and development (R&D) on modern technologies. This move was ma...
Path: Blogsouth korea enforcing crypto rules
**Although south korea is one of the main crypto exchange markets with exchanges holding about $1.9 billion worth of virtual currencies, there were no relevant regulations to this day.** After years of deliberations, the country has finally specified the legal framework for cryptocurrency. **The National Assembly of south korea has passed a bill establishing a legal foundation for virtual cur...
Path: Blogsouth korea to tax capital gains on crypto
Crypto taxation is one of the hottest topics of debate globally. And while most of the countries keep on discussing the opportunities of crypto taxation, south korea takes the initiative into own hands. **The Ministry of Economy and Finance of south korea has decided to tax earning from crypto-related profits by imposing capital gains tax on virtual currencies.** According to government sourc...
Path: Blogsouth korea is planning to establish Crypto-Focused Bureau
**Korea Financial Intelligence Unit (KFIU) will also set up a ‘Policy Management Planning Division’ as a part of the brand-new bureau launch.** The Financial Service Commission (FSC), a south korean financial watchdog, announced on Thursday that it would set up an independent bureau that seeks to address all crypto-related matters in the south korea.According to media-outlet ‘The Korea T...
Path: BlogCrypto aspirations: North Korea is holding cryptocurrency conferences
...approval, of course). As the conference is international, restrictions have been softened: internet access will be available, digital devices will be allowed and even the US citizens are welcome. Although not without exceptions, citizens from Japan, south korea, and Israel will not be admitted. Alejandro Cao de Benós, the president of the Spanish Korean Friendship Association that organizes th...
Path: Blog