South Korea Unveils Guideline for Regulating Cryptocurrencies as Securities South Korean authorities plan to define cryptocurrencies within a regulatory framework. Lawmakers announced plans to regulate blockchain-based tokens as securities. Regulations are currently in preparation for digital assets that aren’t securities. The agency will submit a proposal that reflects these developments by the first half of
South Korea established guidance that specifies which types of digital assets will be considered and regulated as securities in the country. In a press release, the Financial Services Commission (FSC) highlighted that digital assets that fit the characteristics laid out in the country’s Capital Markets Act will be treated as securities. Continue Reading on Coin
2/2 © Reuters. FILE PHOTO: The logo of the Bank of Korea is seen on the top of its building in Seoul, South Korea, March 8, 2016. Picture taken on March 8, 2016. REUTERS/Kim Hong-Ji/File Photo 2/2 SEOUL (Reuters) – South Korea’s central bank said it renewed on Monday a currency swap agreement with its
South Korean Prosecutors Arrest Bithumb Executive Over Misappropriation of Funds South Korean prosecutors have arrested Kang Jong-hyun, the alleged owner of Bithumb. Besides Jong-hyun, other executives of Bithumb are under investigation. Jong-hyun and his brother were accused of mismanaging funds and manipulating share prices. The South Korea National Tax Service launched an investigation into Bithumb.
© Reuters. Brazil’s President Luiz Inacio Lula da Silva sits with Argentina’s President Alberto Fernandez and Brazil’s Finance Minister Fernando Haddad, as they attend a meeting with Brazilian and Argentine business representatives, at the Casa Rosada presidential p By Rodrigo Campos NEW YORK (Reuters) – South America is not likely to have a common currency
South Africa’s Advertising Regulatory Board (ARB) has included a new clause for the cryptocurrency industry aimed at protecting consumers from unethical advertising. Companies and individuals in South Africa must abide by certain advertising standards pertaining to the provision of cryptocurrency products and services in a new clause introduced to Section III of the country’s advertising
South Korea Goes After Bithumb for Another Tax Evasion Scandal Bithumb Holdings comes under federal probe for suspected tax evasion.The current probe is the second time Bithumb has been subject to a tax investigation.Bithumb ranks among the top 10 crypto exchanges with a 6.1 rating. South Korean tax authorities are looking into the business operations
The South Korea-based cryptocurrency exchange Bithumb is under a “special tax investigation” by the country’s National Tax Service (NTS), according to local reports. On Jan. 10, tax agents raided the exchange’s headquarters in the country’s capital city Seoul as a part of a compliance investigation. Authorities are verifying the possibility of tax evasion by examining
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