Tag: upbit

Korean Government: 11 out of 21 Crypto Exchanges Complete Security Measures

Security The South Korean government has announced the results of its review of 21 cryptocurrency exchanges. While several trades have finished implementing both short-term and pocket management steps, many security vulnerabilities stay at most niches. South Korea’s government has declared the result of its own inspection of 21 cryptocurrency exchanges. The review was conducted June […]

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Korea’s Crypto Exchanges are Backed by the Country’s Biggest Bank and Internet Firm

South Korea’s two largest crypto exchanges UPbit and Gopax are backed by the nation’s greatest financial institution and web firm Shinhan Bank and Kakao.Importance of Shinhan Bank’s InvolvementThe overwhelming majority of buyers in South Korea are already properly conscious that the nation’s main crypto exchanges are financed and operated by among the largest conglomerates in […]

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South Korea Plans to End Major Tax Benefits for Bitcoin Exchanges

Taxes The South Korean government has declared a new set of tax legislation amendments. Under this proposition, bitcoin exchanges will no longer be qualified for corporate and income tax deductions now appreciated by little and medium-sized companies. The authorities also have been contemplating imposing capital gains tax upon the sale of all cryptocurrencies. The South […]

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Only 12 out of 23 Korean Crypto Exchanges Pass Probe – Inspector Under Fire

Regulation The self-regulatory review of South Korean cryptocurrency trades is complete. Fourteen from 23 exchanges consented to be scrutinized. Twelve fulfilled the self-regulatory criteria despite safety defects, raising questions of how successful the review is. The Korea Blockchain Association (KBA) held a media conference Wednesday to declare the results of its review of cryptocurrency exchanges […]

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Bank of Korea: Financial Institutions’ Exposure to Crypto Risks Is ‘Insignificant’

An official record published by the Bank of Korea (BOK) demonstrated the exceptional balance of virtual accounts at local banks reached two trillion won (US$1. ) The amount, equal to approximately eight per cent of total deposits run by brokerage homes in South Korea, introduces an insignificant threat, according to the central bank. Bank of […]

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