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Terraform Labs and its co-founder Do-Hyung Kwon have reached a preliminary agreement on disgorgement and penalties related to the collapse of the cryptocurrency Terra-Luna. According to the U.S. District Court for the Southern District of New York, Terraform Labs, Kwon,…
If you had an overseas financial account balance exceeding KRW 500 million last year, you must report it to your local tax office by July 1. This requirement includes assets such as cash, stocks, and virtual assets, with offshore virtual…
The U.S. Securities and Exchange Commission (SEC) has approved an Ethereum spot ETF, following the approval of a Bitcoin spot ETF. However, this will not be available in South Korea due to current laws that prohibit spot ETFs for virtual…
In the second half of last year, domestic cryptocurrency investors in South Korea transferred KRW 25.3 trillion to overseas exchanges. This surge was driven by improved market conditions, which prompted investors to trade newly emerged virtual assets unavailable in Korea…
Korea’s cryptocurrency market has seen a significant growth of 53% in market capitalization over six months, reaching 43.6 trillion won by the end of December 2023. This growth is driven by rising cryptocurrency prices and improved investor sentiment. Transaction volume…
The Personal Information Protection Commission is wrapping up its investigation into Worldcoin, a controversial cryptocurrency that collects personal data like face and iris recognition. The results are expected to be released as soon as next month. The commission initiated the…
The trading volume on South Korea’s cryptocurrency exchanges has dropped by one-fifth in two months, with the latest 24-hour trading value totaling 2.699 trillion won. This is significantly lower than the 12.99 trillion won recorded when Bitcoin surpassed the $100…
Korean Prosecutors’ Office retrieved a deleted e-wallet belonging to a suspect accused of fraud and embezzlement, seizing Ethereum worth 7.6 billion won ($7.6 million). The suspect, A, allegedly defrauded 156 victims of 14.6 billion won in investment funds and embezzled…
Bithumb, a South Korean cryptocurrency exchange, is restructuring its operations by creating a dedicated M&A organization. This move coincides with the division of Bithumb Korea to concentrate on new ventures. Analysts speculate that this restructuring aims to enhance corporate value…
Legislation in the UK now permits swift freezing and seizure of cryptocurrencies linked to criminal activities. This measure aims to expedite the apprehension of cryptocurrency criminals by introducing a “fast-track” process for investigations. The UK Home Office has enacted a…
