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  • InvestmentPhoto of Hashed, a Korean cryptocurrency investment business, is being investigated for tax evasion

    Hashed, a Korean cryptocurrency investment business, is being investigated for tax evasion

    According to local media, South Korea‘s tax department investigates crypto investment business Hashed. According to local media, the National Tax…

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  • InvestmentPhoto of Polygon rallies 25% following listing on Upbit, daily transactions decline over 50% following gas fee spike

    Polygon rallies 25% following listing on Upbit, daily transactions decline over 50% following gas fee spike

    Polygon (MATIC) is now listed on Korean exchange Upbit, bringing the altcoin’s price 25 percent up.The network’s daily transaction volume…

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  • EventPhoto of Binance Korea shuts down eight months after launch

    Binance Korea shuts down eight months after launch

    Binance subsidiary in Korea is shutting down, barely eight months since it launched. The exchange cited low trading volume as the…

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  • Korean blockchain lobby calls for crypto tax plan to be put on ice

    The Korea Blockchain Association wants the government to postpone the implementation of its new tax framework until 2023. The Korea…

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  • EventPhoto of South Korea’s central bank is on track to test digital currency next year

    South Korea’s central bank is on track to test digital currency next year

    The Bank of Korea, the central bank of South Korea, is expected to test the virtual money for pilot payments…

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  • HotPhoto of BMW Korea Goes Blockchain: Reward Program Inbound

    BMW Korea Goes Blockchain: Reward Program Inbound

    BMW Korea has announced plans to launch a blockchain-based reward program that will award buyers with discounts on vehicle maintenance…

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  • CoinPhoto of Bithumb Crypto Exchange May Be Up for Sale at $430M

    Bithumb Crypto Exchange May Be Up for Sale at $430M

    South Korean crypto exchange behemoth Bithumb may be put up for sale once again as the platform navigates a police…

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  • NewsPhoto of Regulators in South Korea are not enthusiastic about Ethereum NFTs

    Regulators in South Korea are not enthusiastic about Ethereum NFTs

    In recent weeks, if you happened to drop by the crypto space on social media, NFTs, short for non-fungible tokens, look like the new Ethereum-based assets that are gaining popularity and price steadily.  And although NFTs are currently attracting both staunch supporters and critics in equal measure, particularly in their current iteration of being tokenized or an in-game asset, their regulatory function remains as yet an untouched, uncharted field. A recent study from South Korea, however, may shed some light on that particular aspect, with the regulators of the country remaining largely wary of the NFT space and even passing judgment to disallow a local blockchain game from distributing its NFTs to users.  Delays … and more delays The Korean “Game Management Committee” is allegedly delaying the ranking and licensing of all blockchain games produced in the country, as per inews24. This is despite Korea seeing blockchain technology as the country’s future job creator and even launching a $400 million fund dedicated to such technology, such as AI. The creators of the blockchain game “Five Stars” were told by the Committee last month on August 18 that the ranking of the game was postponed for a few days until August 21. They had applied in July and had the tentative date for a game analysis on August 17, which did not take place. Image: SkyPeople When August 21 arrived, however, the developers were informed that the analysis had been fully halted.  Normally, from start-to-end, such ratings take a total of 15 days. But they were indefinitely postponed with the blockchain involved, the study said.  SkyPeople, the creators of the title, said, “There is no issue with general in-game content that does not use the blockchain due to the Title Committee’s deferment of this ranking.”  They added that: “In fact, it is highly probable that it will…

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