SOUTH-KOREA

Korea's National Assembly proposed a delay in the crypto tax rule to push the implementation to January 2022.

The new law will come into effect in March 2021.

The exchange was raided three times earlier this month.

The exchange allegedly committed fraud by issuing its native BXA tokens.

The exchange generated an income of $85 million from market manipulation.

The news follows the recent announcement by the United States OCC that US banks can begin offering crypto custody ...

The new law will come into effect from October 1, 2021.

The company’s attempt to publicly list its shares on a US exchange failed last year.

Bank of Korea also launched a pilot program to test CBDC.

Latest data reveals the growing activity of traders in many fields

The exchange underwent various changes including restructuring of its business and fees.

With the pilot, the regulator will access both technical and legal prospects of digital won.

The exchange will open trading services on April 4 followed by the initiation of withdrawals on April 9.

This might change the crypto landscape in the country.

The government will loosen the foreign exchange liquidity coverage ratio for banks.

The country recently regulated the exchanges, mandating their exchanges to register with the KISA

As traders flock to the USD, South Korea is trying to address the mismatches in dollar liquidity.

This mandates licensing for operating crypto exchanges.

The companies will extend their partnership in the future.

The South Korean exchange is expecting to bolster its global presence with this partnership.

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