South Korea is preparing to lift its ban on institutional cryptocurrency trading, signalling a significant shift in the country’s crypto market. The Financial Services Commission (FSC), South Korea’s top financial regulator, announced plans to collaborate with the Digital Asset Committee to phase in institutional trading, beginning with non-profits. Until now, only individual traders with verified accounts have been allowed to trade cryptocurrencies, as banks have been restricted from enabling institutional accounts.
The country is also eyeing broader modernisation of its digital asset landscape. Speaking at the Securities and Derivatives Market Opening Ceremony, Korea Exchange Chairman Jeong Eun-bo revealed plans to consider cryptocurrency spot ETFs by 2025, taking cues from global examples. He emphasised the exchange’s goal of expanding opportunities within the capital market.
Additionally, South Korea’s FSC is working on measures to enhance security in crypto investments. The introduction of the Virtual Asset Investor Protection Act last year demonstrates a commitment to safeguarding traders and enabling innovative tools like security token offerings.
The South Korean government has introduced a new digital system to track tax evaders’ cryptocurrency transactions. In a bid to crack down on tax evaders, the Gyeonggi tax department in South Korea
Wealth and corporate taxes remain a sticking point between countries at the United Nations negotiating the roadmap for a framework convention on tax, which could herald a radical shake-up of the global
Panama Papers Scandal: Twenty-seven people are set to go on trial on Monday for money laundering in connection with the “Panama Papers” tax evasion scandal, which revealed how many of the
India’s central GST intelligence authority — Directorate General of GST intelligence or DGGI — is learnt to have sent show cause notices (SCN) to 10 foreign airlines operating in India. Sources