News

South Korea to consider regulatory framework for digital currencies

Wednesday 5 July 2017 00:09 CET | News

South Korea representatives have revealed the plans of legislative changes for the digital currencies market.

The amendment to the Electronic Financial Transactions Act envisages that brokers, or other business entities involved in cryptocurrency transactions would be required to get regulatory approval from the Financial Services Commission.

In addition, revisions to the laws on income tax and corporate tax would allow financial authorities to tackle tax evasion from the digital currency transactions.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: digital currency, cryptocurrency, South Korea, online transactions
Categories: DeFi & Crypto & Web3
Companies:
Countries: World
This article is part of category

DeFi & Crypto & Web3






Industry Events