South Korean prosecutors indicted on April 25 Terraform Labs co-founder Shin Hyun-seung on allegations of fraudulent transactions related to the company’s cryptocurrency project.
The first phase of review for South Korea’s legislation on how to regulate digital assets was passed on Tuesday in the country’s National Assembly.
South Korean prosecutors have raided a payments company founded by Terraform Labs co-founder Daniel Shin.
The South Korean city of Busan has just signed an agreement with crypto exchange FTX.
Cryptocurrency exchanges operating in South Korea must obtain licenses by September 24 to operate legally in the country.
The income tax rate for crypto traders, which will come into force not from 2023, but from 2025, should be 20%.
The authorities in South Korea intend to establish a temporary Digital Assets Committee after the collapse of the Terra ecosystem.
