More than half of Koreans have shown significant support for the planned cryptocurrency tax regime in the country, a survey showed on Monday.
South Korea's FSC has ordered its employees to file reports on their crypto investments in accordance with its code of conduct.
South Korean cryptocurrency exchange Daybit will voluntarily shut down its operations due to the toughened AML law, the company said Sunday.
The South Korean government has reportedly seized around $22 million in cryptos from 676 of the alleged tax evaders in the city of Seoul.
The government of South Korea is planning to introduce strict regulations to thwart illegal operations involving cryptocurrencies.
Bitcoin price on the Korean crypto exchange Bithumb reaches $66,000, 12% higher than the cost of cryptocurrency on European exchanges.
South Korea's tax authority is going after people who hide their assets in cryptocurrencies to avoid paying taxes.
South Korean crypto exchanges that don't take extensive data collection and identity verification measures could be subject to heavy fines.
The Seoul Metropolitan Police Department has filed crypto market manipulation charges against the executives of Coinbit crypto exchange.
South Korea's National Assembly has proposed a delay in the crypto tax rule to push the implementation to January 2022.