Investors who receive freely transferable cryptocurrencies- gift, including airdrops, will be subject to a current tax imposed by the South Korean government, with rates ranging from 10% to 50%. The airdrops will be examined by regulators on a case-by-case basis.
Author: hassan
hassan
Hassan Shittu contributed to Blockchain Journal as a cryptocurrency journalist, covering blockchain technology, digital asset markets, and broader industry developments. His reporting focused on delivering clear, timely coverage of crypto-related news, with attention to market structure, ecosystem trends, and factual accuracy.
Canadian pension fund giant Caisse de dépôt et placement du Québec (CDPQ) has written off its $150mn investment in struggling cryptocurrency lending firm Celsius, acknowledging that the company entered the burgeoning sector “too soon.”
With the US Treasury Department sanctioning different projects such as the coin mixer Tornado Cash earlier this month, and the long awaited Ethereum Merge coming up, blockchain enthusiasts are afraid that government regulation could disrupt the developments in the space.
EOS, the native token that powers the EOS blockchain, surged on Wednesday after breaking above key resistance in the $1.40 per token area.
On August 16, the SEC accused Joe Roets and three affiliates, Dragonchain Inc., Dragonchain Foundation, and The Dragon Company of raising $16.5 million by selling unregistered crypto securities.
Chinese social media giant Tencent Holdings has closed its non-fungible tokens (NFT) platform Huanhe after just one year of operation. The move comes as regulatory scrutiny of NFTs mounts in the country.
Bitcoin made two unsuccessful breakout attempts on July 30 and Aug. 15. The past several days was quite volatile for the primary cryptocurrency. Even the weekend, which typically tends to calm the asset, saw several price fluctuations.
Coinage Media is going to interview Do Kwon in the aftermath of the Terra Luna collapse. In the teaser, Kwon opens by saying, “Terra was supposed to be a Stablecoin, and it didn’t remain stable. Therefore, it must be a fraud, and must be a scam. Crypto is still sort of like the wild west. I think I developed like sort of, an alter ego.”
On August 13, Monero, one of the most important privacy protocols in the ecosystem, executed a hard fork to be more secure and private, despite the governments’ attack on anonymity tools.
The mass adoption and growing usage of blockchain, web3 and dApps have focused on turning users to the specific aim of decentralization. According to Bitcoin worldwide, the global blockchain market will be worth $1,431.54 billion by 2030, growing at a CAGR of around 85.9% from 2022-2030.