Address
5F, 526 Nonhyeon-ro,
Gangnam-gu, Seoul, Korea
Korea Crypto & Digital Asset Law
Deals and legal analysis on Korean virtual asset regulation, VASP registration, token listings, AML, stablecoins and digital securities from Cha & Kwon Law Offices in Seoul.
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Latest Briefing on Virtual Asset Taxation and Digital Asset Act (Updated Dec 2022)
The National Assembly of Korea held a plenary session on the night of the 23rd and passed an amendment to the Income Tax Act, which included the postponement of virtual…
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Financial Authorities, Began Investigating Self-Issued Coin (Updated Dec 2022)
[Executive Summary] When it was revealed that some small and medium-sized coin market exchanges have listed and traded “self-issued coins,” the financial authorities launched a full investigation. The Financial Intelligence…
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Bank of Korea Acknowledges the Need for IEO for Crypto Assets (Updated Dec 2022)
[Executive Summary] The Bank of Korea has diagnosed that it is necessary to introduce an initial exchange offering (“IEO”) system for crypto assets in Korea and to review the application…
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Concerns over Taxation Issue of Virtual Assets in South Korea (Updated Dec 2022)
[Executive Summary] Recent concerns regarding the taxation on virtual assets are accumulating, as the National Assembly of Korea has been stagnant for a while due to disputes between the opposing…
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Legal Review of Virtual Asset Income Tax Payment Obligations of Overseas Corporations
Legal analysis of the requirement for foreign corporations to withhold tax on revenue from virtual asset was conducted by Cha & Kwon Law Offices. The client asked for a review…
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Court To Decide Delisting Injunction on Wemix Coin by Wemade (Updated Dec 2022)
Executive Summary DAXA (Digital Assets eXchange Alliance), which is the joint consultative group consisting of the 5 major exchanges in Korea that operate KRW market (Upbit, Bithumb, Coinone, Korbit, and…
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A Brief Introduction to NFT (II)
What other issues are there regarding NFT? Although an NFT stored on a blockchain is unlikely to be hacked or corrupted, that may not be the case for the associated…
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A Brief Introduction to NFT (I)
What does NFT stand for and what is it? NFT stands for a Non-fungible Token. At a basic level, an NFT is a digital asset that links ownership to unique…
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Presidential Office Orders Inquiry into Busan’s Digital Exchange Event (Updated November 2022)
[Executive Summary] The Office of the President ordered an inquiry into the FSC vice chairman’s presence at the Busan Blockchain Week 2022 event, asking the organizations to clarify their position…
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A Regulatory Body, the KCSC, Holds Off Its Actions Against Overseas Exchanges (Updated November 2022)
[Executive Summary] The Korea Communications Standards Commission (the “KCSC”) is holding off its decision to block access to overseas virtual assets exchanges that the FIU reported in August, for operating…
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Legal Review of Decentralized Blockchain Software Contracts
Blockchain-related software development contracts for the delivery of decentralized financial services underwent legal scrutiny by Cha & Kwon Law Offices. Software that makes use of blockchain cannot be substituted by…
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Legal Review of Newly Issued Token for Its Possible Attributes of Securities
Cha & Kwon Law Offices investigated whether the newly released “Token A” qualifies as a “financial investment product” or securities according to the Financial Investment Services and Capital Markets Act…