• For unpaid taxes, South Korea seizes cryptocurrency worth US$184 million

    For unpaid taxes, South Korea seizes cryptocurrency worth US$184 million0

    According to local media sources, cryptocurrency assets confiscated from alleged tax evaders in South Korea in 2021 and 2022 totaled close to 260 billion Korean won (US$184.3 million). Nearly 12.5 billion won, or $8.87 million USD, worth of cryptocurrency was the most ever taken from a single noncompliant taxpayer. The person apparently held 20 cryptocurrencies,

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  • South Korea and Meta will increase metaverse security

    South Korea and Meta will increase metaverse security0

    On Monday, Andy O’Connell, vice president of product policy and strategy at Meta Platforms, Inc., and representatives from South Korea’s official media regulating agency met to talk about methods to improve user protection on the metaverse. According to reports in the local media, O’Connell and Meta (formerly known as Facebook Inc.) were encouraged to work

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  • According to the science ministry, South Korea won’t rule the metaverse with game laws

    According to the science ministry, South Korea won’t rule the metaverse with game laws0

    The Ministry of Science and ICT (MSIT) said during a government briefing on Wednesday that South Korea would instead produce a guideline for governing the metaverse. Within this year, a policy will be developed to help better promote and separate the video game metaverse. While conceding that some aspects of the metaverse are similar to

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