The South Korean multinational giant, Samsung, is all set to launch a bitcoin and crypto exchange in South Korea with other members of Korea Financial Investment Association in 2023.
The Samsung securities, Mirae Asset Securities, South Korea’s largest investment banking and stock brokerage, have been exploring admission into the block-chain space via security token market, and obtaining licenses from financial authorities in the second-half of 2022.
The South Korean Ministry of Strategy and Finance revealed its plans that air-drops crypto tokens staking rewards, and hard-forked assets would be established under the scope of influence of a gift tax.
The Korea Financial Investment Association, which has 59 members that are considered securities companies, may have been motivated by the ease of crypto-regulation under Yun Seok-yeo’s government, hence the reason to advance a digital asset framework act that could create more opportunities in the industry.
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