Korea

An app will be used to embed blockchain-powered digital IDs into mobile devices. Government officials will not have access to stored data.

The relief will continue until the affirmation, termination or denial of the request for CFTC certification, or 24 April 2023 - whichever is earlier.

Any foreign currency transactions worth more than KRW 5,000 has to be reported to the central bank, or face penalties for violating Korea's foreign exchange laws.

The government was planning to waive the tax for non-residents and foreign corporations in January but decided to bring the measure forward.

A fire occurred at a data centre where Kakao operates 32,000 servers that support the vast majority of its mobile services.

The changes will ease the burden on SMEs, enhance executive responsibility over accounting controls, and triple whistleblower rewards.

Local securities firms are required to notify investors if they are fined for violating short selling-related rules, but this is not the case for foreign investors.

The case involves a loan worth 30 bitcoins with an annual interest rate of 60 percent. Korean law caps interest rates on loans at 24 percent.

The programme will cater to pandemic-hit micro-enterprises and self-employed business owners. A mortgage loan conversion programme has also been expanded.

The stabilisation fund will be worth a reported $7bn and be used to inject money in the local stock market if it continues to fall.