South Korea confirms 22% crypto tax for 2027; Russia bans mining in Moscow until 2032

https://www.lightspark.com/knowledge/is-crypto-legal-in-south-korea Recent developments in crypto regulation and payments across Asia and other regions are drawing attention. South Korea has confirmed a 22% tax on crypto gains exceeding 2.5 million won, set to commence in 2027. Meanwhile, Russia has instituted a ban on crypto mining in Moscow and surrounding areas until 2032. Binance has expanded its operations in the Philippines by acquiring a sandbox license, though it is not a full Virtual Asset Service Provider (VASP) license. Uzbekistan is creating a tax-free crypto mining zone in Karakalpakstan, with mining income exempt until 2035. Additionally, Emirates has partnered with Crypto.com to introduce crypto payments for its UAE customers. These regulatory changes are influencing market dynamics, particularly in the crypto sector. South Korea’s move provides regulatory clarity, which markets suggest could positively impact Bitcoin’s price expectations in the long term. However, the Russian mining ban may counteract this by reducing crypto activity in a major market. Binance’s expansion into the Philippines and Uzbekistan’s mining incentives reflect ongoing regional interest in de...