Payback for ransomware may violate OFAC’s regulations

Issue crypto transaction in case of a ransomware attack may violate OFAC regulation This Advisory has been published following the surge of ransomware during COVID-19 pandemic License applications involving ransomware payments will be reviewed by OFAC on a case-by-case basis with a presumption of denial In case of ransomware, OFAC »

FCA: Annual Financial Crime Report to be extended; cryptoasset businesses included

This August, the Financial Conduct Authority (FCA) in the UK published a consultation paper. The paper proposes to extend the scope of firms required to provide Annual Financial Crime Report (REP-CRIM) information. It should include firms that carry on regulated activities considered to potentially have higher money laundering risk, such »

Scorechain Help Center is launched

We are happy to announce that Scorechain Help Center is live now! The goal of this Help Center is to give Scorechain Customers a quick and seamless experience when they have questions or doubts about Scorechain products and usage.  An easy-to-access Knowledge Library is available for them anytime. More than »

Crypto taxation in South Korea should be expected this autumn

Up to now, both personal (resident & non-resident) and foreign corporations in South Korea don’t pay any tax on their crypto profits under the current tax law. Back to the end of last year, the Ministry of Economy and Finance clarified that profits from individual virtual asset transactions are not »