This newsworthiness is even more frustrating, considering that Korea has been quite rigorous in regulating cryptocurrency, resulting in the infamous “Kimchi cousin.” This premium is a surcharge on the ball-shaped trading price of Bitcoin and other cryptocurrencies, as Koreans are prohibited from using external exchanges and any interaction between the crypto ecosystem and the traditional tax system is subject to strict capital controls.
However, Draghi demurred when asked on Wednesday if he thought Berlusconi was a feasible activist, saying it is not for him to assess potential heads of state.
Among the other people indicated for the position are the former Christian Democrat president of the Chamber of Deputies, Pier Ferdinando Casini; former government source and current European Commissioner for Economy Paolo Gentiloni; and Giuliano Amato, an 82-year-old European enthusiast who helped draft the European Constitution. The method of action to elect the president of the United States is quite complex.
Deputies and senators, together with representatives of 20 Italian regions, about a thousand people in total, meet to vote.
Therefore, the Democratic Party of Korea will seek to raise election funds through cryptocurrency donations, issuing receipts to donors in the form of NFTs to certify their participation. obviously, all funds raised will go to the crusade. According to party officials, if the venture is widely accepted by people in the area, Lee Jae-myung would become the inaugural candidate in the global concern to issue NFTs to finance a political bid. The cryptocurrencies that are being considered for donations are Bitcoin, Ethereum and three others that are even undisclosed.
The final list will be announced in mid-January, according to Lee Jae-myung’s political campaign committee. The donation funds will be converted into Korean won via a cryptocurrency exchange before being deposited into the campaign report.
Cryptocurrencies Accepted as Political Donations
At the press conference, the legislator also revealed the preparation of the presidential candidate for fundraising through the issuance of digital tokens.
Emphasizing that the National Election Commission [NEC] gave a green signal last month that raising funds using NFT does not violate the Political Funds Act or the Public Official Election Act. Apart from that, former Minister of SMEs and Startups Park Young-sun, who is in charge of digitalization policies in the DPK election campaign committee, also pushed the party’s digital asset-friendly policies by issuing an NFT tagging his Facebook message written in 2018, in which he opposed the closure of cryptocurrency exchanges.
South NFT DPK NFTs Jaehyuk Koreatimes
South Korea has the potential to make Silicon Valley and China compete for your money. The country has been ranked as the most innovative economy by Bloomberg, dominating international charts for R&D intensity, value-added manufacturing, and patent activity.
It is a melting pot of innovation. Think about it: what other country is competing head-on with Apple in the high-end smartphone race? The East Asian nation is also home to the world’s fastest internet and broadband services per capita are the highest in the world.
On top of it all, the world is experiencing its fourth industrial revolution, led by digitization, artificial intelligence, robotics, increased connectivity, and autonomous vehicles. Korea could have a very important role to play.
The country’s smartphone and home appliance companies have begun to embrace artificial intelligence.
A large part of the sales volume comes from the widespread adoption of digital art and collectibles, as well as money-making games like Axie Infinity.
Despite their growing popularity, NFTs have yet to be classified as virtual assets in South Korea. Regulators have not decided whether NFTs should be labeled “virtual assets,” which would make them subject to the same income taxes that apply to transactions in other crypto assets like Bitcoin and Ethereum.
While the absence of laws makes NFTs tax-free for now in South Korea, the situation could change in the future. In other countries like the US
Samsung smartphones are some of the best examples of AI-based speech recognition technology.
Korea is also a leader in digital banking. The first digital-only bank in Korea, K Bank, recently launched. One of its sponsors includes Alipay.
The government has also approved the launch of Kakao Bank, created by Korea’s incumbent messaging service, KakaoTalk.
Users could transact with friends directly without the hassle of typing in bank account numbers.