South Korea delays crypto tax again; $6.4 billion in hacker funds flow into meme coins as capital shifts
South Korea’s ruling and opposition parties have once again pushed back the tax on crypto income by two years, delaying its introduction from 2027 to 2029. This is the fourth postponement—the earliest proposal dates back to 2022. With no decision from parliament, capital isn’t waiting around; it has already started shifting positions. Bitcoin holders are waiting to see how this plays out.
Meanwhile, North Korean hackers stole $6.4 billion in crypto assets. Rather than using conventional channels, they laundered the funds by launching a meme coin—and even used an image of Musk as its profile picture. It’s a brazen move that has dragged the entire DOGE-themed meme coin sector into the fray, with funds clearly pouring into the space.
More intriguingly, an ETH wallet that had been dormant for 11 years suddenly became active. $4.6 million was transferred out, narrowly avoiding a scam that was set up in just a few minutes. Long-term holders are quietly cashing out—another current in the flow of capital.
Three forces are converging: regulatory delays are easing pressure, meme coins are absorbing hacker funds, and old wallets are starting to cash out. In the short term, BTC, DOGE, and ETH will each need to digest these developments in their respective sectors. A major rally isn’t likely to arrive in a hurry.
This week, watch to see whether South Korea’s parliament finalizes its decision, and keep an eye on where the $4.6 million goes next.
🐶 Let’s take a look at Musk’s little dog ✨🚀
South Korea’s ruling and opposition parties have once again pushed back the tax on crypto income by two years, delaying its introduction from 2027 to 2029. This is the fourth postponement—the earliest proposal dates back to 2022. With no decision from parliament, capital isn’t waiting around; it has already started shifting positions. Bitcoin holders are waiting to see how this plays out.
Meanwhile, North Korean hackers stole $6.4 billion in crypto assets. Rather than using conventional channels, they laundered the funds by launching a meme coin—and even used an image of Musk as its profile picture. It’s a brazen move that has dragged the entire DOGE-themed meme coin sector into the fray, with funds clearly pouring into the space.
More intriguingly, an ETH wallet that had been dormant for 11 years suddenly became active. $4.6 million was transferred out, narrowly avoiding a scam that was set up in just a few minutes. Long-term holders are quietly cashing out—another current in the flow of capital.
Three forces are converging: regulatory delays are easing pressure, meme coins are absorbing hacker funds, and old wallets are starting to cash out. In the short term, BTC, DOGE, and ETH will each need to digest these developments in their respective sectors. A major rally isn’t likely to arrive in a hurry.
This week, watch to see whether South Korea’s parliament finalizes its decision, and keep an eye on where the $4.6 million goes next.
🐶 Let’s take a look at Musk’s little dog ✨🚀