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Finance

Toss Bank adds Kiwoom Securities issued notes to lump-sum management service; cumulative total tops 30 trillion won

Toss Bank added Kiwoom Securities’ issued notes to its asset management service “Mokdon Guligi,” it said on Thursday. The service’s cumulative linked sales recently exceeded 30 trillion won. The newly added products include a demand type and a fixed-term type with four maturities. Returns and conditions vary by product type and holding period, and the rates are subject to change with market interest rates.

Crypto

Digital asset taxation four months away, calls to redesign blanket other-income classification

With digital asset taxation set to begin next year, a proposal has emerged to revise the current system that classifies both transfer and lending income as other income. Speakers at a National Assembly forum said income categories should reflect the economic substance of different transaction types, including trading, mining and staking. They also called for stronger enforcement infrastructure, including linking transaction data across domestic and overseas exchanges and personal wallets.

Crypto

Nigeria issues digital asset tax guidelines, some taxes to be paid in tokens

Nigeria has issued new guidelines requiring cryptocurrency exchanges and peer-to-peer platforms to collect, report and pay taxes on digital asset transactions. The rules require platforms to withhold 1 percent of proceeds from disposals of taxable crypto assets, security tokens and applicable NFTs. A 10 percent withholding tax applies to staking, mining, airdrops and DeFi income. Some withheld taxes must be paid in the token used in the transaction.