After tax implementation, revenues of Crypto in South Korea increased!

DRVX

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Quote from: Jannalsieh on February 19, 2018, 07:49:49 AM

Revenues for Cryptocurrency in South Korea increase 88 times according to government.
https://news.bitcoin.com/revenues-cryptocurrency-exchanges-south-korea/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

How much do you think South Korean exchanges will grow this year?
Will it yield positive impacts on other cryptos?

This is the right step. People realized that they can use crypto currencies and they do not need to worry about paying taxes. I think that soon many countries will do the same.

lutcor

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I think that many countries need to learn from South Korea to conduct financial operations with crypto-currency projects, because as far as I can remember a lot of projects that were created in Asia have a very global success

bitcon

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Quote from: Jannalsieh on February 19, 2018, 07:49:49 AM

Revenues for Cryptocurrency in South Korea increase 88 times according to government.
https://news.bitcoin.com/revenues-cryptocurrency-exchanges-south-korea/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

How much do you think South Korean exchanges will grow this year?
Will it yield positive impacts on other cryptos?

The growth of certain parts of the market positively affects the growth of other similar sectors of this area of the economy. I'm glad that the revenues of the cryptocurrencies increase with the improvement of the taxation system.

Jannalsieh

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Quote from: acheampong64 on February 20, 2018, 02:54:06 AM

Quote from: Jannalsieh on February 19, 2018, 07:49:49 AM

Revenues for Cryptocurrency in South Korea increase 88 times according to government.
https://news.bitcoin.com/revenues-cryptocurrency-exchanges-south-korea/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

How much do you think South Korean exchanges will grow this year?
Will it yield positive impacts on other cryptos?

That is what we need now!!. I mean governments should understand that this is the order of the century! They should also start to accept what South Korea has just done and start implementing rules and regulations to help make cryptocurrency better. We all can not do away with the fact that, fraud occurs in every aspect of life, and that rules and guidelines help to protect us. So in view of that, should in case other countries adopt this mechanism, people will have trust in crypto in a global adoption and will help boost revenue in cryptocurrency. For the second question, i think the South Korean exchange will continue to grow and the impact will be everywhere because they hold a big portion of crypto trading and activities. And lastly, yes it will have impact on other cryptos because as trading volume increases prices also follows. We hope for a better and high values this year and beyond. Crytpo has indeed come to stay

Indeed it is!
The government can't stop cryptocurrencies from rising to fame, and the world community is looking at it and investing in it, so government should just accept and recognize it as legit digital currency. If rules and regulations are in place, it would certainly help cryptocurrency transaction a better and a safe platform.
In the Philippines a lot of banks also participate and support crypto transactions and even the Philippine Central Bank grants the first ever crypto exchnge licenses at https://www.ethnews.com/philippines-central-bank-approves-licenses-for-two-cryptocurrency-exchanges

acheampong64

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Quote from: Jannalsieh on February 19, 2018, 07:49:49 AM

Revenues for Cryptocurrency in South Korea increase 88 times according to government.
https://news.bitcoin.com/revenues-cryptocurrency-exchanges-south-korea/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

How much do you think South Korean exchanges will grow this year?
Will it yield positive impacts on other cryptos?

That is what we need now!!. I mean governments should understand that this is the order of the century! They should also start to accept what South Korea has just done and start implementing rules and regulations to help make cryptocurrency better. We all can not do away with the fact that, fraud occurs in every aspect of life, and that rules and guidelines help to protect us. So in view of that, should in case other countries adopt this mechanism, people will have trust in crypto in a global adoption and will help boost revenue in cryptocurrency. For the second question, i think the South Korean exchange will continue to grow and the impact will be everywhere because they hold a big portion of crypto trading and activities. And lastly, yes it will have impact on other cryptos because as trading volume increases prices also follows. We hope for a better and high values this year and beyond. Crytpo has indeed come to stay

gowron24

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This is great news! The SOuth Korean government is probably a trend setter in this, which will make cryptos more viable for regular users and will spread their volume. Finally some god news after January's slump!

Vit83

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Regulation IMHO not bad for mass adaptation of crypto world in real life. If it will be the legit way to buy/sell crypto with the commission under 5-10% it will boost usage of crypto to new levels.

shahani

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If a certain business will legalize, it will also affects the percentage of community users to trust, because they can directly file a case if there are risky thing happened. And if taxes of crypto will totally implemented, people doubts and negative issues of crypto will totally eliminated.

Teraboy

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Quote from: Jannalsieh on February 19, 2018, 07:49:49 AM

Revenues for Cryptocurrency in South Korea increase 88 times according to government.
https://news.bitcoin.com/revenues-cryptocurrency-exchanges-south-korea/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

How much do you think South Korean exchanges will grow this year?
Will it yield positive impacts on other cryptos?

The tax implementation gives a green light to the crypto currencies in the south korea. I can say it pushes a lot of people to join in the cryptocurrency again without any problem of the crypto will be getting a ban rumour again. That looks good but we will see another ATH in this year because we are in the right way.
With tax implementation that means crypto is legal and then sky should be the limit.

zhuiyongliang8

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Quote from: Jannalsieh on February 19, 2018, 07:49:49 AM

Revenues for Cryptocurrency in South Korea increase 88 times according to government.
https://news.bitcoin.com/revenues-cryptocurrency-exchanges-south-korea/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

How much do you think South Korean exchanges will grow this year?
Will it yield positive impacts on other cryptos?

The encryption currency is licensed by South Korea, and the south koreans have more confidence in investing and trading in encrypted currencies than ever before.

It's a win-win situation.

kingkats0803

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This shows that with regulations of cryptocurrency market and other trading channels, investments will surely flow since people now trust that cryptocurrency is recognized and accepted as legit digital currency. This is in a way an assurance from the government which caters in and attracts potentially good investors as indicated in the whooping 88 times fold in the revenues received thru transactions of major coins in the country.

Going back to the question of how much exchanges in South Korea will grow this year, I don't really know a thing. But given the situation now, I believe that wonderful things are gonna happen in South Korea, and it is driven by cryptocurrency.
Of course with government regulating and accepting crypto transactions, it will definitely have a positive impact to all crpytos in general.

Kryten12

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TREEBLOCK

I believe this confirms most people's suspicions that firstly there was a lot of fake news going around to help accelerate the drop in the price of Bitcoin. Secondly no governments have any plans to ban cryptocurrency, they just want to be able to extract their share of the profits via taxation. Finally the prices will likely rise again as people realise the perceived obstacles have been removed.

Faeton

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This is a very good situation, if in the government of South Korea they saw that they can extract from the crypto-currency activity a good profit. Hence, there will no longer be forbidden or restricted in circulation. People, in any case, will find ways to deal with crypto currency so that it is profitable. Perhaps after this situation with the crypto currency in South Korea is stabilizing.

Duzenn

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The Experience Layer of the Decentralized Internet

This is a positive sign for cryptocurrency markets because it means that it is legal to recognise BTC and other altcoins as assets.
But it's not good news for us, because we're going to have to pay a lot of taxes.

marydale

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Quote from: Jannalsieh on February 19, 2018, 07:49:49 AM

Revenues for Cryptocurrency in South Korea increase 88 times according to government.
https://news.bitcoin.com/revenues-cryptocurrency-exchanges-south-korea/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications

How much do you think South Korean exchanges will grow this year?
Will it yield positive impacts on other cryptos?

I believe 2018 will be a good year for South Korea as government fully accepts and embrace the benefits of bitcoin. Surely there will be others that will be against regulations since crypto is a decentralized platform, but let's face it guys, we need acceptance from the community and national government for our digital assets to be legitimized.
Otherwise our assets will not grow in a fast paced manner. But of course will accomplish growth on our own, but not as fast.
Good things are coming for everyone or every country, but in South Korea - Crypto is with them all the way thru.

Jannalsieh

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Quote from: Prodigan786 on February 19, 2018, 08:44:51 AM

I think it’s goid sign because people in South Korea are much confidence than before to invest and trade crypto currency . Because government also taking profit out of that . So there will not be fear of ban in near future. If it implies in other vountries also it should be great sign.

I believe the same. Should the national government of a country adopt and accept bitcoin, and make proper regulations, it will incite and usher in more investors. And with that many will follow suit, may it be individual or a government system since everyone profits in this endeavor.
You see, when Cryptos are properly managed with proper information drive and regulations in placed, it will surely grow.
There will be no losers in this arena, but all are winners.

Nikosgalis1957

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I think this is very good news for South Korea and the crypto world as it is a win-win situation for both crypto investors and the government. I think more countries should follow the example of South Korea and make Bitcoin and Altcoins legal so that they can take advantage of the crypto tax and that people can benefit from investing in cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple or NEO.

MV7

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So glad korea is going in the way of japan in terms of crypto, and not china. There's a saying "if china bans it, invest in it." Like another poster said, win-win for the citizens and the government.

Tone147

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I always thought it was a win-win situation. Ordinary people can earn profits by investing in cryptocurrency, and the government can increase the income of the country through tax revenue.

Prodigan786

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I think it’s goid sign because people in South Korea are much confidence than before to invest and trade crypto currency . Because government also taking profit out of that . So there will not be fear of ban in near future. If it implies in other vountries also it should be great sign.

Topic: After tax implementation, revenues of Crypto in South Korea increased! (Read 191 times)