Topic: 🤔 South Korea introduces new tax on cryptocurrency exchanges - page 3. (Read 723 times)
The move is a good one from south Korea if tax is changed on crypto it will be regularized and this will be win win for both govt and the traders.
yes it is really better way to use tax on on cryptocurrency exchanges than banning all cryptobusiness. to my mind China and another countries will do the same
The government employee of South Korea, who took part in the initiative to regulate trade in cryptocurrencies, was found dead at home on Sunday. Local media reported that the cause of death of 52-year-old Jung Ki-Joon was a heart attack. 
I think it is the result of hitting big time in crypto. There are also many investors and traders in Korea that's why their government implemented this new tax rule. Korea is into crypto right now. Just wondering what will gonna happen after 2-3 years. Does Korea will still take their part in investing to crypto?
South Korea’s government has reportedly imposed a tax on the domestic Cryptocurrency exchanges.
To be specific, they will be subject to a 24.2% tax (22% coporate and 2.2% local income taxes). According to Yonhap News Agency, the government is also requiring exchanges to share the transaction data with banks.
Tom Lee, a strategy analyst, reckoned there would be a dramatic drop in Bitcoin price down to $8,000-9,000, followed by a sharp increase to above $20,000 by the end of 2018.
This year is anticipated to be a rough, yet successful year to wise investors in this market.
RothscoinTeam.
It is interesting that SouthKorean officials so confident that they can monitor the incomes in cryptocurrencies. Otherwise the experience of South Korea would be useful for other countries and their governments.
South Korea declares that the fintech company will probably register its company into Financial Supervisory Service or FSS legally. This action will eventually lead to the provision of money transfer services internationally in small funds. Once registered the profits of the Fintech company are able to use various methods to send money abroad including using virtual money which is none other than bitcoin.
but There are several conditions that must be met by the Fintech company. The requirements in question include having to have paid up capital of more than 2 billion won. The company's debt-to-equity ratio should be below 200 percent. In addition to positively impacting consumers unfortunately this law also raises competitors for today's banks that first serve money transfer transactions. If using the Fintech company in remittance, the time required is much shorter than through banks. In addition, usually commissions taken by the bank to send money is more expensive than using a fintech company.
this is good news and hopefully followed by other countries.
but There are several conditions that must be met by the Fintech company. The requirements in question include having to have paid up capital of more than 2 billion won. The company's debt-to-equity ratio should be below 200 percent. In addition to positively impacting consumers unfortunately this law also raises competitors for today's banks that first serve money transfer transactions. If using the Fintech company in remittance, the time required is much shorter than through banks. In addition, usually commissions taken by the bank to send money is more expensive than using a fintech company.
this is good news and hopefully followed by other countries.
probably because of such regulation, the level of security will grow, but otherwise there is no sense in regulating it, only losses (
I don't think it's bad news, but a tax on the whole market would at least mean that it's legal to trade bitcoin, right? Other countries are also planning to levy a tax on encrypted money markets, a trend in the future.
South Korea’s government has reportedly imposed a tax on the domestic Cryptocurrency exchanges.
To be specific, they will be subject to a 24.2% tax (22% coporate and 2.2% local income taxes). According to Yonhap News Agency, the government is also requiring exchanges to share the transaction data with banks.
Tom Lee, a strategy analyst, reckoned there would be a dramatic drop in Bitcoin price down to $8,000-9,000, followed by a sharp increase to above $20,000 by the end of 2018.
This year is anticipated to be a rough, yet successful year to wise investors in this market.
RothscoinTeam.
Take part in the bounty. If anyone does not already know, in simple words, Bounty is a certain percentage of tokens that start-ups (ICO) are willing to pay to ordinary people for spreading information about their project to attract more attention and, accordingly, more investments. And funds for this stand out, believe me, very much. That's what we can use to earn tokens (coins) for subsequent sale on the exchange. And get your percentage with the right approach is very simple and for this you do not need to have special skills.
In South Korea, taxes on the use of crypto currency are only being planned. Hearings in the national taxation department were carried out in the middle of October. The tax service said that business using crypto currency is taxed, there are discussions about the possibility of taking taxes for capital gains.
This is a good news for South Korean peoples and now they are free to do crypto trading with 24.2% tax slab.
By the example of this, other countries should also make tax slab on crypto trading and make crypto trading legal. From this thing, people can trade crypto freely and government will also earn tax in huge amount.
I wish our government will also do the same think and make it legal.
By the example of this, other countries should also make tax slab on crypto trading and make crypto trading legal. From this thing, people can trade crypto freely and government will also earn tax in huge amount.
I wish our government will also do the same think and make it legal.
I don't know more that South Korea introduces new tax on cryptocurrency exchanges. Please tell someone.
ho! this one was happened in south korea 24% of tax means it is difficult they need more time to get profit in cryptoworld. i think due to this happen the bitcoin price was increased more than 20k $ also they are not satisfied with this profit.
It will be 2018 years bitcoin eruption year, get on the ground from the ground, get more recognition, so we should hold more bitcoin, perhaps this is our next millionaire is us. South Korea has already begun to tax on bitcoin, so other countries may do the same, with fluctuations in the short-term market, but the price of bitcoin will surely rise in the long run.
Yes it is good for long term run because government imposing tax means it’s considering crypto currency as a legal assets . So people start to believe more on crypto as they paying tax no need to worry about ban and other things. Yes for short term it’s bit difficult long term it is great move. 
South Korea’s government has reportedly imposed a tax on the domestic Cryptocurrency exchanges.
To be specific, they will be subject to a 24.2% tax (22% coporate and 2.2% local income taxes). According to Yonhap News Agency, the government is also requiring exchanges to share the transaction data with banks.
Tom Lee, a strategy analyst, reckoned there would be a dramatic drop in Bitcoin price down to $8,000-9,000, followed by a sharp increase to above $20,000 by the end of 2018.
This year is anticipated to be a rough, yet successful year to wise investors in this market.
RothscoinTeam.
In actual my view toward this taxation system is saying clearly that they will not fully make people free to use bitcoin and at another side their rules will make people to leave bitcoin ,in this way bitcoin popularity will go down more than what people were using without more restricted rule of tax .
And also at another side if anyone will exit through this work then during withdrawal of all of his money he will needed to pay 24% tax no matter he is in profit or loss .
I think its good, that govt asking people to pay tax, whatever you make profit. Means govt accepting crypto currency and more and more govt will adopt it. I hope china come back and do same thing, it will be huge for in this industry.
I think that this year will be successful for experienced investors, and newbies will lose large sums due to the fact that all the processes market are very accelerated
I'm not just south korea, but chances are all countries will be taxing in cryptocurency 
I guess sooner or later it will be available in all countries .And this is a good sign, so this market is recognized by world powers , this is the future
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