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Topic: South Korea Opens Doors for Cryptocurrency - page 14. (Read 2823 times)

full member
Activity: 688
Merit: 106
I believe in a year or two we will see the whole world moving in the same direction regarding bitcoin. most of the countries will start off by calling bitcoin things like "commodity" and then setting taxes like this, sometimes higher than it should be and some other countries will see its true nature and see it as a "currency".
in the end the best way is to take taxes from the investors on exchanges and remove taxes from it for those who use it as a currency. basically something like Japan with a lower tax.
I agree with you that, in the next many years all countries in the whole world will open the door for cryptocurrency especially bitcoin and etheruem because this two are the solid coins. Actually, South Korea people already adopt the using of cryptocurrency and I hope their government will not against it so that they could use cryptocurrency freely.
newbie
Activity: 54
Merit: 0
Approximately eight months after the first ICO ban, the Korean National Assembly issued a formal proposal allowing ICO in the country.
newbie
Activity: 11
Merit: 0
Yes, Korea is open to Cryptocurrency. In addition, in order for the market to become more stable and manageable in the future, Korea has decided to set up a special team to research and develop policies for the management of the electronic money market.
jr. member
Activity: 167
Merit: 2
hearsay again. whether to be able to make the state of cryiptocurrency in the market better than now.
newbie
Activity: 30
Merit: 0
its about time. it will have an impact to the crypto world.,
sr. member
Activity: 812
Merit: 251
Paying taxes is acceptable. If the korea paying taxes investing in cryptocurrency it is good because the government want to legluze crypto to their country and no problems will happen between the government and the investor. It is good because the korea will invest more of their money to cryptocurrency.

It's always great to know that some of the advanced countries such as Japan and South Korea are welcoming bitcoin and cryptocurrencies in general and so we should take advantage of such news to increase and grow our investment so that at the appropriate times we might be able to reap from our contributions.
full member
Activity: 364
Merit: 107
Before this time, almost Korean investors really worried about new tax policy for cryptocurrency.
That's why all news said the government will apply 3~40%taxes for crypto at Jul~Aug.
But today, the government said we will apply 10~15%taxes for crypto like interest income tax, and it is very acceptable to all Korean investors.
Also they said we feel hard to say it will happen within this year and although will happen this year, there will be 1~2years stay period.

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&oid=023&aid=0003382087&sid1=001&lfrom=kakao

In conclusion, Crypto is accepted by government's legal property, SO MANY KOREAN INVESTORS WILL GET INTO MARKET AGAIN!



This is great news because the 3%- 40% is really a big number specially if they decided to tax it in around the high 30%. With the 10%-15% it is attractive because it is a more specific number, which is actually an acceptable number if you are going to pay tax. This will make Koreans interested again in to the crypto currency market which will surely affect it positively.
hero member
Activity: 1834
Merit: 523
Paying taxes is acceptable. If the korea paying taxes investing in cryptocurrency it is good because the government want to legluze crypto to their country and no problems will happen between the government and the investor. It is good because the korea will invest more of their money to cryptocurrency.
full member
Activity: 770
Merit: 101
Before this time, almost Korean investors really worried about new tax policy for cryptocurrency.
That's why all news said the government will apply 3~40%taxes for crypto at Jul~Aug.
But today, the government said we will apply 10~15%taxes for crypto like interest income tax, and it is very acceptable to all Korean investors.
Also they said we feel hard to say it will happen within this year and although will happen this year, there will be 1~2years stay period.

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&oid=023&aid=0003382087&sid1=001&lfrom=kakao

In conclusion, Crypto is accepted by government's legal property, SO MANY KOREAN INVESTORS WILL GET INTO MARKET AGAIN!


I think the government ban would not have much impact on the Crypto market. In my country, the government has banned Bitcoin but we are still working very well. We did not encounter any obstacles and could transfer altcoin to our normal currency. So many Korean investors are still active if their country bans. Grin
sr. member
Activity: 616
Merit: 262
It is good that this problem has been solved in the South Korea, it is good that the copper is but not exaggerated and let the truth work that it will do for the world market and that Korea has a great weight in bitcoin and always affects the other market every time they closed cryptocurrency exchange houses and intervened and persecured those who had crypts that good the solution of that government

Issues related to cryptocurrency when it comes to South Korea has a big impact in the price of bitcoin. When they ban ICOs, price of bitcoin went down and now there is positive news about taxes that would encourage more people to invest on it. Hoping that other countries would follow suit too in welcoming cryptocurrencies. Instead of banning it, they should just tax the people earning from it and they can also benefit too because their funds would increase. They just have to make applicable regulations to prevent the things they are afraid of from happening.
full member
Activity: 409
Merit: 103
This will bring good news to the market, knowing that tax gets low again for south koreans whales their might be active again in investing to crypto market which is a good thing because it will bring so much money to crypto and will probably leads to recovery of the market in the current situation.
member
Activity: 251
Merit: 10
It is good that this problem has been solved in the South Korea, it is good that the copper is but not exaggerated and let the truth work that it will do for the world market and that Korea has a great weight in bitcoin and always affects the other market every time they closed cryptocurrency exchange houses and intervened and persecured those who had crypts that good the solution of that government
member
Activity: 252
Merit: 10
You have to say they had to open doors.. Because time has come and the paper money will fade soon. Not just South Korea, the biggest countries China and United States should accept the cryptocurrency rule. When they accept the market go higher and got strong. I think in near future crpto will be the king of the world.
newbie
Activity: 96
Merit: 0
Recently, representatives of the Green House - the official presidential office of the president of South Korea has just announced that there will be no more bans in the country for Bitcoin or codec transactions. So, the law of the former Justice Minister on the ban on Bitcoin transactions was rejected
sr. member
Activity: 1400
Merit: 269
In time countries will start to see the benefits of crypto currency in terms of economical growth that can be good for their fiat and other resources. They just need to put some regulations and business that allows crypto users to convert their money to fiat or businesses that accepts crypto as payment, so they can tax it as well.
full member
Activity: 434
Merit: 103
Thinking on the higher plane of existence.
After all, government will still listen to its investors given that they will pay a decent amount of tax. I believe that in the next week will be a good time to buy and sell cryptocurrencies.
member
Activity: 350
Merit: 10
Good news began to appear more and more, but there is still no growth in prices and strong demand, there may be a gradual increase in prices without sharp leaps. Technically advanced South Korea having one of the most developed economies in the world shows a good example to other countries with similar steps for recognizing and accepting cryptocurrencies.
legendary
Activity: 950
Merit: 1000
I think this is a more useful solition than prohbition. Whit reasonable taxation investors and the government can together and be satisfied on both sides.
newbie
Activity: 50
Merit: 0
Good new for cryptocurrency. Not allowing to trade is kinda unfair to people and government should listen to people, not deciding for themselves. Looks like Crypto will get back on it's feet.
sr. member
Activity: 518
Merit: 250
In my research lots of people doubt that crypto will come and conquer the other different countries, but now uts happening. In article Before this time, almost Korean investors really worried about new tax policy for cryptocurrency.
That's why all news said the government will apply 3~40%taxes for crypto at Jul~Aug.
But today, the government said we will apply 10~15%taxes for crypto like interest income tax, and it is very acceptable to all Korean investors.
Also they said we feel hard to say it will happen within this year and although will happen this year, there will be 1~2years stay period.
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