Topic: South Korea Opens Doors for Cryptocurrency - page 7. (Read 2823 times)
In order for the Cryptos market to become more stable and manageable in the future, South Korea has decided to set up a special team to research and develop policies for the management of the Cryptocurrency market. Representatives from the Blue House, the official presidential office of the president, have just announced that there will be no more bans in the country about Bitcoin or encrypted transactions.
It’s great that they know how to embrace innovation. The rest of the world should be just as open minded, in my opinion.
Heh, they embrace innovation when they see how well it works or how well they can exploit it.
To be fair, it's great that cryptocurrency is being accepted here. There's a blockchain cafe in Gangnam. Ironically, they only accept fiat.
The steps taken by South Korea and Germany in support of Bitcoin and cryptocurrency is a revolutionary one which will bring a major boost to the economy of these countries because crypto offers vast job opportunities for the people. This will also bring about an increase in the crypto market value as its demand increases.
Exactly. Maybe this is what the world needs. Leaders who can show us how it can be done. Lead by example, so to speak. And hopefully, other countries will see and realize how important it is to embrace crypto technology.
SK has always been pro-crypto. This article even describes them as “crypto-crazy.” Hahaha! But I think it’s great that they’re passionate about it.
“South Korea’s crypto craze is based on a foundation of ubiquitous technologies and a strong and wide early adopter base in this country of 50 million.”
https://venturebeat.com/2018/07/14/why-south-korea-is-crypto-crazy-and-what-that-means-for-the-rest-of-the-world/
It’s great that they know how to embrace innovation. The rest of the world should be just as open minded, in my opinion.
Everytime a country open their doors for cryptocurrencies. It will have a big impact in the market. I hope this will help the market to recover again.
It is high time, in this country there are a lot of crypto enthusiasts. I think that the community will feel the inflow and outflow of such a huge number of people.
South Koreans are known as innovators. So hopefully the reat of the world can follow their lead when it cimes to cryptocurrency policies. They even have a province that has its own crypto token.
I agree, the Chinese and Koreans in front of the rest. but unfortunately many countries, even if they see success in a certain area with another country, will not introduce the same conditions in themselves, but will do so that it would be beneficial for the government 
I'n not surprised at all, South Korea has always been a very tech friendly country, of course they wouldn't miss the opportunity to be among the first countries in the world to actually use the cryptocurrencies, I really like their mentality!
Happy to hear this glorious news finally the South Korean government have realized the importance of cryptocurrency. No more hesitation for the Korean investors to invest in this digital currency market except this many more new investors will be coming into this area after being legalized cryptocurrency in South Korea. Applying taxes 10-15% is not a big deal to the crypto dealers but the big deal is now it's legal to trade. So that day is not a long way to be legalized cryptocurrency all over the world and will be a free trade zone for all crypto investors.
Well this is a great news as it will go a long way to bursts the courage of those who are waiting for government involvement in cryptocurrency before they can start using it and this will he'll increase the market demands for cryptocurrency. And again this will give room for regulations due to the taxation apply.
I wonder how you can calculate the amount of tax on cryptocurrencies? They have constant volatility. This is possible for legal entities that maintain accounting records. But for individuals it will be a problem. But I am wary of such news in any case. Regulation of cryptocurrencies can scare off large investors and bitcoin will lose most of its capitalization. Maybe it's happening now.
The only way it can work is when you can convert to fiat.No point in declaring profits than a month late you could be in a loss.
good, now regulation for cryptocurrency users is starting to exist and that means the government is opening the door for the cryptocurrency community to develop blockchain technology so that it can be utilized publicly
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!
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!
Thanks for Your useful information. It is a good news for crypto space in next time. Just wait to see going up
if Korea has begun to open the door to cryptocurrency usage and circulation in the country it will certainly provoke other countries to open and receive payments and cryptocurrency usage will become wider, I really hope that could happen and could trigger an increase in bitcoin prices.
This is incredible, I am kinda late with the news but once I saw this and heard about it on the news I was excited, since in the next few years, we will be going to South Korea to visit our relatives there, and I am thrilled to hear that cryptocurrency would finally be legalized there! I can't wait to see what could be the exciting stuff out there! K-POP, Idols, the Food, and now CRYPTOCURRENCY in South Korea, I am excited and thrilled.
South Korea is a big country so it will certainly be good if South Korea opens the door to cryptocurrency. Surely this will attract more investors and also fans of cryptocurrency. Hopefully other countries will follow in the footsteps of South Korea. And bitcoin is made a legal payment. I hope that happens in the future.
It's been a while and still there's no impact yet with the current market, though you are correct this country is already considered as a well developed country and if more countries will follow the step that they've take and fully adopt this system, it will bring a huge growth as more people will used thischain and it will be more usable imagine just bringing your device with your safe wallet and transact anywhere in the world who cater crypto payments.
Another government recognizes Crypto is a very good news indeed.
While South Korea was so in it, I think the North wanted not to fall back. Therefore, it can be economically difficult for two neighboring countries to exhibit different attitudes.
I think, South Korea and North Korea disagree with one another, even though they are both Korean. especially now that the development of crypto is also declining. So the Korean country also needs to be aware of problems like this.
Another government recognizes Crypto is a very good news indeed.
While South Korea was so in it, I think the North wanted not to fall back. Therefore, it can be economically difficult for two neighboring countries to exhibit different attitudes.
Another government recognizes Crypto is a very good news indeed.
This is good news, will be a good hope for Cryptocurrency not only South Korea, Germany has also allowed its citizens, the more countries that legalize there will be good hopes, I am sure that in the future more countries will endorse Cryptocurrency.
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