Topic: South Korea's New Crypto Tax Policy - page 2. (Read 343 times)
If that rates number is true, it is too much. I mean not many people make millions out of crypto, cutting 1/4 of it for government is lame idea, I would rather try to avoid it than pay for it.
When will people learn? Did they realize the "FUD" for the past two months was all complete garbage? Every time the news said something, the Korean government came out and said otherwise, they constantly said for months what they were going to do, so this latest news is not new, it's simply something that again reaffirms what the government anyway had been wanting to do and kept saying.
Now here's the other strange thing: if this is really new news, why hasn't the price rebounded? All was blamed on Korean FUD, wasn't it?
Now here's the other strange thing: if this is really new news, why hasn't the price rebounded? All was blamed on Korean FUD, wasn't it?
It's market manipulation. The price should bounce back this evening after futures contracts come in.
It sucks, but it seems like a dirty trick has been played.
malaysian taxman also start blocking exchanger bank account and asking exchanger to handover customer record for taxation purpose, feels like not appropriate for any government to impose such tax regime as its does not involved any government process at all, they do not take responsibility to regulate or protect it in any way at all, and they also do not provide clear process for participant to be recognize as investor of some sort, this is free market built by people, without involvement of government at all, why they come and ask for money
Every country has the right to tax their citizens on their income, both domestic and abroad... Anyway, I'm not totally against this approach. It makes crypto gains less obscure and hopefully will attract more people investing in crypto.
Btw here in Belgium a judge ruled crypto gains are speculation and should be taxed at 33%...
Btw here in Belgium a judge ruled crypto gains are speculation and should be taxed at 33%...
https://cointelegraph.com/news/s-korea-to-tax-crypto-exchanges-242-percent-in-line-with-existing-tax-policy
Despite all the FUD from Korea lately, it seems like the government is actually taking a fairly positive stance towards crypto now. I think an official tax system for cryptocurrencies legitimizes the industry. Looks like Korea might be going towards what Japan has done in terms of policies regarding crypto, even though in the beginning it looked like they were going in the same direction of China (creating FUD, making things illegal).
Everything is still in the initial stages, so I'm really interested in seeing what happens in the future. What do you guys think?
I must actually commend the south Korea government and there tax agency for being fair in this as I know from beginning that people were just over pump the issues over there in other to create panic selling. I have said this several times that government need to understand crypto currencies aim and objectives in other to take advantage of it as we can see that Japan gdp has rise significantly because of legalizing of bitcoin and others altcoins!Despite all the FUD from Korea lately, it seems like the government is actually taking a fairly positive stance towards crypto now. I think an official tax system for cryptocurrencies legitimizes the industry. Looks like Korea might be going towards what Japan has done in terms of policies regarding crypto, even though in the beginning it looked like they were going in the same direction of China (creating FUD, making things illegal).
Everything is still in the initial stages, so I'm really interested in seeing what happens in the future. What do you guys think?
In the beginning, I really thought Korea was going towards what the Chinese were doing. I watch quite a bit of Korean news, and FUD was being spread around constantly. There were a lot of reports of people selling cars and houses to buy crypto, only to lose their money in the recent dip. Obviously the fault of the investors, but news media were treating it as if cryptocurrencies were at fault, and not the investors.
Things started changing I think about a month ago when factions of the government started disagreeing on what to do with crypto, with some saying it should be banned all together. Cooler heads prevailed though, and now I think it's headed somewhat in the right direction. Hopefully the same thing that happened in japan in regards to crypto can happen in Korea
https://cointelegraph.com/news/s-korea-to-tax-crypto-exchanges-242-percent-in-line-with-existing-tax-policy
Despite all the FUD from Korea lately, it seems like the government is actually taking a fairly positive stance towards crypto now. I think an official tax system for cryptocurrencies legitimizes the industry. Looks like Korea might be going towards what Japan has done in terms of policies regarding crypto, even though in the beginning it looked like they were going in the same direction of China (creating FUD, making things illegal).
Everything is still in the initial stages, so I'm really interested in seeing what happens in the future. What do you guys think?
I must actually commend the south Korea government and there tax agency for being fair in this as I know from beginning that people were just over pump the issues over there in other to create panic selling. I have said this several times that government need to understand crypto currencies aim and objectives in other to take advantage of it as we can see that Japan gdp has rise significantly because of legalizing of bitcoin and others altcoins! Despite all the FUD from Korea lately, it seems like the government is actually taking a fairly positive stance towards crypto now. I think an official tax system for cryptocurrencies legitimizes the industry. Looks like Korea might be going towards what Japan has done in terms of policies regarding crypto, even though in the beginning it looked like they were going in the same direction of China (creating FUD, making things illegal).
Everything is still in the initial stages, so I'm really interested in seeing what happens in the future. What do you guys think?
Imagine that we are paying a 30% tax in France 
. It hurts so much !
. It hurts so much !
24% is a big TAX. crypto is decentralized and no one owns its. The government didn't spend anything for this technology and yet they want a very big part of the income. this is very insane. This is the real government, they're like vampires. bloodsuckers.
https://cointelegraph.com/news/s-korea-to-tax-crypto-exchanges-242-percent-in-line-with-existing-tax-policy
Despite all the FUD from Korea lately, it seems like the government is actually taking a fairly positive stance towards crypto now. I think an official tax system for cryptocurrencies legitimizes the industry. Looks like Korea might be going towards what Japan has done in terms of policies regarding crypto, even though in the beginning it looked like they were going in the same direction of China (creating FUD, making things illegal).
Everything is still in the initial stages, so I'm really interested in seeing what happens in the future. What do you guys think?
And what is there to think about, it's time to forget about anonymity, now we need to think what will be the tax when exchanging for fiat and what it will eventually result in for us. To say, managing our state by our actions will now be easier and they will also have a profit from this. Despite all the FUD from Korea lately, it seems like the government is actually taking a fairly positive stance towards crypto now. I think an official tax system for cryptocurrencies legitimizes the industry. Looks like Korea might be going towards what Japan has done in terms of policies regarding crypto, even though in the beginning it looked like they were going in the same direction of China (creating FUD, making things illegal).
Everything is still in the initial stages, so I'm really interested in seeing what happens in the future. What do you guys think?
The target for all countries is tax. Exchanges need to reduce their profit rates and meet investors with 50%.
When will people learn? Did they realize the "FUD" for the past two months was all complete garbage? Every time the news said something, the Korean government came out and said otherwise, they constantly said for months what they were going to do, so this latest news is not new, it's simply something that again reaffirms what the government anyway had been wanting to do and kept saying.
Now here's the other strange thing: if this is really new news, why hasn't the price rebounded? All was blamed on Korean FUD, wasn't it?
Now here's the other strange thing: if this is really new news, why hasn't the price rebounded? All was blamed on Korean FUD, wasn't it?
Fine if they want to take back some control over cashing to fiat, but 24% is way too much in my opinion.
It's in line with the existing tax policy, so I think it's hard to disagree with. If undertaxed, people will see it as a sign that the government is very lax about it. If overtaxed, people will think the government is too strict, etc.
Crypto is in its literal infant stages in Korea, so I can see why the govt would want to do this in the beginning, and the lower or raise the tax rates according to public response.
it makes btc pump after 30 january. btc can be again 15000 dollars in early february.
Fine if they want to take back some control over cashing to fiat, but 24% is way too much in my opinion.
It's in line with the existing tax policy, so I think it's hard to disagree with. If undertaxed, people will see it as a sign that the government is very lax about it. If overtaxed, people will think the government is too strict, etc.
Crypto is in its literal infant stages in Korea, so I can see why the govt would want to do this in the beginning, and the lower or raise the tax rates according to public response.
Yes, a tax is a better alternative than a ban. In future, when trading from wallets
and atomic swaps are there, controlling cryptos via exchanges will be very hard to do.
and atomic swaps are there, controlling cryptos via exchanges will be very hard to do.
Fine if they want to take back some control over cashing to fiat, but 24% is way too much in my opinion.
https://cointelegraph.com/news/s-korea-to-tax-crypto-exchanges-242-percent-in-line-with-existing-tax-policy
Despite all the FUD from Korea lately, it seems like the government is actually taking a fairly positive stance towards crypto now. I think an official tax system for cryptocurrencies legitimizes the industry. Looks like Korea might be going towards what Japan has done in terms of policies regarding crypto, even though in the beginning it looked like they were going in the same direction of China (creating FUD, making things illegal).
Everything is still in the initial stages, so I'm really interested in seeing what happens in the future. What do you guys think?
Despite all the FUD from Korea lately, it seems like the government is actually taking a fairly positive stance towards crypto now. I think an official tax system for cryptocurrencies legitimizes the industry. Looks like Korea might be going towards what Japan has done in terms of policies regarding crypto, even though in the beginning it looked like they were going in the same direction of China (creating FUD, making things illegal).
Everything is still in the initial stages, so I'm really interested in seeing what happens in the future. What do you guys think?
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