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1  Economy / Economics / Re: Korea proposes 20% tax on crypto trading starting 2021 on: July 22, 2020, 02:33:39 AM
I don't live in Korea, but I find this interesting nonetheless.

The disgruntled citizens have a good point with this:

Not sure what the rationale is behind hitting crypto owners harder than people investing in the stock market, but then again a lot of decisions made by government committees don't make a hell of a lot of sense anyway.

What I understand is that the government determined that the minimum threshold is proportionally the same. If they matched the thresholds, then they wouldn't get anything from crypto traders. If they made the crypto threshold 16k, then the stocks threshold would have to be around $128k. Bear in mind the gov have raided exchanges in korea so many times I'm sure they scooped up second and third cooked books to determine real transaction values.
2  Economy / Economics / Korea proposes 20% tax on crypto trading starting 2021 on: July 22, 2020, 01:36:09 AM
It's been a long time coming but it looks like they're finally here. Crypto taxes in South Korea.
Took them long enough. Honestly they don't look that bad. it's better than the capital gains threat that was being thrown around for a while.
20% on gains, minimum threshold is $2k/year, filed under income tax, starting October 2021.

https://thenews.asia/korean-crypto-tax-amendment-sent-for-review/
3  Bitcoin / Bitcoin Discussion / Re: building a crypto criminal database on: July 20, 2020, 02:40:37 PM
Yeah I feel you on being uneasy about tracking and flagging wallets. Seems like something a centralized system would have levied on it. That said, countries have their best interests in mind. The crimes being committed with cryptos in SK seem pretty bad so they probably want to mitigate that any way they can.
4  Bitcoin / Bitcoin Discussion / building a crypto criminal database on: July 20, 2020, 02:07:24 PM
This company in South Korea is figuring out that once a cyber criminal, always a cyber criminal. They found that two separate big crypto crimes shared the same exchange account for onramping or offramping. Of course most of it was done with Bitcoin. Don't know how it will get better before getting worse.

https://thenews.asia/hyungoo-kim-tracking-cryptocurrency-cyber-crimes/
5  Other / Politics & Society / Blockchain-based wind power operation solution for Korean power grid on: July 16, 2020, 11:35:16 AM
Korean Southern Power Co. is now the first in the field of wind power generation to build and implement a blockchain-based operation and security system. Experts expect the system to be a key piece of convergence technology to be highlight by Korea’s Green New Deal.
Things are getting pretty nutty with all the blockchain implementations these days. Probably a lot of time on their hands planning and planning while in quarantine n such.

https://thenews.asia/blockchain-based-wind-power-operation-solution-for-korean-power-grid/
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