Korea To Tax Bitcoin Use

[mevmike]

we all cant prevent the day to come when all the government in the world will pass laws that will put taxes on all bitcoin related transactions.
huge amount are now being invested in bitcoin and other cryptocurrency.
and the government won't close an eye on this forever.
it is simply inevitable...

[1715262535]

1715262535

[Yaunfitda]

I don't see anything wrong with this moved. South Korean is very friendly to bitcoin at least they just decided to put tax instead of outright ban just like China did. And people are going to bitcoin not to pay tax, they are into bitcoin because they have total control control of their money. Although there are really unscrupulous individual hiding from bitcoin. But I believed most of us don't involved ourselves illegally. I'm fine with the tax on our bitcoins.

[Reatim]

we all cant prevent the day to come when all the government in the world will pass laws that will put taxes on all bitcoin related transactions.
huge amount are now being invested in bitcoin and other cryptocurrency.
and the government won't close an eye on this forever.
it is simply inevitable...

Yes, sooner or later government can't ignore bitcoin anymore and they are going to imposed tax on it. This is the result of bitcoin gaining popularity lately. Its inevitable, a lot of cash in flowing on the ecosystem and the government want's to get a slice of it. And I think that it will bring more good to those people who are into bitcoin and for those who are thinking to join the market later South Korea.

[Blockfolioz]

At some point each and every country who has got large number of bitcoin users will initiate plans to tax based on several factors. Now Korea has come up with plans of regulating the bitcoin related transactions and tax according the value transfer. In reality how this could be functional effectively is yet to be known.

[Erkallys]

I think that at the end it gives legitimity to Bitcoin, it makes it finally an asset like any other from which the criminals from the government will take a tax on. But that is another story. At the end it is good that in such places where I will have very limited interests in the future the reglementation makes it legal to increase the legitimity of Bitcoin so that here without taxes I can still enjoy these effects on the price !

[PORN_coin]

on the other hand, this can be a positive step towards the legalization of bitcoin and the entire crypto community

[2fresh]

we all cant prevent the day to come when all the government in the world will pass laws that will put taxes on all bitcoin related transactions.
huge amount are now being invested in bitcoin and other cryptocurrency.
and the government won't close an eye on this forever.
it is simply inevitable...

Yes, sooner or later government can't ignore bitcoin anymore and they are going to imposed tax on it. This is the result of bitcoin gaining popularity lately. Its inevitable, a lot of cash in flowing on the ecosystem and the government want's to get a slice of it. And I think that it will bring more good to those people who are into bitcoin and for those who are thinking to join the market later South Korea.

Why would paying tax on bitcoin bring "more good" ?
I think we can agree nobody likes or wants to pay tax on their btc.

[SapphireToken]

we all cant prevent the day to come when all the government in the world will pass laws that will put taxes on all bitcoin related transactions.
huge amount are now being invested in bitcoin and other cryptocurrency.
and the government won't close an eye on this forever.
it is simply inevitable...

Yes, sooner or later government can't ignore bitcoin anymore and they are going to imposed tax on it. This is the result of bitcoin gaining popularity lately. Its inevitable, a lot of cash in flowing on the ecosystem and the government want's to get a slice of it. And I think that it will bring more good to those people who are into bitcoin and for those who are thinking to join the market later South Korea.

Why would paying tax on bitcoin bring "more good" ?
I think we can agree nobody likes or wants to pay tax on their btc.

Nobody likes taxes!

[plr]

Government are good at this, taxing whatever people are into, they are not going to do this if bitcoin has not become a popular trading stuff in their market, now that they saw the popularity of bitcoin in their citizen, they are now taxing it, this is the sad reality for bitcoin users.

[xuan87]

There is no doubt every country will follow this rule, when Bitcoin become big and steal the government attention then the consequences is tax, from the beginning I know it is the matter of time before the government interfere with Bitcoin but I think taxing is better than banning

[Transformbitz]

Well government are issuing the same thing, tax is everywhere and they will use that for the economy to sustain needs well. government should study more blockchain so they won't get any taxes from their citizen..

[etsonarrantes]

I think this is the first country to demand tax about BTC. I think this is something good. I hope my country would make the same, i want to feel safer with my bitcoins.

[uslfd]

South Korea is preparing to tax bitcoin use after the cryptocurrency’s trading volume skyrocketed past that of Kosdaq.
Death and taxes ... it seems that even bitcoins can't escape that

Once they start taxing bitcoin, they would unlikely make it illegal - because declaring it illegal later will mean cutting off a good source of financial income!
So actually I think this is good news!

[aysiksyava]

Boscoin's Korean coin has already entered the real world. During the ICO, investors bought the entire coin in 11 hours. In the near future, the coin will be traded on exchanges.

[Atimarieva]

Taxes are levied when converting to fiat funds?

[kueyen]

I'm happy with this. Although we automatically think "tax = evil", it means bitcoin and the money you make off of it is legal. I'd rather give away a small amount of my money and feel safe about it, rather than sitting on a mountain of bitcoin and not knowing what to do with it.

[Fox-111]

Taxes suck, but we all have to pay them. If Korea are looking to implement taxes then they are publicly saying Bitcoin is accepted and that helps mainstream acceptance, not to mention bringing in a bit of regulation.
There is a whole lot more to crypto than avoiding taxes.

[ranman09]

South Korea is preparing to tax bitcoin use after the cryptocurrency’s trading volume skyrocketed past that of Kosdaq.
Death and taxes ... it seems that even bitcoins can't escape that

How are they going to implement this? Via exchanges? Like inclusive taxes?

[Nilda]

Tax means regulation. Lack of government regulation is what keeping most of those in the sidelines from investing in bitcoins.

[Henry27]

I think if this come true, it will be a badly strike to bitcoin in a short term, not only Korea has a huge trading volume but also other countries will follow it, but the good news is that according to the history, it may hardly come true or take a long time to push this regulate.