[2018-01-22] S. Korean Crypto Exchange Halts Deposits from Foreigners

[Rick Nolan]

S. Korean Crypto Exchange Halts Deposits from Foreigners

Korbit, South Korean cryptocurrency exchange, announced that its virtual account service will be terminated this month in order to introduce accounts attached to users' identities.

The news comes as the Ministry of Strategy and Finance plans to impose taxes on cryptocurrency operators in Korea this year.

Source: https://hype.codes/s-korean-crypto-exchange-halts-deposits-foreigners

Should cryptocurrency exchanges be taxed, in your opinion?

[Harlot]

The simple answer is yes as they are earning money as well, not imposing a tax burden for them will show inequality of the protection of their rights. If a stock broker is being taxed normally with it's business cryptocurrency exchange operators should be too. The problem here is the Korean Government is not dealing with Korean Won only which means that having an accurate earning report for them would be hard. They should really have a proper control with their own cryptocurrency trading market.