[2018-04-01]South Korean Regulators To Release Crypto Tax Framework By June

[Hannahanto]

South Korea’s Ministry of Strategy and Finance will reportedly release a taxation framework for cryptocurrencies by the end of June, local news outlet Fuji News Network (FNN) reported March 25.

A spokesperson for the Ministry of Strategy and Finance said that although they “do not have a specific time frame,” they are “thinking about announcing a virtual money tax in the first half of the year,” and FNN adds that any taxation would only start next year.

The announcement of the future tax plan came after the Finance Ministers' meeting of the G20 that took place earlier this month from March 19-20.

https://cointelegraph.com/news/south-korean-regulators-to-release-crypto-tax-framework-by-june

South Korea is going to allow traders and others to use bitcoin and tax on them? Really a positive move? Your thoughts?

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[thefaucetrunner]

We'll see how it compares with Thailand's just-released tax framework. I suspect South Korea's will be higher because they seem more hostile to cryptocurrency.

[danielschwerzer]

Lots of great news connected to crypto form South Korea. This country is one of the most progressive and interested in innovations country  from the whole globe. Hope their tax framework will be successful

[Alex077]

We'll see how it compares with Thailand's just-released tax framework. I suspect South Korea's will be higher because they seem more hostile to cryptocurrency.

I don't think that new rules they want to adopt gonna be stringent for the cryptocurrencies. South Korea is a democratic country, prohibition system doesn't work there!