South Korea Opens Doors for Cryptocurrency

[Jonathan Greenn]

Approximately eight months after the first ICO ban, the Korean National Assembly issued a formal proposal allowing ICO in the country.

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[Shiversnow]

I believe in a year or two we will see the whole world moving in the same direction regarding bitcoin. most of the countries will start off by calling bitcoin things like "commodity" and then setting taxes like this, sometimes higher than it should be and some other countries will see its true nature and see it as a "currency".
in the end the best way is to take taxes from the investors on exchanges and remove taxes from it for those who use it as a currency. basically something like Japan with a lower tax.

I agree with you that, in the next many years all countries in the whole world will open the door for cryptocurrency especially bitcoin and etheruem because this two are the solid coins. Actually, South Korea people already adopt the using of cryptocurrency and I hope their government will not against it so that they could use cryptocurrency freely.

[freaker]

Approximately eight months after the first ICO ban, the Korean National Assembly issued a formal proposal allowing ICO in the country.

If you are right then it indicates that South Korean government has realized that they cannot stop people from using crypto currency and people will always find a way of using crypto currency. I don't have any issue for the laws that are placed by the government as it will allow its citizens to freely hold and use crypto currency. Introduction of regulations is best solution for everyone then imposing a ban on that service.   

[Veterock]

South Korea is one of the largest countries in the capitalization of crypto-currencies. I'm glad that they made a decision that will suit everyone!

[DoublerHunter]

South Korea is one of the largest countries in the capitalization of crypto-currencies. I'm glad that they made a decision that will suit everyone!

It is because cryptocurrencies are now unstoppable and one of the reason why other Asian countries are doing the same. If they will not open their doors for cryptocurrency or if they will not adopt it as soon as possible then they will get left behind of this growing industry of cryptocurrency and that is the reason of south korea for adopting it.

[MTNAX]

good news for world market considering south korea one of the biggest country best crypto money. This will probably be a recovery in the market today. Hopefully the future of the crypto world will be even better.

[equal2detask123]

This is great news to but i wish all other counties could do same and legalize the use of cryptocurrencies within their system.

[bangkecol]

korea has started can legalize crypto and i found that thailand also have started to legalize crypto, Asian countries have started to move forward degan try new thing in this crypto technology. in my opinion in the near future countries in other Asia will also follow in the footsteps of korea and thailand, also singapore.

[jess04]

This is another good news about crypto currencies as well as investors particularly in South Korea. I hope that Crypto will be legal in that country which is one of the aspect to easily persuade and believed in crypto. Aside from that, there will be more investors who wants to invest in crypto. I know that, time will come they will be more knowledgeable and interested with crypto currencies when they totally understand the advantages that crypto currencies may brings for their lives.            

[Shreek]

actually good news very much, and should be BTC price is above 10k USD
but the whales put up a very large wall at the price of 6k to 7k, which causes BTC prices can not rise
stay patient and wait for the right moment,
thanks korea

[paul00]

korea has started can legalize crypto and i found that thailand also have started to legalize crypto, Asian countries have started to move forward degan try new thing in this crypto technology. in my opinion in the near future countries in other Asia will also follow in the footsteps of korea and thailand, also singapore.

If they started getting tax from it I think it is already legal. If most of asian country would legalize crypto I think bitcoin price would got alot value than today. As I see in my country it not that illegal but our government our watching for it because there are alot of investors who complain to be scammed by someone.

[135cc]

Before this time, almost Korean investors really worried about new tax policy for cryptocurrency.
That's why all news said the government will apply 3~40%taxes for crypto at Jul~Aug.
But today, the government said we will apply 10~15%taxes for crypto like interest income tax, and it is very acceptable to all Korean investors.
Also they said we feel hard to say it will happen within this year and although will happen this year, there will be 1~2years stay period.

http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&oid=023&aid=0003382087&sid1=001&lfrom=kakao

In conclusion, Crypto is accepted by government's legal property, SO MANY KOREAN INVESTORS WILL GET INTO MARKET AGAIN!

I think its a good decision by the goverments of South Korea and also can be a great news for us. The number of country that legalize and accept crypto is increasing slowly and im so happy to hear that, after this we can hope that it will keep increasing day by day.

[lumedeee02]

This is good news at the side of south Korea and I think if every other country can also do this this will really help the rising in price of the bitcoin

[Minerall]

South Korea and North korea have not good relations every time. So incase of war you have your wealth in cryptocuurrency that will not be affected. Cryptocurrency is free of any link with stability of any country. So, country like this situation must take advantage from this currency.

[satana_igor666]

Now many countries will take bitcoins and this is a natural fact.  In a couple of years we will be able to use bitcoin in everyday expenses.

[GeorgiyBilyk]

Now every country should understand the seriousness of the development of the crypto market and the entire industry! Now a lot of countries have realized that this is the future of information technology! crypto system gave a new rhythm to the global economy! now all major companies and corporations have focused their eyes on development in this area. they understand that if now they do not take steps in development, then they will have to catch up with the whole world and other companies for a very long time!

[frankiemalton]

Since the legalization went through last Spring, Japan has enjoyed a cryptocurrency boom, with huge growth in retail investor interest and over-the-counter (OTC) services.

[Anyobsss]

korea has started can legalize crypto and i found that thailand also have started to legalize crypto, Asian countries have started to move forward degan try new thing in this crypto technology. in my opinion in the near future countries in other Asia will also follow in the footsteps of korea and thailand, also singapore.

The reason could be that they have started to see what cryptocurrency can do and how can this revolutionary technology affect the world as it is now. The use of crypto had helped us conveniently by sending money anywhere and anytime in the world. Other Country has also started accepting crypto especially in the part of asia, Korea might be just going with the flow by opening its doors for crypto.

[dangkhoasn]

A good decision of Korea. Korea has always been in the forefront of economic and technological development in Asia and is now Crypto. A good way for the future ...

[reality18]

This is a great news for the cryto industry in totality as several investors from South Korea will now invest in cryptocurrency without having to live with any FUD. Other Asian countries are likely to follow the same trend after witnessing the success stories of South Korea about cryptocurrency.