South Korea Opens Doors for Cryptocurrency

[bitfocus]

a great relief for South Korean Bitcoiners, miners and Ceypro investors, no doubt!

[1714121739]

1714121739

[1714121739]

1714121739

[1714121739]

1714121739

[1714121739]

1714121739

[Reid]

That is still a large sum of money if you are investing a lot.
It should have been free. But for the sake of their own greedy needs it will be given.

So what is the deal? They will take taxes from crypto investors in what exchange? Will they work harder if an exchange suddenly get hacked again?

Looks like they made some move after helping to solve coinrail problem.

[markiplier.jack]

Well, this is a great news for the community of investors not only in S Korea but around the world. And also it's a beginning of opening doors for accepting cryptos than resisting it.

[AliMan]

a great relief for South Korean Bitcoiners, miners and Ceypro investors, no doubt!

Wow it's a great news and that must be celebrated. Another milestone has set by bitcoin and for sure a lot of opportunities will come. It always nice to get news like this because it motivates us to strive for more. Just imagine the good effect of this to the bitcoin community. It will surely pave the way for more upcoming blessings.

[vinbitpon]

This is really a great news, and another step for crypto. More countries should be aware of the benefits of using crypto. It's more convenient and faster.

S. Korea will definitely benefit from this innovation, especially that they are selling goods all over the world.

[jrrsparkles]

a great relief for South Korean Bitcoiners, miners and Ceypro investors, no doubt!

Wow it's a great news and that must be celebrated. Another milestone has set by bitcoin and for sure a lot of opportunities will come. It always nice to get news like this because it motivates us to strive for more. Just imagine the good effect of this to the bitcoin community. It will surely pave the way for more upcoming blessings.

Maybe good news for the bitcoin community,but many people don't think so because I can't see any growth in the bitcoin prices even now.But hope to see that more coutries will take action like this and help the crypto community to grow more in the upcoming days.

[Tylev]

Very good news from South Korea. Two recent news that from their exchanges and exchangers were abducted about 40 and 30 million dollars in the crypto currency were extremely bad. The introduction of a 10-15 percent profit tax on crypto currency is one of the lowest in the world. Apparently, the government of this country is betting on mass character and this is very correct. A high tax would drive the crypto currency into the shadow, because it is very poorly tracked. I hope that bitcoin will go up after this.

[Andrew S]

Very good news from South Korea. Two recent news that from their exchanges and exchangers were abducted about 40 and 30 million dollars in the crypto currency were extremely bad. The introduction of a 10-15 percent profit tax on crypto currency is one of the lowest in the world. Apparently, the government of this country is betting on mass character and this is very correct. A high tax would drive the crypto currency into the shadow, because it is very poorly tracked. I hope that bitcoin will go up after this.

Yes, I agree.  This is the beginning for the development of the crypto currency not only for them.  All countries should establish such low taxes, until the crypto currency is a national currency.

[grabpopcorn536]

As far as I know, Korea is the country with the largest number of people investing and participating in cryptocurrency. Korean policy has opened the door to Bitcoin, which means that more countries will accept it. The Bitcoin market will return. Hope so.

[DenCho?]

Great news. Hope it is begining of world mass adoption that Will cause linear (not parabolic) growth in nearest future)

Unfortunately i can not find a Link, but i've read that some kind of EU soviet (smth like that ) wanted all its countries to have a crypto regulating laws not later than in 18 month. So looks like we have not much time before enormous money Flow going into crypto market. It's awesome

One more question mantioned above is how they Will take taxes from crypto? I understand how to do it on centralized exchanges, and what about dex and others p2p options? The only way i see is enforsed kyc procedure, when registering a wallet, but it surely Will be services to do it incognito)
Or may be they Will Just watch for All crypto and Fiat transactions in the country... I hope for now it is quiet impossible, but i'm not sure..

And the other side of taxing is volatility.. And here i see two ways again: tax withdrowals from exchanges and take No taxes from users as currency. Or they can take their fees in btc and start making government btc reserve like gold reserve)

[MrAntonius]

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 partially agree with you, Profits and taxes should be taken from investors trading on the exchange of currencies. Conventional holders for purses should not be touched. Naturally, the exchanges will be registered in countries where there will be zero taxes on their activities. For example, as it did exchange Binance. She moved from Japan to Malta.

[Coinsher]

If this is true, then it will make the price of bitcoins and all other altcoins to go higher because I'm pretty sure more people there will buy or invest in crypto coins. And it can help for the betterment of crypto market because surely the demand will be high amd more opportunities will be coming here in crypto world.

[pawanjain]

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.

Yes , I think the same. Most of the countires will start accepting Bitcoin and other cryptocurrency as good,assets or commodities etc.. and tax it accordingly. I have already heard that India is planning on to treat cryptocurrencies as good and tax it accordingly for buy and sell.
If all countries start doing the same then cryptocurrencies will be accepted as payments in many countries and may be then the market will be going green.

[Abete]

Hopefully positive, Hopefully the prospect of cryptocurrency there also works well. South Korea is one of the Asian countries that has very good economic development. Hopefully the potential of south korea will affect other Asian countries.

[jagdeepjd]

It is a good thing that Korean governments are charging tax and that too of fair amount. at least they are not giving statements of banning crypto and all like the government in my country. This move will definitely give confidence to the investors and I wish to see such regulations in my country too.

[allen67]

A very good news undoutedly and this will help in development of both South Korea and crypto world. Soon other countries will come forward and use crypto for their own development.

[Dswaggers]

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.

It is a good thing that Korean governments are charging tax and that too of fair amount. at least they are not giving statements of banning crypto and all like the government in my country. This move will definitely give confidence to the investors and I wish to see such regulations in my country too.

Yes you're right..And it's good news to hear about South Korea open door for cryptocurrency,through this it gives influenced for some other country to follow the step of south korea to open doors for crypto currency in thier respective country.

[alihassan99]

it will be a good news if south korea opens the door for the crypto currencies.. it will rise the value of crypto currencies...

[Nurul_]

this is news as well as a fresh agent for cryiptocurrency for the better. hopefully this becomes the beginning of the year 2018 cryiptocurrency becomes worth and the price is improving. as happened at the end of 2017 repeats itself

[princesspoppy]

It's nice to hear that there are countries who are now accepting cryptocurrencies and putting taxes on them rather than banning it. If South Korea is now accepting cryptos, many countries will soon to follow and our market will be filled with new investors again. Soon our market will flood green again that will sure attract more investors even in different countries.