South Korea Opens Doors for Cryptocurrency

[Phlaser]

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!

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[Pursuer]

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.

[yusupjatigumilar]

I hope this will make bitcoin prices skyrocket again if more countries allow bitcoin, eat more investors to invest in it, automatically if the number of investors increases then the price will immediately move up, and this will provide benefits for investors because the price difference buying and selling price

[danbitcoin1]

Good news, seems to be a lot of good news lately but still the price keeps going down. Expecting it to start going back up again soon.

[altcoinanalyst1]

Glad to hear that. South Korea's economy is currently 11th largest in the world. So i think many top investors will be interested in Bitcoin and it will eventually helps the price to increase.

[Tahir460pk]

Well it's really a great news that south Korea open doors for Cryptocurrency my opninon its the first drop of rain hopefully few more steps of this kind we shall see soon these steps make the market more stable and strong, its a great step from both of authorities.

[fiulpro]

The fact that government is applying taxes on cryptocurrencies means that they will realize it will be like gold and other investment property so this is a good thing and 10-15% is something that's acceptable because there are countries where the government is thinking of applying even more tax. It's anyways better than banning them.
Also South Korea is already a large hub for Bitcoins and government will gain profit through this " lots of profit " this way it will be a win win situation for both of them.

[Antonina]

I do not agree with this statement and I believe that a person who is interested in this is entitled to take part in trade. and sex has nothing to do

[supermine]

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!

Fair amount of taxes will attract more investors towards it and many other governments also need to follow the fair taxation system for the crypto earnings then only more people will get interested to do this and the governments can make more revenue.

And I hope this kind of news will bring some upward movements in the bitcoin prices in the coming weeks.

[jefrystar]

That's good to know. South Korea is playing great role to Cryptocurrency market. I think this may increase the price of cryptos again.

[VitKoyn]

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!

Then this is good cutting the percentage of tax that cryptocurrency traders/investors will pay instead of paying 40% which is ridiculous. But I don't see that any moment right now that korean investors will enter the market because of the recent problem that their local exchange had been hacked and losing millions of dollars and chances that many people may lose their trust on that exchange but not a serious problem since there are lots of exchange to use. But I can see in long term, if koreans will trade or invest again in cryptocurrency market then we can expect a new bull run because we all know that large volume of trades came from korea last year.

[warrior333]

I wonder how you can calculate the amount of tax on cryptocurrencies? They have constant volatility. This is possible for legal entities that maintain accounting records. But for individuals it will be a problem. But I am wary of such news in any case. Regulation of cryptocurrencies can scare off large investors and bitcoin will lose most of its capitalization. Maybe it's happening now.

[THATBTC]

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!

WOOWW :O this is really good news!

https://btcmanager.com/south-korean-banks-to-utilize-blockchain-for-digital-i-d/

[boblets243]

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!

It is good news for bitcoin community.  The percent tax impose is indeed acceptable. Let us all look forward that because the acceptance of bitcoin,  will likewise draw investors. Let us hope for the best in crypto.

[gesdan]

i know it all people that open with technology like South Korea, Japanese will accept bitcoin because they know that bitcoin is the future of currencies and blockchain is the future of the system, so they accept it. Right now we will wait that other country will accept bitcoin in the future

[KesoNie]

I hope this will make bitcoin prices skyrocket again if more countries allow bitcoin, eat more investors to invest in it, automatically if the number of investors increases then the price will immediately move up, and this will provide benefits for investors because the price difference buying and selling price

And after a long run finally I can see a good sign for a good future of bitcoin in the market. This maybe could the reason that bitcoin will soar high again and could be the reason too for the changes of the market status. We'll I'll only hope for the best for bitcoin and so to any altcoins too that this happenings could brought a good sign to crypto world.

[damort]

That's a real deal. Korean government is really serious about this crypto business. They know how to make this market be their strength.
https://btcmanager.com/south-korea-may-launch-dedicated-cryptocurrency-zone-for-companies/

[ejswift]

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!

thats a great news for them because then can easily now access bitcoin and ita match for their technology that is very high tech so that would ve cool if you live there

[nguyenhoven]

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!

it's good that crypto will get regulated, but the problem is that there is a tax on it. For trading that might work just fine, but shold it be used as a currency, that will be a problem.

[Jimrch]

That was a great move of South Korean government to allow cryptocurrencies enter their community. This means that they trusted the butcoin technology and believe that the system has a big future in the world. Maybe one day, other countires will also decide on allowing bitcoin to enter their government.