South Korea Opens Doors for Cryptocurrency

[GabrielPontello]

Actually more and more nations are staring to recognize cryptocurrencies, even the European Union is probably going to do the same.

[zxl912157]

That's for sure because South Korea trades big Exchange like Bithumb and Upbit.
Inevitably South Korea must also recognize there will be Bitcoin on the Exchange.

With there news like this hopefully can make Bitcoin prices rise again and the market turns Green.

[Vishnu.Reang]

The South Korean government's policy on crypto-currencies change every two hours. First they were quite supportive of the cryptos. Then they reversed their policy and raided the exchanges and started harassing the users. And now once again they are saying that they will support the users.

[heavenknows]

Thats the reason why the market is currently moving - The bitcoin market had its highest trading volume of the past 3 months and Im thinking that this will continue to grow when September ends

[mrbomnguyen]

That's a great news for Korean investors and global invetors too. Korean Government has wise vision and open a door of infinitive world of future

[Kelvinikke]

South Korea is indeed a home of cryptocurrencies because it was not long ago that the Amble Blockchain meet up was organized in Seoul and with so many projects are springing form the Eastern side such as CryptoSouk and Cryptassist.

[IMAR]

I also believe that cryptocurrency in general will have a valuable impact in the economy in many years to come. Bitcoin especially will create a big change to our current financial system. With South Korea paving the way for legalization and I think there are some few other country's who did the same, then later on it will be accepted by the majority of nations. Good luck bitcoin.

[Kusnechik]

South Korea intercepted the leadership of China on the introduction of crypto currency, after the Chinese authorities imposed fencing.

[maskeffec]

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!

As good citizens it is obligatory for us to pay income taxes to assist the government in terms of infrastructure development, applying 10 ~ 15% taxes for crypts such as interest income taxes, making investors calm in running the crypto business in the country. I think this is a positive thing for cryptocurancy in building a business network, so that many Korean investors will enliven the cryptocurancy market again.
Hopefully other countries soon follow South Korea step!

[perova93]

South Korea has taken a lot of restrictions with respect to the crypto market! now very strongly forced on Korea, so that she loosened their prohibitions! I think that Korea will show everyone an example of how to develop in the crypt world and open the doors to a new digital economy!

[anushkasachith888]

This news sounds good. looks like everything getting better and Crypto market is about to wake up again. Now all need is institutional investors to come in. They are knocking on the door. Crypto is unstoppable.

[lobster88]

This is an another good news to read here in the forum. Well, I was hoping that more countries will open there eyes to see that good in the crypto currencies and give it a chance to enter their country. I know for sure that the crypto world will grow even more.

[bitcoinVPSD]

This is good news. I think South Korea's tax policy for electronic money can bring difficulties to investors, but it is necessary to protect their economic interests. If it grows stronger from Korean investors, I hope to see a reduction in taxes

[Stragomagus]

great news, not in just South Korea , so many countries now are open doors for cryptocurrency.

[angelakrasnova]

This is very good news! South Korea I really like, it is not going to lose its position in the development of the entire crypto industry! Segodians there are a lot of projects and programmers from Korea, which bring a huge global economic development! South Korea is on the right track, many will follow suit!

[Kotone]

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!

We considered the government when we talk about the acceptance of one country to bitcoin, but as we all know bitcoin is a thing that people loves to use. The government really wanted to take charge in everything that is going on, because they wanted to control and have power to it. But it will be a very good thing for bitcoin if the government accepted it, because more people wanted to do legal ways so this will probably boost the users of bitcoin.

it will be a great news because one of the countries in the world are accepting the bitcoin now. so, many people and user will be enter in this industry.but I am sire that there are some rules and regulations about the bitcoin created by the government in their country. maybe they put tax in the bitcoin. I hope mpre countries accept it

[Cidolfusorlandeau]

i was heard that a Professor of Finance at the University of California Los Angeles (UCLA) has nominated Satoshi Nakamoto for the 2016 Nobel Prize in Economics.

[si2000]

soon there will be no countries where they will not recognize crypto, more and more countries are accepting and starting to help the development of crypto currency!

[Cecekcitata]

we can see that South Korea is leading the technology industry, maybe South Korea has a bitcoin project in their country maybe that is the reason why they want to accept bitcoin not against it and South Korea is one of many big countries who want to receive bitcoin

[Abrefatotherescue]

Bitcoin is gradually getting there. With time, it will have a world wide acceptance. I'm sure there will be a general equity conformation to the cryptocurrency but it's still on the right path