South Korea Opens Doors for Cryptocurrency

[ramores8]

South Korea being one of the biggest economics in the world will hopefuly make other countries follow this trend of cryptocurrencies adoption. Bitcoin should be legal and available for everyone.

I appreciate that they are open about not banning cryptocurrency, the petition they get is the start of trust in increasing the volume of the largest exchange market in their country. Even what the previous Chinese government did with crypto exchange did not make them change their minds.

[perova93]

South Korea is the country that has long opened its doors to the crypto market! I think that South Korea is the very first country to control and regulate the crypto world! a lot of countries look at it and also make decisions after it!

[isllander]

I will agree. It's not clear how conversations about the entry of crypto-currency into real life went to business daily. Tomorrow it will be light.

[Malintha1996]

The obvious fact that is revealed by such news is that world is coming around to accept a virtual digital currency globally.i.e.The fiat currency will evolve into digital soon. I have no opinion about  imposing of taxes however crypto currencies being legal officially in a well known country have definitely increased the awareness of crypto currencies around the globe.
 

[dupee419]

Very much acceptable indeed, 10-15% is an OK for me, I'd take that as a fair play for the government and to the investors who will partake and negotiate, I can see that South Korea's government have recognized that they can actually benefit within cryptocurrency, and thus opening the door for cryptos.

[cryptocurrencyguru]

south Korea is very bullish on cryptocurrency and most of the blockchain projects are coming from south Korea and govt is supporting bitcoin mass adoption

[giantrobot]

This is great. In the past, I heard from Samsung in Korea accept Bitcoin as a trading method. And today, that is the Korean government. This is great. Korea is a modern country, its acceptance of Bitcoin will have a positive impact on other countries.

[kevinzxz]

That is very good news for the future of Crypto, because if South Korea opens the door to accept Crypto, then I'm sure crypto prices will increase and market volume will also increase.

[CoinsGazer]

South Korea is now looking for opportunities to lead the fourth industrial revolution. The South Korean government seems to be aware of the huge potential of blockchain and cryptocurrency – especially Korean citizens, who contribute a large portion of the global cryptocurrency market; According to reports, South Korea handled more than 14% of global bitcoin transactions in July last year.

[SilverCup08]

That's good news then! I can see cryptocurrency industry will flourish in no time. I'd say between 3 to 5 years. Once all other countries accept cryptos, then it will be a blast. I think they are now slowly seeing the benefits of it over cash. Let's keep our eyes and ears open.

[WUUEX79]

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!

Right, but what you expect it seems doesn't give a significant impact. Because the policy released by the South Korean government has made most investors prefer to invest in other commodities such as stocks etc. Perhaps, the tax imposed's still considered too high.

[greg0rioo]

I like to hear news like this and Korean investors have also started investing in bitcoin. This will affect the price level of the bitcoin that will be increased. I want this to continue.

[erifubirugen]

If they play in the rules i believe it would be very good for all cryptocurrency markets. There are lots of funds in South Korea market and they want to use it. If the goverment(!) act normal it would be very good for all of us. When the South Korean people invest in crypto the market will go high and all of us will winn..

[virarara]

I am very happy with this news. This is good news for us as bitcoin users. I think this news will help bitcoin develop and the price of bitcoin will rise in some time.

[rudox]

The country has been crypto friendly and this piece of news will go a long way to help boost the image of the crypto and drive the price higher. The problem with bitcoin since the beginning of the year 2018 has been the attack from countries like China , USA, India  and some agencies like the G20. Their pronouncement and actions has been so tough on the cryptocurrency which has been also affecting the market value.

[AzrailBogov]

They are actually very loyal. 10-15% is not a big percentage, I do not think that someone will start to resent this

[stownbridge]

Such news is pleasant and joyful to comment. For more such decisions from other states, a new century will come. The century of technology and progress.

[richman3451]

I want to believe that other countries will follow the same example and much will change for the better in the world of the economy I dream of a world without borders

[beyasuli]

South Korea is the country that has long opened its doors to the crypto market! I think that South Korea is the very first country to control and regulate the crypto world! a lot of countries look at it and also make decisions after it!

South Korea is a developed country. One characteristic of developed countries is the application of future technologies that can change the world in a better direction. Cryptocurrency is an internet-based digital currency system. Without that, it won't work. Therefore digital telecommunications is advancing very rapidly. The South Korean government sees from the positive side of cryptocurrency, because technology cannot be avoided.

[amphibian]

This is really a good news to hear. We know in this world, Asian countries mostly have highest population and legalizing crypto in these countries will have a significant impact on the crypto market. This is so because, we are going to have a lot of people investing in crypto which will go a long way to raise the value of bitcoin and other altcoins. In fact, this will revive the crypto market at the long run.