South Korea Opens Doors for Cryptocurrency

[shaunonsite]

It’s great that they know how to embrace innovation. The rest of the world should be just as open minded, in my opinion.

Heh, they embrace innovation when they see how well it works or how well they can exploit it.

To be fair, it's great that cryptocurrency is being accepted here. There's a blockchain cafe in Gangnam. Ironically, they only accept fiat.

[dunkindonuts]

In order for the Cryptos market to become more stable and manageable in the future, South Korea has decided to set up a special team to research and develop policies for the management of the Cryptocurrency market. Representatives from the Blue House, the official presidential office of the president, have just announced that there will be no more bans in the country about Bitcoin or encrypted transactions.

[OSYA]

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!

This is a big move for the Korean government. Very smart way to give freedom of choice to their citizens and refill their budget with an extra income from taxes on cryptocurrency.

[kokobaba880]

It is a prosper effect of bitcoin and other crypto if a country like South Korea have warm welcome and they allow bitcoin for transactions so the people of south Korea will trust more and if other countries like here in Asia if bitcoin get a legal status it will be a good impact of these country economies as well.

[lyntruongakad09]

A good information to show that bitcoin is growing and gradually recognized by everyone. I think the future of bitcoin will be further developed and investing in it can be a right path.

[Karie_Legend]

It is a prosper effect of bitcoin and other crypto if a country like South Korea have warm welcome and they allow bitcoin for transactions so the people of south Korea will trust more and if other countries like here in Asia if bitcoin get a legal status it will be a good impact of these country economies as well.

If it happened in all countries in the world, it would be easy for Bitcoin to rise up and be used by many people for their daily needs. but that will happen in all countries because Bitcoin is difficult to stop.

[reverseflash]

A good example for governments around the world. A thinking guide always thinks about how to benefit, and does not prohibit everything new and incomprehensible. I am always surprised by countries trying to ban crypto, as if they are not aware of the potential size of income to the country's budget through crypto taxes.

[kenel]

many will be able to safely invest in cryptocurrency, knowing that the income from them was deserved

[CocoaHoto]

So far, the Ministry of Justice's bans on Bitcoin has caused the opposite opinion makes the market cryptocurrency wobble because Korea is one of the "big guys" in e-money investing. Korea has decided to set up a special team dedicated to researching and developing policies for the management of the electronic money market. Investors can breathe a sigh of relief and continue to invest in this potential market, but from the actions of the Korean government, it is difficult to have a long-term ban.

[Rooster101]

The adoption of bitcoin will be accelerated if countries around the world follow the example of Japan and in legalizing Bitcoin. South Korea will be the second country in the whole of Asia to legalize bitcoin if the researching and developing for future policies for the cryptocurrencies will end up positively. Country like Singapore and Philippines are making also making their moves to become a crypto-friendly nation in southeast asia.

[Eraldo Coil]

South korea  is always open to any opportunity that can help their citizens. But also south korea making it sure that that crypto is safe to us and can be benifitable to the people. so for me south korea is the best place to live if you are into investing bitcoin and also it a great country.

[saumang2m]

If South Korea has adopted Bitcoin. So it's good news for both people who use Bitcoin and Bitcoin. Because of this, bitcoin prices may increase. By which people who use Bitcoin will be profit. And more people can connect with Bitcoin.

[Gabteb]

Countries which would go with this way will be winers others like China losers its intersting Countries like Japan,South Koreia and etc. could make profit from internet things and electrocis and now they move to right direction again and others lose again.

[jtrapirap]

It’s a good news indeed to the whole crypto community, one step milestone to worldwide adoption/acceptance to this mainstream technology. I hope this may bring positive impact and may uplift again the crypto market. Korea is one of the progressive Asian country and I hope other country will follow also.

[sinkfish]

It’s a good news indeed to the whole crypto community, one step milestone to worldwide adoption/acceptance to this mainstream technology. I hope this may bring positive impact and may uplift again the crypto market. Korea is one of the progressive Asian country and I hope other country will follow also.

with the power of Kpop, the rest will follow.

[jaaeeeyyyy]

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!

This should be the mindset of all government we have in the world even though we do have differences but in terms of financing we should have cryptocurrency or digital currency at the very least. We should innovate everything even we're going to face big changes in order to have a better life. Adoption for bitcoin and alternative coins would give great experience of living.

[evichi]

This is good news for the world of cryptocurrency. This implies that South Korea government have carefully reviewed the crypto industry and found it worthy to continue- not outright ban. That is, they have positive disposition towards cryptocurrency. That means South Koreans can now go ahead with crypto activities . The news implies that the future of cryptocurrency is indeed bright.

[Minhxx]

I have heard that Korea has accepted electronic payments in some places and the government also accepts the electronic currency and applies the tax. As you lower the tax will be reduced, this is a good news for the market in Korea

[budi691]

it's a good step for South Korea, it can open the door for cryptocurrency to enter. but the big question is how society can fully enjoy and run the crypto there.

[denbagoes]

Korea has opened opportunities for investors to invest in Cryptocurrency.
This is a good thing because, with this, investors can be legal in running their businesses that are supported by the government.
I feel if the Korean government applies taxes then this is also a beneficial side for the Korean government, the government can get additional money from Cryptocurrency.
Hopefully, this will be a real example to be followed by other countries.
I hope Cryptocurrency will be used by many people in this world.